To keep up with rising cost we are beginning to see the equity of our home for what it truly is, Its becoming hard for us seniors not to ask the obvious question: Should we cash in, invest the money, and rent?
Have you thought about keeping up with the whims of a Landlord? I am invested fully in the markets under a custodian who is a fiduciary to me and my beneficiaries. You shouldn't sell your home with a good plan. might only work if you are looking at investing under 5yrs
Sincerely it's best to seek a fiduciary right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
First time kisi video me house buying k benefits ko bataya gaya h. Mere hisab se b buying hi best h. Kyu k jitna hum rent dete h utne ki ya usse thodi upar ki emi deke agar ghar milta h to asset to create ho hi rha h. 1cr k ghar me rent pe rahne se better h 50lac k apne ghar me rehna. Bhale hi chhota hoga but apna to hoga. Old age me apke kaam aega. Or beech beech me paise jada ajaen to aap loan b jaldi khatam kar sakte ho.
If you are looking to learn on different topics of finance in depth then the ET Money TH-cam channel is a must. The explanation by Mr. Shankar Nath is unparalleled.
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial market.
@@maiadazz Personally, I can connect to that. When I began working with “Laurel Dell Sroufe” a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
I think buying a plot of land and then building home is best. My dad bought a plot in 2009 in 2015 we constructed home with 5 flats and rented 4 out of them and we live on grould floor and we earn enough rent that is sufficient enough for a standard lifestyle
Finally someone who said the exact same thing I've been saying in almost every "rent > buy" video comment section... Try putting a price on every day spent in peace and you'd realise the importance of buying a house over renting
To own a home is an aspiration,a life long dream......is baat par koi arguement nahi banta....It is not a topic of big discussion.Hope many will agree with me.
There are couple of oversights: 1. If you are a renter, the money you can invest is half that. The other half will go into rental payment. So the return after 20 years will be offset to that extent. 2. The property prices usually rises in a developing country like India. In many cases, it could be a windfall. 3. When you are in your own house, you are rooted. Eg, school, club, etc. You are able to commit to long term arrangements, which makes many a things cheaper. Eg: Your furniture has much more life, compared to shifting every other year. 4. Being rooted to a place helps develop one's own network, it's not easy for renters, who will never be seen as part of any society. This is important for kids who crave for belongingness to their place. 5. Certain tax saving investment schemes can only be leveraged if you have a housing loan. That is a major saving, lakhs. 6. Majority of home buyers nowadays are first home buyers, who have migrated to the city. They often dispose a property in their Village for down payment for a property in the city. It makes a lot of sense, as property prices grow way faster in City and its suburbs compared to villages. 7. When you buy a house, there is a small support the society gives. Eg, friends and relatives give interest free loans, gifts, sponsoring, house warming presents, everything adds up. In fact many use it as an opportunity to milk their parents and parents in law :( 8. Majority of people live in their own house, and as City grows, there is a possibility of building one more storey and renting it out, additional income! 9. For a lot people who have income as black money, and those who do not pay taxes, (which is sadly more than tax payers in India,) buying a house is probably the only practical option, both to make their money white and to generate a legal income. 10. Inflation is a big problem with cash reserves. Property price rise usually offsets inflation. 11. Many of our big ticket buys are to show that we have arrived, rather reached "heights." Cars, watch, whatever. Eg. Once you own a house, that's your identity and main show off, so one may not need an expensive vehicle on top of it, even if you could afford one. A luxurious house is any time a better investment than an expensive car, or gold, or gadgets. 12. Like you said, a forced investment on a house is a good option to save for youngsters who are undisciplined and has an inclination to splurge. 13. Gives emotional security, that your dwelling is taken care for life, even if you run out of all income and is in total distress
Totally agree. The financial advisors always show more advantages of renting but when you have kids it is better to stick to one place rather than moving around and changing school, friends, etc
Let me destroy you in a sec ....what if you are in a pvt job and rising unemployement ...and you have kids and ...heavy emi and then you have to go some other place for a job where you have to live on a rent... Main thing is ....stable income job or business other things follows
@@vishwas22kharethere is nothing you destroyed He is just showing other side of coin which is as much valid & gets unseen when we just see in terms of financial risk benefits. Everyone's situations are different and so will choices If and buts are unpredictable forever.
