Should you delay home buying or not buy a home at all ❓ Interviewed by @iankitasaxena Thank you @finnetmedia & @bhavika.1207 for this . . . . . . . . . #financewithsharan #homebuying #rent #realestateagent #realestateinvesting
And a home can be made out of anything, even a tent or cardboard boxes. The point is, we define what we should call as "home" and it doesn't have to be necessarily the one which would cost us our entire life savings and put us in debt forever.
@@ajayburra2691looks like you don't have a nice landlord. Living on rent is not that bad if you have a good landlord and especially if you are living in a city. You can shift your house whenever you shift your job unlike having your own house. My colleague is spending 3-4 hours every f*cking day in Bangalore traffic to go to office (to and fro) just because he has a own house in outskirts of city. He could have given it for rent and stayed somewhere nearby. But he won't. Instead of owning a house, buy some land or invest in other important things like providing good education of your kids, health etc.
The same thing said in rich dad poor dad... He is talking about what people should think by brain that's why it's a liability though for people a house is a home, a emotion!
Most of them already have their stocks and their investments . And they are able to purchase a house because they have earned that kind of money plus their investments beat their loan amount by huge margins.
@@iamuzumakianduchiha776they just do paid promotions and make money and invest in real estate and Gold. Stock markets are risky assets. Unlike Mutual fund houses know when to put and remove money. Don't fall for all these traps. If you don't have a house then you need to try your best to get a house. Not everyone earns 2 or 3 lakh per month to save and later invest.
I started working at the age of 23. A 1000 sq ft piece of land in my hometown in a decent location was costing around 30 lakhs. I didn't buy. I turned 30 wanting to buy but now the same piece of land costs 75 lakhs. I had to go farther atleast by 5 km to buy the same area of land in the same budget. Hence, land itself can be a great investment too.
That applies mainly to land, but these days, most people buy flats, especially in tier-1 cities. Additionally, if you're purchasing land to build a house, you may not be willing to sell it unless something goes wrong. Therefore, I agree with financial influencers when they suggest delaying the decision to buy a home.
My grandfather retired and with hus retirement money , some loan etc , we bought a land worth 3 lakhs ( around 2005 ) , now we have a 3 floor house on it and the cost of land itself is around 1 crore .
Should you buy a house? No. It costs your savings. Should you eat? No. It costs your savings. Should you live? No. It costs your savings. #We don't live to earn. We earn to live.
@@DisciplinedTrader27its a yt short, you think people choose to put him in the reel? and anyway the commenter is correct, you earn to live not live to earn, what are you gonna do with all that money if you're dead?
When he said don't buy a home, what he meant is cleverly invest that money where it earns interest that makes your life easier. Not just sit idle an cry later
@@terex1394guess you need to learn about leverage that's easily avaiable for buying a home and only for buying a home. Someone who could afford to invest 2cr in a house can't afford to invest 2cr in share market. No one will give a 30 year loan at cheap interest rate for investing in shares. So a 10% return on 50L would be 5L but 8% return on 2cr would be 16L. Now ofcourse you have interest cost on the amount you borrow but you also need to consider 2 to 3% rental yeild which will only increase for you over the years as rent will increase but your purchase price will remain constant. All these concepts are cleverly hidden by financial influencers
Bro when u have a family. It's a must for Indians to have their own house. It gives a sense of security and freedom to modify the decorations according to our need
Its not about indians man come on you indians are a one kind of species its about every HUMAN to buy there own piece of land dont listen to these youtubers they should sell there mama papa house also.
Bro with that 25k per month income you shouldn't buy a house, in india there is huge debt in banks due to non repayment of loans, we indians take loans but how to repay them we don't calculate never, and also we have no headache of cibil score
@@promate1698 then definitely buy a house, but if you already own a house, like i got my grandfathers house , we renovated it , and it is just fine for another 20 to 40 years, and also we brought 2 flats and hold them for rent, and we had 3 more flats in our house which we rent for PG. So we got extra income plus i am working, and my father too.
life is not about financial goals only.. life is full of desires... buying a house is a dream for many that could come with a price but may be a price worth paying for
The equation is very simple,buy a house who's emi costs you equal to your rent. So make sure you collect a corpus that make sure your emi is not 10/20% more than your rent The catch here is the rent will keep on increasing but your emi will mostly remain constant so you are actually saving money this way
I doest’t matter, all it matters is when and where you are buying house . I bought for a very very good price during the peak of pandemic and now it has doubled .
We as humans sometimes buy something not considering liability or assets but considering peace of mind. Every month when your landlord is standing for rent, your rent increases faster then your salary, you might need to change house once the agreement is over shifting expenses plus time. There are few things in the world for which you cannot be so practical. Not buying a house might save some amount for you but buying a house will bring peace of mind.
I will not treat the home as a liability or asset. It's a family thing. Life is not about piling up money. It's about creating memories that last up to your lifetime and home is one of those memory that last until your last breath.
