Got to see a lot of this guy in the internet related to Pune Real Estate.. Does anyone know who is he and how genuine is this guy?
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  • Originally Posted by piyushchamedia
    I really think that buying is in my plan, but this is not the right time. Could you specify reasons explaining why this is the right time ?

    Buying a home, getting married and having or not having children are very personal decisions. Doctor, Pandit and real estate salesman can't tell you to go or not to go about it.
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  • Thanks Ravi, but I believe buying a house is the same as buying a home.So, while marriage and children are personal decisons, buying into anything that is commodity - ,real estate,stocks is a economic decision that requires investment.

    Hence, maybe my question to you would be - economically, is it better to buy or rent in the current market ?
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  • Originally Posted by piyushchamedia
    I believe buying a house is the same as buying a home.


    Buying a "HOME" involves preparing & planning for,

    economy - I want best for my family - am ready to put in more of my hard earned savings to see my wife and kids (if any) happy.

    convenience - Convenient for my family - (wherever possible) near to workplace, schools, market, medical facility.

    Stability - Are the surroundings suitable influence for my kid's - is it a friendly neighborhood? I want to see my kids grow, play, make friends - be in the best influence - make the most facility my money can afford.

    A "HOUSE" on the other hand is mostly about economy - best location at a reasonable price! (with an eye on the future prospects for a better ROI)

    My two cents - When in doubt - renting is the best option ... until you are prepared ( mentally, economically, stability wise ) - and then you take the plunge. Buying a HOME does require moolah, but that isn't the only dominating factor ... if it was only about money and the future returns, then one is probably not ready for a HOME yet ..
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  • Completely agree for Jason86... mature at 24 :-)

    But dont agree for Ravi 4 buying a home is a personnel decision!!! its not & that too at these inflated rates.
    Why not a personnel decision ?? because -- You take home loan that improves bank profits >> improves goverment spending, you pay hell lot of taxes .. you are genuine customer to your goverment instead of someone who reduces their revenue (bpl,politians ,corrupt officials) .. you pay fot it-- its different that you get pissed in the process.

    If you pay black money component then you are working against your nation .. you are making harm to its growth & there are chances that it may be involved complete destructive activities.

    By purchasing a home you honor work done by peoples who work for that project, you have given them work & opportunity.

    So i dont think purchasing a home is a personnel reason.

    Why i say its inflated because its not justifiable to the ratio money is required to buy a home. Like a person who is capable of purchasing of mercedez cant purchase a flat in Mumbai & technically talking their is ratio which is in directly proportion to the earnings of peoples salary.

    In general in US 4times your annual salary should make you eligible to buy a home ( in proportion of your kind of work you do or you will buy in the class range in which you work like if you are a cleaner you are supposed to purchase a home that suits you .. Calculations below

    In Los Angeles a cleaner makes in an average 10$ per hour that makes 80$ per day & if you work for 25 days in month you make 2000$ per month that means 24000$ per year by our formula it requires 24000$ *4 that comes as 96000$ now if we check a home price in LosAngeles a good 1200sqft 2bhk is available for 75000$ (check this
    hxxp://losangeles.condo.com/PropertyDetails.aspx?ID=6922246 )

    Now consider same thing for mumbai cleaner 3000 per month 36000 annually 1.4 L for four years .. a 1 room kitcnen costs something like 6 lakhs in mumbai & thane region. Thats whooping 16.6 times , practically this ratio goes beyond 20times.

    If you make same kind of calculation for any profession & any metro city which is better than Mumbai, Thane & Pune you will come to same kind of results.

    So people staying Mumbai, Pune Thane are not humans or what ?? Why they need to pay this much .. are they supposed to kill themselves by overpaying to builder & work continuously for 20 years as like a slave for banks & builders???

    I just few days back a merchant navy officer killed his wife & girl due to he couldnt repay money he bought from his friends to purchase a flat. If you will turn pages of history there are many incidents like that why because of flat ??? you need to think of that level also.