My father bought a piece of land and held it for around 10 years. On selling, I calculated the return which was around 17% compound annually. We live in a sub urban city.
You got my like just after first 1:30 min. There is nothing more worth than mental peace, Many people have a dream of owning their own house. Not everything should be put in terms of profit or loss.
Exactly not everything can be measured financially...The sense of security and achievement you get after buying a home cannot be compared with anything.
Mental peace is important but kai log etana loan krte hain ki mental peace wahi pe khatm ho jata hai ..so according to me khud ka ghar lo but 50% at least down payment krna chahiye baad me dikkat nhi hogi..
2 Points could have been added in favour of Buy decision,... 1. ROI is on reduced rate, means 7 % is actually 4.5 % as flat rate. 2. Tax benefit is available on Principal & Interest portion separately.
Having own house is the first most thing you need. Paying emi for unnecessary expenses is wrong. But for home is worth it. You may do any work to earn money but can't buy a home if you fall into some trouble
When you switched the sides you started contradicting the positives of First sides: 1. Rent will keep increasing too but this will be calculated and compared too 2. You wont be spending the money saved after rent because you decided to invest it 3. You wont be giving all your life because you invested huge money and with in 15 years you should be able to buy a house
How practical and relatable explanation. All financial experts suggest is to tell us why house on rent is the wisest decision without even understanding the real motivation of owning something. We love to own house and it's exactly about the mental peace. However, we should also be prudent about opportunity cost..
Best time to buy house was, when our Dadaaji were behind girl 70 yrs before & Oooos Jamaaney ke Chawl ke 2 ghar bhi aaaj 5 bunglow mai convert hua hai 😅😅😅
Go for House making,, Take loan, Make your own 2 storied House in minimal amount, give ground floor as rent and stay. Year by year rent will increase, and EMI is fixed, 1time will come, when after EMI You will have an amount in your hand.
Apki batao se sahmat hoon Fhir bhi 1 landlord ghar ka maintenance khud nahi karta , repair etc toh rent karne wale ko maintenance ka kuch part bearkarna padta he 2 1 crore ka ghar 20 saal bad 5 se 10 crore ka hoga , ho sakta he jyada ka ho toh agar kisi ne ghar khareeda he toh aage chalkar uska value bhi appreciate hoga
According to me.. If you do not have around (30% minimum)40% or more Try to delay your homebuying there is no problem.and( always keep at least 5% separate as emergency fund incase you lose your job)
U didn't tell that pressure of paying emi for home loans spoil the person mind, ability to take risk, bound to stay in a same city. If we rent we have the flexibility to switch city easily. There are lots of benefits for just stay in rented house instead of buying own
In my personal opinion buy a small house or shop as you are paying for down payment and avoid taking loans. As you grow then buy another house or shop and keep on doing based on your capacity. In short: ‘Jitni chadar hai utna pair felaao’
Me video ko pause krke pehle comment kr rhi hu aapko bhut hi bda thanks aap jaise log jinhone apne life ke experience se bhut kuch sikha aur ab ye valuable knowledge aap hmare sath share krte h ye bhut bdi baat h hm jaise log jo bharat ke chote se village me baithkr dekh rhe hote h hm jaise kuwe ke medhak ko aap jaise log bahar ki duniya dikhate ho in the sense of knowledge thank you so much God bless you
I possess two houses thanks to my parents. But my father died very early (I was 17) and I have to make, renovate and organise all these assests like an unpaid intern all by myself, sacrificing my career (not to the full potential) But can assure you its a tedious job to maintain houses and will never fetch you income rather takes most of you times doing taxes, rental arrengements, plumbing, repairs, maintanence, local nuances, people throwing gargabe, people coming out of nowhere etc. Never go for owning house at early stage focus on building your career. Houses won't run out but the time will.
Puri jindgi rent par raho ge par wo tumhara makaan nahi keh layega......or wo loan lekar apna khud ka ghar banana acha rahega bhale hi thode pese jyaada jayega par khud ka ghar to keh layega agar aage jake koi financial problem aati hai to wo ghar bech kar apni problem solve bhi kar sakte hai.
One Good thing about rent is You can move anywhere! ! To the city. To any indian village or Even USA. Having a minimalist lifestyle is great mind peace ✌️
Pranjal Bhai, I can exactly related what you said. My entire life with my parents was in Govt quarters or in rental accommodations. I always used to dream of a house of my own. When I started job, I made sure by 35 I have my own house and my children at least stay a good part of their life in this house (Till then go to school). So its not about money. It's a lot of emotion attached to it.
