You are 28 and if you have still NOT bought a house, I am sure you are in trouble! Most parents / uncles / elders….would have told you how you must buy a flat in Ulwe, Uran, Panvel, – assuming of course that you cannot afford in Marine Drive or even in Mira Road!
So what are the impediments to buying a house? Money of course.
However some of your own behavior is also an impediment to buying a house? Let see:
1. Over spending: if you spend Rs. 1000 a meal when you eat out, and you eat out say 9 times a month, that is Rs. 9000.
2. Renting a place far bigger and more expensive than what you need. No comments. Your call.
3. Paying brokerage every time you shift houses (when on rent) – this increases your rental costs by about 15%.
4. A car. Buying a Rs. 8L car does not seem to be too expensive, till you realize that the car runs on petrol / diesel and servicing it costs cash. God bless you, but a car costs about Rs. 14k a month…at least?
5. Not having adequate medical / car insurance – one medical emergency can set you back by a six digit figure. That hurts.
6. Living off the plastic card – and not paying on time.
7. Spending your future earnings! Today loans are available for everything – marriage, honeymoon, vacation, ….the more you borrow the more interest that you pay.
8. This of course must be the first point – EARNING much less than your potential – because of your geographical preferences…
there could be more….but this is not a bad list to start with.
See where you stand. ……
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