    So saying that all time is right for purchase isnt correct like all that shines isn't

    Tip: Doesnt want hurt anyone just to present my views
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  • Originally Posted by jason86
    Buying a "HOME" involves preparing & planning for,

    economy - I want best for my family - am ready to put in more of my hard earned savings to see my wife and kids (if any) happy.

    convenience - Convenient for my family - (wherever possible) near to workplace, schools, market, medical facility.

    Stability - Are the surroundings suitable influence for my kid's - is it a friendly neighborhood? I want to see my kids grow, play, make friends - be in the best influence - make the most facility my money can afford.

    A "HOUSE" on the other hand is mostly about economy - best location at a reasonable price! (with an eye on the future prospects for a better ROI)

    My two cents - When in doubt - renting is the best option ... until you are prepared ( mentally, economically, stability wise ) - and then you take the plunge. Buying a HOME does require moolah, but that isn't the only dominating factor ... if it was only about money and the future returns, then one is probably not ready for a HOME yet ..

    Well Said! Thanks!!
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  • Originally Posted by piyushchamedia
    Thanks Ravi, but I believe buying a house is the same as buying a home.So, while marriage and children are personal decisons, buying into anything that is commodity - ,real estate,stocks is a economic decision that requires investment.

    Hence, maybe my question to you would be - economically, is it better to buy or rent in the current market ?

    As per the current government policies if you are earning between 1.6 lakhs to 5 lakhs per annum, you are supposed to be a good consumer and spend money left in your pocket for purchasing products which will boost the GDP.

    Renting makes more money available to consume. So, if you want to become a good consumer you should rent.

    However, if you believe in creating assets and increasing your personal worth you should invest in yourself - buy a home for your family.
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  • I strongly disagree.
    When you buy a home on 80-85% loan, its bank who creates asset and not you. You created a huge debt on urself under speculation that you will earn more out of it than the interest paid. If home price does not increase significantly (more than 10% a year) then your debt does not perform.

    If you want to create asset, invest in yourself. Invest in acquiring skills, any higher education, buy electronics and gadgets and spend on long vacations. This way you will built a happy family and valuable 'you'. Invest in self not house.

    Originally Posted by ravikarandeekar

    However, if you believe in creating assets and increasing your personal worth you should invest in yourself - buy a home for your family.
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  • Originally Posted by ravikarandeekar
    As per the current government policies if you are earning between 1.6 lakhs to 5 lakhs per annum, you are supposed to be a good consumer and spend money left in your pocket for purchasing products which will boost the GDP.

    Renting makes more money available to consume. So, if you want to become a good consumer you should rent.

    However, if you believe in creating assets and increasing your personal worth you should invest in yourself - buy a home for your family.


    Hi RK. A Home is an asset only if you can afford to purchase it outright. Till such time to are paying off the loan amount it remains a liability. Unfortunately because of the real estate prices there is no other option but to take recourse to a loan. You should advise your builder colleagues to keep prices fixed for a year & keep them in line with the salaries that people are earning.
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  • Rightly said. Stay rental till market comes to a reasonable levels. Till then enjoy the other things in life which are also equally important.

    I prefer staying on rent in current circumstances, than buy a house on loan and be worried about my job and how can I repay my loan or how can I make more money.

    After all some "intelligent" people have invested in buying the houses in which I will be staying on rent. ;) . Let them worry about the appreciation of their property/investment's worth.

    Originally Posted by aditi sharma
    I strongly disagree.
    When you buy a home on 80-85% loan, its bank who creates asset and not you. You created a huge debt on urself under speculation that you will earn more out of it than the interest paid. If home price does not increase significantly (more than 10% a year) then your debt does not perform.

    If you want to create asset, invest in yourself. Invest in acquiring skills, any higher education, buy electronics and gadgets and spend on long vacations. This way you will built a happy family and valuable 'you'. Invest in self not house.
    CommentQuote
  • Originally Posted by ravikarandeekar
    As per the current government policies if you are earning between 1.6 lakhs to 5 lakhs per annum, you are supposed to be a good consumer and spend money left in your pocket for purchasing products which will boost the GDP.

    Renting makes more money available to consume. So, if you want to become a good consumer you should rent.

    However, if you believe in creating assets and increasing your personal worth you should invest in yourself - buy a home for your family.



