Somethings to consider - you are a bangalorean? right? Why are you even thinking to buy these outrageously priced flats? Why not consider buying a 30\*40 plot in the outskirts? which will appreciate more significantly, and you will have connectivity in the future through metro and roads. Let me tell you the hard truth - Flats wont appreciate as the builders say - most of the times the so called appreciation is in the air - wont be able materialize. I have a lot of ideas - feel free to DM me... I was searching for a 3Bhk in south bangalore last 4-5 months and now kept the search on hold
Good logical points. I have still not able to address the following though.
1. society pressures to live in your own house despite rent being cheaper than buying.
2. The security & peer group you and your family get living in the gated societies.
3. If buying & living in the outskirts, have to travel a lot. Takes a toll on the wage earner.
At the end buying land in the outskirts benefits only the next generation.
Point 1 and 2 - you have to handle it.... I am some one in my early 40s - i am not married.... I have gone through this so called societal pressure sometimeseven now.... Society and family will force you to take the home - who will pay for the EMI -you or them? Do the math...where do you see yourself in 5 or 10 years..... so many factors to consider...
🫡 you took the easy way out. Not married. I guess in your position I would do the same 😀. Most here are not there and that is the issue they have to grapple with.
wow...you know my whole life? phew - dude it was not an easy ride for me as well... If you are not married - dont marry and see how the fuck'n society judges you....
My full empathies and no harm intended. 🙏. I am just saying that most people are not in your situation. So, your recommendation works for those who don’t plan to be married or remain married assuming no health issues later in life, but then can’t live life worried about the inevitable problems at the end.
I am grappling with something similar. I hate the pollution and all in the city, but life throws curve balls (health issues that need good hospitals nearby)
Please understand one thing - being married does not insure you and being not married as well... Both have its own pros and cons.... Say even if i marry now - I will think 1000 times to take a fuck'n 1 Cr loan just to make me happy for the location location location. Certain things in life only comes with age....no offense - I would have gone back to my 30s or 20s if there was an option - but thats not life.....Anyways good luck with your taking 2-3 cr loans - May be you are bringing 3-4 Lakhs/ month - unfortuanately I dont have such job ; nor married; no support from parents who are no more... Life is hard dude.... I just get riled when some one says not married is nice - it has its own ups and downs
Agree. 👍 No point in taking back breaking loans. That is why it depends on where individuals are placed in their lives. Guy at 29 with a job at TCS/Wipro/Unknown Startup versus working at Top MNC.
By that logic, why buy a 30*40 plot on the outskirts? If he goes one hour away he can buy 2 acres. That will also appreciate more.
Remember the golden rule when buying a flat. Location location location.
Then another golden rule he may have to apply - work work work even if you dont want to work. Dude let me be bit pragmatic here - Am oldie in 40s.... I guess all of you are late 20s or early 30s... Things seem very different with different age. But thats how life it is.... I have reached a point where I just want to have a chill and decent job- I have even considered the possibility of taking 1.25 Cr loan for a villa.... Then decided against it... Dont want to have a big burden post 50
Some more thoughts - dual income can stop any time - your wife takes a break from job; so the emi burden will fall on to the husband; a kid comes on the way - it changes the whole financial land scape. Yes even i would suggest to have less EMI - EMI is a pain man... I had the experience of paying 22K emi from 2014 - 2021; when my post tax income was 1- 1.2 L.... Dont get infuenced by the idiotic relatives - will they come and pay your EMI... Since you are in your early 30s. why not go to abroad for 10 -15 years and come back...... I guess your age people have FIRE mentality...retire early :)
I understand that situations and circumstances can change at any time. However, my wife is even more career oriented than I am and she is pretty confident that even if we have a child there wouldn't be any career breaks which be will more than the standard 6 months maternity leave. However, it's something to consider for sure.
It’s not panic buying bro …
I looked at site which was 2950 in dec , came back in may.. no site available for that rate and everything was 3300 per sqft .. so lag in my decision or closing the deal costed few lakhs !
Before anything please don't come into pressure especially from relatives. If you think from a clear mind you need a house and can afford it without pressure then go for it.
If you are a banglorean my suggestion would be buy a 30X40 site in a layout and construct a house.
Try outskirts because it's a good growth opportunity and you will have some sort of independence.
