Hello Guys,

A buyer is interested in purchasing my flat in Pune. I am wondering if folks think I should sell in Pune and purchase in Mumbai as I could need Mumbai flat in the future. Does it make sense to buy in Mumbai as I see many Mumbai guys who are buying in Pune.

Ramesh
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  • Sale of flat in Pune depends on whether your future need in Pune is not there.Do you see yourself as staying in Pune for long?Do you see your job/personal requirement drawing you to Mumbai?
    Depends on whether you have got sufficient price appreciation.
    I dont foresee any immediate hike in prices,slowl hikes are possible.
    Prices in Mumbai are higher and what type of financial outlay has to be made for flat in Mumbai.
    Mumbai guys buying in Pune could be as an investment ,second home etc.
    Sale of a house is a total holistic decision and based on personal situation.
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  • Thanks for the response. My pune flat is paid off but I have to take the loan to buy in Mumbai as prices are ridiculous. I like Pune but I don't see myself staying here for atleast the next 5 years or so.
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  • Are you buying Mumbai home for staying? Remember that Pune house is now an actual asset that (can) produce cashflow. Mumbai house, if used for staying, is not going to generate cashflows directly, only it will save on rent payable. You can show the rent receivable on Pune flat or even Mumbai flat (by saying you will give it on rent rather than occupying by self). This will increase your loan amount. The rent from Pune flat can be used to lessen the burden of Mumbai flat.

    If you are certain that property prices will rise, then mostly Mumbai property will rise faster and higher than Pune's , mainly because its higher initial price. So you may want to take decision soon.
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  • Another question is whether to wait for 1 year and invest or do it right away. Am wondering if Mumbai market will see a correction or not ?
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