You have explained it very well, but there are few flaws in this, let me explain. You said if you are living in rented house then you could save lot of money which ultimately you can invest in mutual funds and sip etc. After 15-20 years, you will get lot of money from which you can easily buy house. Agreed. But what about my age? By then I would have loose interest in buying house and enjoying life because my age would be 50+ which means I lived 75% of my life. For a common man, real enjoyment of living life is upto 35-40 max.
I don't agree agree with you. There is a thin line break. First 1 Cr. Flat ..rent in Mumbai close to 35 K ( runwal forest). For 1 year rent is ok for 10 years in rent ..not ok ..every year 10% hike in rent , security Deposit never come in full , changing other flat huge shifting cost ..11 month agreement , 1 month brokerage every year , every renewal with 10% rent hike ...then no freedom in rent house ..every one corner you..as you are rented other owned flat ..
Few cities like Mumbai, Bangalore, Pune should be excluded. But the video stands true for most of the cities in India. I live in 65L 3bhk flat with a rent of 15k (10k rent + 5k society maintenance) Location: Faridabad, Delhi-NCR. PS: Also, unlike the above 3 states, here we don't have to pay security of 6 months or an entire year, one month security is fine😁
Sir another problem in rental house is after shifting another house you have to transfer your adhare card ration card voter pan card Bank account etc every year
Not required realy tbh.. I have been shifting almost every year since my childhood.. all my documents have different addresses on them and I have never faced any issue..
According to me.. It is better not to focus On materialistic things like buying a house.. That is not the smart move , we take that decision being emotional and social pressure.. Doesn't matter you have house or not, you have iphone or mi, you have car or cycle.. What all matter is inner peace and that comes with independency and with flexibility..Renting a house gives relief from EMI pressure.. Also gives flexibility if any uncertainty happens.. So for me renting is always a good option if you have lumsum money go invest in equity.. Grow your wealth and Networth
I have experienced both, My childhood days were very hard, as we lived in rented house and we had to shift every 3-4 years and it was very tiresome exercise from searching a suitable flat to shift in it. I lost my father in 2008 due to cancer and those days were very hard as we faced difficulties in paying rents. Then my mother arranged money on loans and other sources such as insurance claims to buy a piece of land and we shifted to our house in 2009 july. Now I lost my mother suddenly last year due to focus, Now imagine if I lived in rented house how to live all alone in other's house without any source of income. Now I am getting some money as rental income as I own my own house.So in my view every middle class family should have a home so that they can't be homeless in difficult phases of life🙂.
I hope future will be great because you have very bad time in your life and you experience the great lesson of life, mental health, finance etc. So best of luck for the upcoming events.
@@piparianaitik9230 That's true. But HRA is also usually less. You will mostly claim 15 - 25k per month, but in case of Loan it will easily cost you 40 - 50k per month if you're are buying a new flat in Tier 1 city. So extra 25k you are saving anyway in case of rent.
Well explained. There are some areas which can give 25% appreciation and some others can't able to give 8% appreciation. Basically it depends entirely on the area and the development of facility and connectivity it is going through.
I am Real Estate Consultant and also a Stock investor. i always suggest to my client that Kiraya and EMI hamesa paraya he bank balance apna. so try kare ki flat ho ya house hamesa cash pe le.
My dreams - government job , bike , house, car , my own shop, sip all the period, a happy family with my mom dad and healthy family 😍, Yes,it is tough but I will give my 100%
For salaried govt. Employees following are some benefits of buying home than staying in rented house: (I) They don't need to pay rent as they are getting quarter's rent from their employer. (II)Further some of the PSU like Banks are offering loans at concessional rate of interest to their employees than market rate. (III) Further you can get income tax benefit for loan principal payment upto Rs. 2,40,000/-. None the less your are creating one asset for yourself. So please give your suggestion or make video on this topic also.
When we are discussing about rent Vs Own a home.. please aslo consider for ownership.. Jab hum rent ko plan karte h to financial dekhte h, same ways jub hum kharidne ki baat karte h to financial ko investment ke hisab se nahi dekhna chahiye.. agar yeh hamara pahla ghar h to.. ha agar dusra kharidna h to bilkul aapke dwara banaya gaya plan sahi hoga.
