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Buying Or Renting - Please Suggest

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Buying Or Renting - Please Suggest

Last updated: August 14 2010
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  • Buying Or Renting - Please Suggest

    Hi Friends,

    I am working in Noida, Staying in Builder Floor Indirapuram (I think this is the cheapest and best location near Noida).

    Currently paying 9K/PM rent, thought of buying own accomodation from my personal source. My Budget is 20-22 Lac (18 Lac Loan from bank).

    Have some options:
    • Continued to stay on rent for nxt few years and book a flat in Noida Extension (Greator Noida). As Noida Extension is cheap option available now but very uncertain and very far from reality.
    • Buy an Builder Flooring here in Indirapuram. Not Much Apprreciation of Property, Also Can't stay long in builder floors.
    • Look for some other options like Crossing Replick, Raj Nagar Extn, Greator Noida Or Some where in Faridabad. Don't have much idea about those location in terms of property value, not preferring remote location.
    Kindly Suggest.
  • #2

    #2

    Re : Buying Or Renting - Please Suggest

    Compare your EMI vs your rent. EMI will be 18K and rent 9K.

    Benchmark is if your EMI or rent is less than 33% of your salary or income or, then go for it else continue to stay on rent be happy and wait for the best opportunity.
    Prices will not hit the roof in the locations that you are looking at.
    MM

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    • #3

      #3

      Re : Buying Or Renting - Please Suggest

      Agree completely with Munish. Good advice, tgupta.
      Venky (Please read watch a or before posting)

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