    Well, I really think now that you are a really good salesman but NOT an good advisor who cares about the future and well being of people. A financial advisor would tell you that you can become rich just not by investing in Real Estate but also in (Sona) and stocks. Globally, only stocks can provide a 15% annual return compared to 5% in real estate and (sona).
    So, what you mean to say is nobody makes money in investments other than real estate, by the way why dont you try explaning that to a Reliance shareholder or a Warren Buffet who figure in top five richest persons in the world . Even Mukesh Ambani holds more wealth in stocks than in his assets and Rakesh Jhunjhunwala(6000 crores of stocks from Rs 6000 in 25 years) is even richer than Mr.DLF or Mr.Unitech who are
    in serious debt .
    Bank loan on a house(emotionally called "home" by builders), is a BANKs NON PERFORMING ASSET and YOUR LIABILITY.

    So if a liability is called an asset, in an ecomomics exam you would score zero.
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  • Originally Posted by bheeshma
    Hi RK. A Home is an asset only if you can afford to purchase it outright. Till such time to are paying off the loan amount it remains a liability. Unfortunately because of the real estate prices there is no other option but to take recourse to a loan. You should advise your builder colleagues to keep prices fixed for a year & keep them in line with the salaries that people are earning.

    I can understand your sentiments.
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  • Originally Posted by mymarji
    Rightly said. Stay rental till market comes to a reasonable levels. Till then enjoy the other things in life which are also equally important.

    I prefer staying on rent in current circumstances, than buy a house on loan and be worried about my job and how can I repay my loan or how can I make more money.

    After all some "intelligent" people have invested in buying the houses in which I will be staying on rent. ;) . Let them worry about the appreciation of their property/investment's worth.

    Yes, 2003 - 2009 real estate market is over. Soon, this would be the most popular idea in a certain financial bracket. I completely agree with you.
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  • Originally Posted by piyushchamedia
    Well, I really think now that you are a really good salesman but NOT an good advisor who cares about the future and well being of people. A financial advisor would tell you that you can become rich just not by investing in Real Estate but also in (Sona) and stocks. Globally, only stocks can provide a 15% annual return compared to 5% in real estate and (sona).
    So, what you mean to say is nobody makes money in investments other than real estate, by the way why dont you try explaning that to a Reliance shareholder or a Warren Buffet who figure in top five richest persons in the world . Even Mukesh Ambani holds more wealth in stocks than in his assets and Rakesh Jhunjhunwala(6000 crores of stocks from Rs 6000 in 25 years) is even richer than Mr.DLF or Mr.Unitech who are
    in serious debt .
    Bank loan on a house(emotionally called "home" by builders), is a BANKs NON PERFORMING ASSET and YOUR LIABILITY.

    So if a liability is called an asset, in an ecomomics exam you would score zero.

    Yes, my friend, i am real estate salesman.
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  • Piyush, you got builder friends:D:D:D
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  • Originally Posted by pcpune
    Well, I really think now that you are a really good salesman but NOT an good advisor who cares about the future and well being of people. A financial advisor would tell you that you can become rich just not by investing in Real Estate but also in (Sona) and stocks. Globally, only stocks can provide a 15% annual return compared to 5% in real estate and (sona).
    So, what you mean to say is nobody makes money in investments other than real estate, by the way why dont you try explaning that to a Reliance shareholder or a Warren Buffet who figure in top five richest persons in the world . Even Mukesh Ambani holds more wealth in stocks than in his assets and Rakesh Jhunjhunwala(6000 crores of stocks from Rs 6000 in 25 years) is even richer than Mr.DLF or Mr.Unitech who are
    in serious debt .
    Bank loan on a house(emotionally called "home" by builders), is a BANKs NON PERFORMING ASSET and YOUR LIABILITY.

    So if a liability is called an asset, in an ecomomics exam you would score zero.

    Dear pcpune, i was answering the question - "Hence, maybe my question to you would be - economically, is it better to buy or rent in the current market?"

    Not real estate as an investment product!

    It becomes "BANKs NON PERFORMING ASSET"if you don't pay your EMI!
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