I am going to buy my first house but not sure please HELP
By arpitaman
@arpitaman (170)
India
October 15, 2008 1:26pm CST
Hi guys iam from India and iam just in my first year of my job.
But my pay is preety good.
Actually i am gonna buy a house quite expensive
That's around Rs1.25 Crore
around 320000$
But iam preety scared because i haven't spend even 30,000rs by myself.
I love this house,
It has acourtyard garden in the center
Really unique.
But my problem is I am in Share market and to buy house i have to take a loan.
Shall i wait or buy it now on loan.
I am scared of share market fluctuation
2 responses
@monimo (83)
• Canada
19 Oct 08
the only way you can buy a house is through mortgage, unless you have that much money liquid, as much as the house itself costs.
The prices fluctuate from one year to the other, but that shouldn't really affect yur mortgage payment as much.
Your safest bet is to speak to a consultant or a mortgage specialist and try to figure out what sum you can affor to lose every month to pay for the house, and still live well.