But it’s based on affordability as well . Many get into pressured life because of the pressure of loan they have to pay every month. Many can’t afford it yet they buy it which will burden their family as well . People should purchase based on affordability,
@@iamuzumakianduchiha776 yep true that. But home can be considered as investment. So that our next generation can live in that pics of land without any problem. So I think everyone should own a home not a rent.
Nah don't agree unless u can save some money while paying off the emi .....but wht if ur whole salary goes for expenses and ur emi and somehow u are laid off ....nw bank gonna kick u out....but if u hadn't bought the house u could have made some savings whc could pay off ur rent atleast till u get one job
In life its not all about asset and liabilities sometimes its about what makes you feel and good and nothing can give you than owning your house of your own
In cities like mumbai, where the rent is equal to the monthly installment, it's a fair choice to buy house first, as you're spending the same amount on the rent
Disagree....if u r paying emi of 50k ....the same house would be available for 20-30k for rent and if u want a house of rent 50k the same house EMI would be around 100000
Let me give the most basic financial knowledge you need : 1. If you're earning, save money monthly, and invest it index funds. 2.Only purchase items which you can afford ( price of item/monthly salary < 0.5) 3. Only buy term insurance and health insurance and be truthful to insurance company about your condition. 4. Don't indulge in F&O and Crypto. 5. Don't listen to media or your friend for some hot tips out of wazoo, if you don't understand anything about the market, invest in MFs. This is the basic, buying house, assest, liability, assets management, hedging risk, diversification alana falana, knowing about them is good but for a non fin guy, following all this is hard. You need peace more than money. You can waste your time trying to save money form loopholes here and there but that money will be of no use. Get busy livin or get busy dyin.
@@Tusharchitrakarbhai aisa hai na is scenario Mai kisi bando ko family chahiye and settle hona hai, har koi toh startup kholega nahi? And it’s genuine that a father won’t give you his girl agar apna makaan na hua toh and ek point pe har kisi ko apni family chahiye hi hoti hai. Life akele nhi chalti bhai
@@anuragrawat3795 father dont 'give' their daughters these days. its a decision of girl as well. and its a toxic pattern of demanding a house from a guy just coz male gender lol.
Guys just do what you want. Don't listen to anybody. It's your life. Life is lived only once. Make mistakes, learn from it and move ahead. Just enjoy the essence of it. Don't live it just for the sake of living.
Bro has taken "rich dad poor dad" seriously without understanding the reality that the author itself became rich not by investing on assets but through selling his books.😂😂
Always buy a house and pay it off first. In an unpredictable and chaotic world, in the worst circumstances, we will atleast have a house to live in and call our own.
There is no use of buying a flat, as after 10 years of purchase if I want to sell that, the rate remains same. However when it comes to invidual house, the rate is increasing depending upon the area.
until we buy a home consider we are living in rented property... obviously we pay rent.. but why can't we convert the rent into an emi...and finally become an owner
@@arpitojha3120 yeah the rent can increase but it cannot be equivalent to EMI Then what you mean is rental yield and emi is same I can bet that situation will never happen in a country like india.But in dubai or other countries the loan interest is less than rental yield i dont know how that happens. So rent can increase overtime but it might stop at a ceiling of 6% And the home emi rates are also uncertain right.Lets say home emi percent is 10% Then matter is how this 4% gap will be financed.If they can find this answer then fine
Home is like food, neither asset nor liability its a necessity and one should buy it depending upon their capacities. It gives a sense of satisfaction, SAFETY and joy to live in your own house. Not everything should be purchased on basis of asset or liability.
Buy a house, no matter what the size or specs. Everyone should have a house of their own coz that’s the only place where you can survive a recession or a pandemic. If your EMI is less than 30% of your monthly salary, it shouldn’t be a problem.
It’s a simple answer if you don’t own a house , then work towards it and buy it so that you can call it “Home”. Once you have that your mindset will shift towards investment and then buying properties will have a new meaning to it. During that stage of life you either invest in real estate or just do MF, stocks etc
In mid 40s most of the banks will not give you a Home loan and the ones which will give it,they'll ask for inclusion of another family member in the loan who is young.
If you dont have a own house, buy one first. It is safety net. Think of money you put in Mutual fund, it may get vanished at anytime for eg you put money in MF for house and the moment you want to buy house what if market went down like in 2008.
Here's the thing, whatever property or home you buy will always gonna be expensive in future, so never delay , who knows what you retain what you don't but atleast at end when you'll have less energy you'll rather glad you own one liability i.e. house , else you can decrease other liability
@adityachaturvedi4467 I am not in any situation I just kept the facts.Finanacial knowledge is good by this gentleman no doubt but don't by a house or retire early are all bullshit atleast in my case.Comming from lower middle class family and living in mumbai first thing for me was to have my own house
@@afdcg most of them do . There way of business is based on how they utilise their followers to get more money. Do you even know how much they charge on one sponsor. Plus RU-vid ad cents for financial RU-vidrs is really high . They do make a lot of money and they are not as dumb as you think they are . And most people in our country don’t make that much money as those people do .