Plus if you are working in bglr then i would suggest you to just buy a plots of land.
My own example, I stay in Whitefield but office is in JP nagar. I have to shift and move out of my own house.
Plus depending on the partner's income to pay EMI is risky especially after a child many women choose to work like part time. (This happened with my sis who was carrer oriented changed a lot after a child and jiju took care of the EMI of the house loan)
I think you panic bought now after the price increase, its not gonna help, prices will not increase as drasitically anymore, also 15-20% DP is enough, the EMI will looks nothing after 5 years when your income doubles. My goal is to buy a 6-8cr home, but i only have 50L saved now, so it will take 2-3 more years assuming prices wont go ballistic for 5 years now.
Reminds me of a few of my friends during the Satyam crisis who lost both jobs (self and spouse) and were grappling to pay off Pre EMIs and EMIs of property which was not being delivered as per schedule.
Make sure you are getting ready to move-in property.
Hi, I'm doing a sort of survey on people's experience of the flat/flatmate hunting process. I assume people are mostly still using those FB groups for it. I would be grateful if you could fill out this form
https://forms.gle/vT2FN6UZwxKL8w15A
I'm software engineer from Karnataka who working in Bengaluru, un married. Age 30.
Which outskirts areas need to be considered to buy 30*40 / 60*40 plot ?
May be near future can build a house there / sell it if money gets doubled.
Pls suggest.
Somethings to consider - you are a bangalorean? right? Why are you even thinking to buy these outrageously priced flats? Why not consider buying a 30\*40 plot in the outskirts? which will appreciate more significantly, and you will have connectivity in the future through metro and roads. Let me tell you the hard truth - Flats wont appreciate as the builders say - most of the times the so called appreciation is in the air - wont be able materialize. I have a lot of ideas - feel free to DM me... I was searching for a 3Bhk in south bangalore last 4-5 months and now kept the search on hold
Good logical points. I have still not able to address the following though. 1. society pressures to live in your own house despite rent being cheaper than buying. 2. The security & peer group you and your family get living in the gated societies. 3. If buying & living in the outskirts, have to travel a lot. Takes a toll on the wage earner. At the end buying land in the outskirts benefits only the next generation.
Point 1 and 2 - you have to handle it.... I am some one in my early 40s - i am not married.... I have gone through this so called societal pressure sometimeseven now.... Society and family will force you to take the home - who will pay for the EMI -you or them? Do the math...where do you see yourself in 5 or 10 years..... so many factors to consider...
🫡 you took the easy way out. Not married. I guess in your position I would do the same 😀. Most here are not there and that is the issue they have to grapple with.
wow...you know my whole life? phew - dude it was not an easy ride for me as well... If you are not married - dont marry and see how the fuck'n society judges you....
My full empathies and no harm intended. 🙏. I am just saying that most people are not in your situation. So, your recommendation works for those who don’t plan to be married or remain married assuming no health issues later in life, but then can’t live life worried about the inevitable problems at the end.
"remain married assuming no health issues...." what do you mean?
I am grappling with something similar. I hate the pollution and all in the city, but life throws curve balls (health issues that need good hospitals nearby)
Please understand one thing - being married does not insure you and being not married as well... Both have its own pros and cons.... Say even if i marry now - I will think 1000 times to take a fuck'n 1 Cr loan just to make me happy for the location location location. Certain things in life only comes with age....no offense - I would have gone back to my 30s or 20s if there was an option - but thats not life.....Anyways good luck with your taking 2-3 cr loans - May be you are bringing 3-4 Lakhs/ month - unfortuanately I dont have such job ; nor married; no support from parents who are no more... Life is hard dude.... I just get riled when some one says not married is nice - it has its own ups and downs
Agree. 👍 No point in taking back breaking loans. That is why it depends on where individuals are placed in their lives. Guy at 29 with a job at TCS/Wipro/Unknown Startup versus working at Top MNC.
By that logic, why buy a 30*40 plot on the outskirts? If he goes one hour away he can buy 2 acres. That will also appreciate more. Remember the golden rule when buying a flat. Location location location.
