Buying a House ? then read this

 Just random thoughts before buying a house but these are very important...do read and think seriously. Don't jump to buy a house because your friends or relatives  are buying. 

These points are from experts and people who experienced the pain of buying house without proper planning


Now that people have postponed their foreign trips, they all want to buy a house….


Let us see if you can afford a house:


– can you afford to pay at least 40% of the cost of the house as a down payment?


– can you afford to pay the EMI on just ONE salary while running your household ?


– will you REALLY save any rent that you are currently paying?


– what happens if you buy the house, and at the same time your wife gets pregnant and is advised bed rest?


– what happens if one of you quit a job voluntarily and one of you lose your job involuntarily?


– remember if you take a 25 year loan, how quickly will you really repay?


– how prepared are you for a loss of job coupled with a fall in property prices?


– do you know at what inflexion point of the housing boom you are buying a house?


– are you buying a house to live in or hoping that the property prices will double in 3 years time as it has happened for your friend?


– using immediate past data to predict immediate future data is a HUMAN disease, and you are human.


– if real estate prices were a NEVER coming down spiral, the BFSI would have convinced you that YOU should NEVER buy but PERMANENTLY stay in a rented house, they would own the house.


– do you have a parent who can step in and take the burden – or are they financially dependent on you?


– is your spouse supporting you with a whole heart or are you PUSHING your agenda on an unwilling wife?


– if things go wrong will your spouse stand by you or bug you with ‘I told yous’


– are you buying as a scoring point, because somebody with who you compete has bought, or you really need a house?


– is it an ego problem that you cannot stay in a Rented house any longer?


– have you asked your boss about your appraisal and also your spouse’s boss’s view on her appraisal and job prospects in general?


– are you over paid? be blunt. If you are and you lose your job…you may not find a new job easily…


– what happens if you are transferred to a different location? can u afford rental there as well as here and the EMI?


Soch lo….lots a thinking questions…

Am not against buying a house , but buying a house is a long term EMI commitment which can spoil your financial planning , if you are not well prepared. 

Do reach us on pcswealthadvisers@gmail.com

PCS CAPITAL were first generation entrepreneurs in financial services . It was formed with foundation stone for creating long-term wealth for the investors through various financial products like Mutual fund s , Insurance , Fixed deposits and Alternate Asset products . We help you understand your financial objectives and make appropriate plan to realise them with proper risk management. rnYou can leave your contact details for professional help in your investment journey.

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