RAJESHP

Agree with you that Flat is no more investment avenue. If the rent fetched from the flat covers for your EMI, property tax and maintenance then It can serve the purpose of safe parking the surplus money, right?


"Buy if you can afford and for end use" this seems to be widely accepted strategy on this forum. while I tend to support it, I have one issue with that. In the above case, you say that since you are not going to sell it, it does not make difference if price goes down from 50L to 30L.

That's not quite true. It does make difference. In the case above, you would have owned the same house/flat with 20L more in your bank account. In addition you pay (unnecessary payment) interest on this extra loan amount, which on a tenure of 20 yrs loan with ~10% interest amounts to another ~20L.

I am absolutely not saying that we will be able to buy at rock bottom price, since no one knows the bottom and when it will come. And for that matter if prices are going to go down at all or not.

But since we had this crazy run 04-07 and now prices clearly struggling to cross the peaks of 08, its worth while to wait, since buying house is a huge investment we make, so must be very sure of what we are investing.

And on top of this our wait is made very comfortable by existing land lords, in form of cheap rentals. So guys happy renting.

perrenialquest

Realacres active participation is invaluable to this Forum. And so of others like Wiseman, Venkytalks, puser, abeerbagul, hitmady and many more (mahesh2k, kothrud.... and countless others.......pls don't bash me for not mentioning your name exclusively)

Everyone who visits this forum should know that the comments and analysis of these good souls are their personal views, opinions and should be reflected on with your own perspective. Each one has to apply or weigh them in their own context/situation as its naturally different though there are a lot of similarities.

I feel I am obliged to most of them for a cup of chai or a glass of beer at the least

Thanks a lot to everyone!

perrenialquest

This above post was in response to VijayM's post.

Space

Waste (also referred to as rubbish, trash, refuse, garbage, or junk)