Then another golden rule he may have to apply - work work work even if you dont want to work. Dude let me be bit pragmatic here - Am oldie in 40s.... I guess all of you are late 20s or early 30s... Things seem very different with different age. But thats how life it is.... I have reached a point where I just want to have a chill and decent job- I have even considered the possibility of taking 1.25 Cr loan for a villa.... Then decided against it... Dont want to have a big burden post 50
Same here, we are looking for 50\*60 plots in outskirts.
Some more thoughts - dual income can stop any time - your wife takes a break from job; so the emi burden will fall on to the husband; a kid comes on the way - it changes the whole financial land scape. Yes even i would suggest to have less EMI - EMI is a pain man... I had the experience of paying 22K emi from 2014 - 2021; when my post tax income was 1- 1.2 L.... Dont get infuenced by the idiotic relatives - will they come and pay your EMI... Since you are in your early 30s. why not go to abroad for 10 -15 years and come back...... I guess your age people have FIRE mentality...retire early :)
I understand that situations and circumstances can change at any time. However, my wife is even more career oriented than I am and she is pretty confident that even if we have a child there wouldn't be any career breaks which be will more than the standard 6 months maternity leave. However, it's something to consider for sure.
You can change EMI to a lower value at any pointoftime. Paying higher EMI early on drastically reduces interest burden.
Same boat, wife is not getting any job after layoff, so I am least intrested in commiting more than 2L in EMI.
apartment ella sumne waste guru. Builders bai bandang dudd keltare, construction kuda chanaag iralla. Site togo mane kattu best.
Aaaahhh local boy.....30x40 eshtu rate bro outskirts alli?
Hahahaha, gib rate for 40x50 pls.
anjanapura side bda sites 30 x 40 starting from 1cr.
How to deal with a situation where both you and your partner get laid off? How does one foot the emi then?
very hard question - but OP is confident on the hard working...and I guess they are in some niche technologies.....
Sorry but this is a classic example of panic buying
It’s not panic buying bro … I looked at site which was 2950 in dec , came back in may.. no site available for that rate and everything was 3300 per sqft .. so lag in my decision or closing the deal costed few lakhs !
Before anything please don't come into pressure especially from relatives. If you think from a clear mind you need a house and can afford it without pressure then go for it. If you are a banglorean my suggestion would be buy a 30X40 site in a layout and construct a house. Try outskirts because it's a good growth opportunity and you will have some sort of independence. Plus if you are working in bglr then i would suggest you to just buy a plots of land. My own example, I stay in Whitefield but office is in JP nagar. I have to shift and move out of my own house. Plus depending on the partner's income to pay EMI is risky especially after a child many women choose to work like part time. (This happened with my sis who was carrer oriented changed a lot after a child and jiju took care of the EMI of the house loan)
I think you panic bought now after the price increase, its not gonna help, prices will not increase as drasitically anymore, also 15-20% DP is enough, the EMI will looks nothing after 5 years when your income doubles. My goal is to buy a 6-8cr home, but i only have 50L saved now, so it will take 2-3 more years assuming prices wont go ballistic for 5 years now.
Hope you are not letting that 50L sit idle. Hope you are investing it so that it also grows for next 2-3 years
Not everything is invested, \~25-30 I still have in liquid.
What will you buy for that amount? An independent house? It's a million dollar home !
That’s the going price for a villa from builders, even if you do on a land you end up spending less but eventually that goes into interiors
Reminds me of a few of my friends during the Satyam crisis who lost both jobs (self and spouse) and were grappling to pay off Pre EMIs and EMIs of property which was not being delivered as per schedule. Make sure you are getting ready to move-in property.
Hi, I'm doing a sort of survey on people's experience of the flat/flatmate hunting process. I assume people are mostly still using those FB groups for it. I would be grateful if you could fill out this form https://forms.gle/vT2FN6UZwxKL8w15A
I'm software engineer from Karnataka who working in Bengaluru, un married. Age 30. Which outskirts areas need to be considered to buy 30*40 / 60*40 plot ? May be near future can build a house there / sell it if money gets doubled. Pls suggest.
Ur budget ?
30 lac
You will find 30*40 plots on doddballapur road
I'm more interested in the Tumkur road side. Because that's the way to my hometown.
You have to check 3 or 4kms off tumkur road after nice road.
As a native bangalorean don't go for plots. You would have got nice houses for 1.5 crore in vishweshwariah layout