Hi
Everyone around me is taking home loan and buying a house… now as far as i understand repaying a home loan in terms of EMI costs one double or more by the time u finish the loan period… What i want to ask is what approach is better ?
1. Putting money in Diversifed equity fund for say 15 years with a SIP of 10K and then purchasing the house on downright purchase
ELSE
2. Get into the hojme loan trap and then forget bt MF SIPS as u a general salaried person wud then never have that savings to direct towards MF invstmt.
Iam 31 nd can save upto 20 K a month. Currently all savings is directed towards Equity MFs and ppf for the debt ..ratio as 90:20
I was forced to introspect as everyone ard is just hell bent to acquire home as an asset as world economy is too volatile and also the rentting vs owning house arguemtns…..jst wanted to be sure am i going in the right direction or not?