Hi All,
I love this blog and the forum and just bought the book. I need to learn quick. https://www.dropbox.com/sh/tpw7ewjpbh97kpk/8a9BvEwfsg
I found a very good deal to buy a House in a gated community in Hyderabad, next to a 12-lane road and 20min from work. Best part- It is ready to move in!
I’m not yet sure if this house is for investment or to keep for myself. I have mixed feelings.
and cant decide between 2BHK or 3BHK!!!! HELP!!!
2BHK = 36.5L (rent 10k now)
3BHK = 44L or 46L (option 2) (rent 14k now)
Down Payment = 20L
Loan Tenure = Max 10 years
Google Spreadsheet:-https://docs.google.com/spreadsheet/ccc?key=0Asr2c4dnvWo5cGhQT2tRWTB6RVpuT3AyaUkyY193TUE
We would like to go for 2BHK, but there are limited options, we did not like the house (ventilation is not great). At the same time there are multiple options to choose in 3BHK but I’m hesitating because of the price difference. (Community has 2BHK and 3BHK)
Some background:
I’m 33 years old and recently married. Both of us work in IT.
I hate taking loans (I have none now) and I dislike credit cards – never defaulted and hardly using them now. But at the same time I havent done any investments except for PPF.
My wife would ask me to think about a house, and I always said No. But suddenly I found myself really liking a house. I believe the price is very good and would also like to live here. But I will also not hesitate to sell it in 5+ years, if required.
Imp:- We are planning to have kids in a year or two and she would like to take a 3-year break from work. (We also love travel & adventure, tried scuba diving & planning sky diving next year)
Now rather than being an emotional decision, I want this investment to have sound financial sense. Everybody wants me to take a 3BHK, but I dont want to rush and make a mistake.
This is where I need help from you (or even professional advice). I did some math to make sense of my costs, but I may have missed some important paramaters.