You have adressed a very relevant issue faced by most of us; In my opinion one should start thinking about buying a house when the person is in early 30s when they are likely to have accumulated sufficient margin; One should never buy a house in small towns if they do not have plans to settle their and it is just for investment purpose. Some time we tend to buy a house at a location we can afford at that moment without thinking about future salability of the property; this should be avoided; It is better to buy a small house in a metro rather than a bungalow in a moffusil place; Alway try to buy two small places which are adjacent to each other rather than buy a single big place; through this you will rental income to pay the EMIs; If you have a transferable job then it is better to rent during initial years;
RE:when to rent, when to buy
by SRG on Aug 09, 2006 12:29 PM Permalink
MS. ANAMIKA, I think you should take a re-look at your expenses. Though you are not paying much towards rent in my opinion your other expenses are way too high for your level of income. Is there really a need to incur phone bill of Rs 3000. You can go pre-paid, Do you really need a car as well as a bike? These kind of introspection would pay off in the long run. I disconnected my mobile after I started incurring montly bill of Rs 600/- and this is just for indulging in chatting. By waking up half an hour earlier than my regular time I am saving Rs 500/- each month which other wise would be spent on rickshaw. In the long run it is better to save than be sorry
