One more vital point is missed out in the calculations, i.e. the differential amount between EMI and Rent can be invested in either equity / Fixed Deposits, which will definitely give Capital appreciation. With this savings you can buy the house in the decent locality of tier-2 cities and more over who will stay in these unplanned cities after 20 years which will be horrible for any kind of living.
Hence, I recommend in investing rather than running into debts for one particular asset.
One more suggestion is but 2 plots in any tier-2 cities for very leeser amount now. After your retirement, sell one plot and with that money bulid your dream house in the second plot and lead a comfortable life.
RE:Differential Amount | Rent | EMI
by ARIF AHMED FAROOQUI on Apr 30, 2007 10:12 PM Permalink
I endorse this opinion,It is how a middle class person can think of building ahouse/buying house of his choice-arif ahmed
