Taking home loan or paying full cash, which is a better option while we purchase home?

POSTED BY MANOJ ON May 27, 2011 4:11 pm ONE COMMENT

Hi,

I am planning to purchase a house. I have some ready cash and gold, which in case i sell off , i will be able to puchase the house without taking any home loan. Is it a good option?

Please suggest or else should i go for home loan and avoid selling the gold…

One reply on this article “Taking home loan or paying full cash, which is a better option while we purchase home?”

  1. ashal jauhari says:
    May 31, 2011 at 9:52 am

    Dear Manoj, What ‘ll be the situation of your over all cash position after purchasing the house from your own funds? Do you still have some contingency funds to fall back upon or not for emergencies after purchasing the house or not? In case your pocket ‘ll become empty after house purchase, my take ‘ll be to go for a mix of cash & home loan.

    Of course with home loan you ‘ll be able to save some amount on Income Tax.

    Thanks

    Ashal

    Reply

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