Hi friends
I would like to know your suggestions
I m planning to buy one property(flat) of 28 lacs. I have 2 options
1. I can buy it by paying full money(without bank loan) OR
2. Pay some amount in cash(say 5 to 7 lacs) and remaining amount as loan(which would be 20 to 21 lacs).
(Note : Currently I am abroad so I can not make use of home loan tax saving for another year or two. )
From my study, what I think is that if I could find a opportunity which can beat home loan interest by good margin(say 2-3 % more than home loan) then it makes sense to take home loan and invest the equivalent capital into that opportunity which beats home loan. Also, once i m in india I can take advantage of income tax benifit on home loan which is after 1 or 2 years.
Also, I am quite align on my monthly investment for retirement and other goals thrugh MF SIP’s.
I would like to know your suggestions on this
thanks in advance
Amol