@@iamuzumakianduchiha776 they surely make good money. Who said that they made a lot of money? There was a time maybe in 2016 and 2017 with less creators on RU-vid and more money via promotions and ads. Most of it doesn't apply for the current ones. Today people don't make that much money on RU-vid that's the reason they sell courses, books etc. And depending on how gullible their audience is they make money. It's not sure shot money. It's the timing. Buying a house is better than renting you idiotic fangirl.
If you are high net worth individual single person buying house is not worth it, if you are middle class with children buying house is the only option. People need to understand what category they belong for making these decisions.
I am 21 I left my parents home for personal reasons and when I started earning I bought house reason for that is food shelter and clothes are basic necessities and I can't risk them if that are secured for me then only I can focus on further growth with my business
This formula won't be applicable to all. If ur saving / investment returns are crossing inflation by 1.5 to 2 times yes positively u can go. Otherwise it makes no sense saving when ur outcome is same as house value
A House in big cities is a big appreciating asset for all ppl upto upper middle class. It's a fine investment and mentally too u have an abode you own. I don't know from where these lunatics advice the opposite. Be it Agricultural land or residential/commercial, these are safe and proper assests. An house which would cost 3cr in 2017 or so costs 10cr now in Bengaluru.
Bro my dad built our family home 20 years back. For 15 lakh It's worth more than 80 lakh now(assuming the least offered amount to us till date) Assuming rent back then for such a home would be 5000 with a 5% increase in rent each year which comes to about 12 to 13 k rent in present times (it's the current market rent where iam from now) Total rent for the 20 years for similar home would have been about 20 lakhs. And now if had to buy such a home again I have to buy by paying 80 lakhs. This is again not considering any moving expenses which might had to endure due to landlords. We had a safe place to live without any hassle. House is still strong. The land price alone now 50 lakh worth. This the safest way we could have invested our money back then. Now till my life time also I can use the house no problem with some good interior modification for my future family.
By this we could also conclude that giving birth to baby is also liability but by same means if we give birth at 40 years then it could lead to complications Same goes for house buying at 40 years will have issues and complications now a days
I bought a house at the age of 27 and repaid the loan within 7 years. Now the value of my house has increased by almost 20 lakhs. And I'm worry free also 😊 Sooner the better.
@@roshanshetty8423 go ahead ... It may seem difficult in the beginning, but after a few years, as the salary increases, it will become more easier. And the satisfaction is incomparable
A house is an emotion, a necessity, a dream, a security, a place to relax , get together, place where u watch ur children grow, place where u see ups and downs of ur life. In a nutshell, all u have or will save for. The sooner u have the better it is. On a practical note, by the time u are in 40s, prices would be through the roof. A better finance decision would be that as soon u start ur career, buy a house, parallely invest. Keep some money for contingency as well. And yes, I bought a land for 4.2 lacs in 2007. It's valued 1.1 cr today. I am 42 and have build a 2 storey house, have an apartment as well. Saving is decent. Never borrowed money from parents either.
I think shelter is the greatest blessing one can have. If you ask if it is an asset or a liability depends on how happily you spend in it. If you are happy you feel like you are in the lap of your mother like a child else you feel like you are on thorns. Never compare your home with market just live. I really get irritated when guests as me the market value.
Bhai , sab kuch Excel pe nahi hota. Khudka ghar hona ek satisfaction & peace hota hai. Sab excel mai daal denge, toh pani pine ke liye bhi litre/utility ka formula lagana parega 😂
Nowadays we are living life as a challenge or task or any sort of mission. Cmon guys live life your fullest and do whatever you want...what makes you happy
Simply if you are well planned and financially sounded with precise calculation of your income and emi , you're ready to get yourself a house. Remember getting a house for your need and getting one for your investment is entirely different thing
Buying a house is a personal choice. An independent house these days fetch a princely resale. That cant be the case for an apartment, however, basis the builder and building maintenance we see flat values appreciating as well But more than all of it, the feeling of living in a place where you cant be thrown out or without the anxiety of a landlord and having the freedom to decorate it the way you want is PRICELESS
Your home isn't necessarily a liability even if you live in it. If the capital appreciation of your house beats inflation+costs, it's an asset! Not a great asset, but an asset none the less... You don't necessarily have to rent it out. Also, the annual rent in most cities is hardly 1-2% after paying taxes, maintenance charges etc... which is not that significant in the first place. And the value it adds to your life is also worth considering apart from numbers.
Hi..Am Raj..Myself started to work in 2006, Accumulated my savings at bought site in 2009 & then invested in stocks..till 2022. I book profit in 2023 and constructed my deea home ..Profits were equal to 40 % of cost of home..
House can be an asset or liability it's people's choice, I have seen many people in both but 80% is Asset because in India the shortened way to income/growing money is a real state business Even the stock market can't give that.