Related Posts
Can anyone give an opinion about joining Cognizant Bangalore now ? I have 1.8 YoE and they are offering a pretty good hike but I have heard news like there's managerial changes happening rn and many people are leaving the firm. Your opiniors will greatly help me in making a career decision.
Can u help me with the in-hand amount please?
How much does an LPN make at NVNA in Norwell
More Posts
Pro
I got more in AIP than Trump paid in taxes 😂😂
Bowl Leader
Is biglaw litigation slow right now?
Thoughts on Wpromote?
Is this true ?
Coach
Additional Posts in Consulting India
Whats better on client site or in office ?
How is Zensar technologies as per work culture?
Can I get 11 likes please...
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
I would suggest buying your own home instead of buying with your brother. There will be big differences between your wife and your brother's wife.
Why dont you buy two houses... one each... I have taken a 3bhk home along with brother and there are a lot of issues that come up.. better you have your own and he have his own...
It gets very difficult post marriage.. I am experiencing the same
This thread is lit 🔥
What's the final decision author? Your post deserves a closure 😆😄
Chief
The problem will start when dividing the property, then who will get this apartment? If you want to give a place for your parents to stay then choose either a tier 2 or tier 3 city and get it under 35-40L. In this scenario both of you can provide the equal share in EMI which will be significantly less and you can invest the remaining amount since your parents and brother are not a big fan of investing in equities it seems. This is the simplest way of not having any problems, having a place for your parents to stay in the future and in case if you do not get this it won't be a huge financial burden on you.
And if you are planning to take the apartment then you would need to pay 30-35% as EMI and in case of an apartment of 1C, I would suggest having a down payment of at least 35-40L, so the EMI burden won't be huge.
Bro dont go for emi aur loan its really terrible for growth becuse of repo rate invest in something that give more than 15 percent wait sometime
As far as i know two brothers cannot buy one property together…you can have joint registration with wife or parents but not with brother.
I know a lot of comments are there, instead of future financial perspective you'll have to think more about what will happen after you both get married. Things are a whole lot different after marriage. Seeing the current trend people prefer their own space and small families. What if in future your salary gets increased but your bro is on the same, and you'll have to shell out more money. This will be ok with you but there are changes your wife might not be. So i guess it's better to look for the jodi flat side by side. As for emi, it is for 20 years you can clear it off even before that, refer to multiple financial articles or channels.
I can't afford shizz paying off parents debt which for some reason was not incurred because of me but because my father wanted to change the life of my drunkard uncles yes uncles 3 of them. That got him in debt of certain amount which if used correctly would've helped my younger brother pursue his dream MBA sinc ehe cracked nmat and stuff. Now I'm paying his debt off and seeing my younger brother's dream die a slow death right before my eyes. It's painful my 2/3rd salary goes into paying off the debt, and my mum's worried about marriage and here I'm thinking twice before buying a 20rs kurkure.
Go for it coz it's easier trust me, I ll tell you why.
Me and wife are both earning and we bought a 3 BHK in 2020 at 94 lakhs. We didn't have kid then now we have and in 2022 our salary has almost increased by 50%. Full EMI still not started.
Possession is 2023 Dec.
We have a 20 yr plan but but we won't be taking full loan from Bank bcoz saving money has been easier in pandemic.
Couple of points,
1. With time your salary increases and before you know it the EMI will start looking less. It happens bcoz salary increases
2. With more salary you'll have more savings in future which you can use part of it to increase your EMI by even 5k-10k your yer decreases drastically.
3. There will be a time after say 8 yrs of buying home you'll be in a position to pay off the Bank and clear all dues but you'll still continue bcoz you can save income tax and use the surplus money for second property.
4. The prices of houses never comes down bcoz money value is decreasing so buy as soon as you can else you'll get 100 sq ft lesser house at same price next year or 15 lakhs costlier
But with time the value of builder houses decreases.
It depends on how much money you have in your account apart from the Loan amount and where you live or looking for a home?
Definitely, it's not wise to pay EMI for 20 years, better to have two apartments with smaller sizes like 2 Bhk, try to make most of the downpayment, and if you research well, you might find resale 3 bhk under 80 lakhs as well, it all depends on location.
Don't go for builder floors, with time the value of such apartments goes down, try to find a house in Society.
Forget everything but learn a car or bike first .. Get an automatic car otherwise you will have to dependent on someone always and your kids will have an disadvantage if compared to you brothers kids.
I can tell that because I have lived in a joint family and my father was too much dependent on my uncle which is not good for any of us.
Pro
True 💯💯
If you want to live with your family, be neighbors. Don't buy one property to live together it'll only lead to more conflicts, unless you want your daily life to be StarPlus drama.
I am just wondering about the age of the author and his brother....which company
Is paying so good before marriage 😉
Pro
Fixed, 22 lpa
With 17LPA, I am paying 32K EMI then I don't think you should have any problem with 22+23LPA
Try to avoid buying one common flat for both of you. Your big b and family will start owing it and use you only to pay emis. What I am getting thta you are not confident enough to decide. Tell them that it is very early and your work location can be changed in future then home will be of no use.
Your bro is settled in city and looking you as option to invest your money. If you really can't do anything, try getting job in different metro city and move asap. This will save you to invest in unwanted property. Until you are not married, do not get stuck in property matters, you are not sure of your future wife preferences, also it is time to enjoy your 20s-30s age debt free.
Don't listen to the people in the comments. Just because they can't live with their family post marriage that doesn't mean it's the same case with everyone.
You brothers have a very good understanding it seems. So try to convince your brother by stating the cons. And listen to your brother and let him tell the pros.
Then analyse both pros and cons and then you both can decide.
Bro if you don't have any home then buy one simple. You can easily pay the emi within couple of years.
Does you and your brother is married?
What's your brother's age?
Pro
This is a shit post, guys (and gals). But this one is of the loveable kind!
Chief
You said you are 5 people. You+Your Brother(Earning)+2parents
Are you or your brother married? Or have 1 more dependant sibling
Chief
So basically your brother is married.
One thing to keep in mind, no-one is asking you to fight your family but have just a healthy and polite discussion with them with valid facts and use cases.
If your bro and parents still not convinced then you will get your answer. It means there is no value for your mindset in the family, better to move out for long term peace and loans. Why you are putting your future wife in a shared property? It will be of no use because two same age/generation working ladies will surely not going to stay in one flat for long term. This is an evident fact because our generation is independent and most girls are raised independently today. In future, you may need to stay on rent with paying emi of shared flat because your bro would be settled by then and probably leave a small room for you in flat then your wife/friends may also make fun of your decision.
Tell them to delay decision till you are more settled in job (indirectly you should be buying time till your marriage).
Nowdyas buying home is a trap, actually we don't need own house when we ar at young age. Better invest wisely somewhere make another source of income and try adjust the EMI with that income if you really still wanna buy home