At the age of 24 a son/ daughter gets advice saying “do not just waste your money ..buy property”. The property is expected to give you about 23% p.a. for the next 200 years of your life.
So people buy RE to flip it and double their money. Soon.
Now there is a big, big difference between doing a SIP of Rs. 10,000 per month and paying an EMI of Rs. 10,000 per month. When you do a sip it means you have made a down payment..and have borrowed money. So your EMI is a loan repayment.
If you lose your job or if there is an emergency YOU can stop the SIP without any penalty. In case of an EMI you are stuck.
Property prices go up, remain constant or worse prices come down…oops thought of that?
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