Cost of EMI-Rent * 60 karo * 40(8 percent ka appreciation) : agar itna extra profit milega after 5 years, then buy a home. I bought a home and it's value increased by 10 percent in year. That So called SIP and MFs i bought, have not shown total XIRR of more than 6 percent yet. May be stock market can give you more returns but then you have to always be vigilant about the ups and downs and changes and selection of right thing. Whereas property worth can be easily identified.
I am 29 years old and u made me realize that I m doing the right thing that I am purchasing a new house. Thanks for this video. All the love and support. Keep Growing.
I listen to you like you are my big brother.♥️ There are hardly very few persons who provides so valuable content without any intention of marketing for only personal gains.
I think you are confusing current emi with future rent. Emi for House you buy now will be same for next 20yr. But rent will increase at least 5% annually, 8% in bangalore. So, rent will eventually cross emi. And noone will think i can buy with same emi in the house. Because by the time property prices will increase and so does the emi. Simple rule which i check is below. 1. Location and comfort 2. Give = Rent + 6%Deposite/12 3. Get = Emi + 6%MyMoney/12 + society cost 4. Confirm if Get < 2xGive
Ur explanation of maintenance is kinda incorrect. In apartments the maintenance cost depends on ur property area and that is separate than the additional house maintenance for interiors, equipment etc. Also, in tier 2 & 3, cities the rent are quite close to the EMIs. Definitely ur point is right for Tier 1 where rent is lower than EMI.
Arey he was not talking about the society maintenance which depends on our property area, that's different. The maintenance he is considering includes repair work like repairing broken roof, painting walls, changing electrical, wooden and plumbing appliances etc.
@@rohitsoni9325 yes I know that. It is important to note that maintenance dues is an important factor which should be considered. Depending on location it does become 1% or more. That is IN ADDITION to the repair work you do inside your house which is at times depends on ur choices & situation. hence the comment.
This video starts from setting the tone that one must by a home. But at the end of it - I'm convinced that my decision of not going for home loan at this point is 100% correct.
Rental house Demerit- * Landbord Ke taane * Low value in society * Always Defend ourself from house owners * Monthly payment of money * It's liability of life Owners benefits * Assets * live free who ever you wan * Self value * many more
I have two houses in Thane. But always wanted to have a house in proper Bombay - considering my parents moved from there in the 1970s. So since then, they have felt they moved away from Bombay. I managed to get a 2-bedder at Dadar which is around 3cr with a home loan. And like you said, it’s an emotional buy, it actually makes them happy to think that they will once again have a house in the neighbourhood where they grew up. I hope I haven’t made an atrocious monetary decision. But maybe to see my parents happy is a bigger reward than anything else. Also, hoping the construction happens soon. Possession is about five years away. Fingers crossed :)
There are something in every single video contents in this channel, which make us stay tuned. This channel is very helpful for every single person (beginners/experts). Thanks, you help lots of people by this channel, just like a big brother.🤝
Simple rule of thumb: If you can payoff the loan amount within 15 years with monthly EMI less than the 1/4th of your monthly take home salary: Then go buy the home Else: Wait until you reach that financial situation.
Couldn't resonate more to the "kaash khud ka ghar hota" dialogue from parents. But I think, the EMI factor and maintenance depends a lot on the locality and cities. Places like Bangalore have equally high Rents (2 BHKs going for 40k as well) and equally high EMI and Houses go for crores (even some 2 bhks). It becomes a tough decision when cities grow beyond inflation but the salaries don't. It feels like a better decision to save money, buy plots in remote locations till they appreciate and areas develop and then invest in building own house there. But this also comes with a cost of paying simultaneous rents and also save and also pay 100 other bills to live. Arey kare toh kya kare yaar xD
Ek thik thak price range 45-50 lacs ke bich me lo aur home loan emi ko acche se utilize karo, this way its better to buy a home atleast your first home
Yar this is the most common problem of all the middle.class salaried people also one factor is in cities like bangalore u have to change ur job location frequently and thus having a fixed addresa might cost u more and its stressfull too so i .feel its better to invest in mutual funds , stocks etc create wealth and then get settled in a tier 2-3 city where cost of real estate and cost of living is cheap
Please note. Many people mention that in case of home loan, we can reduce the tenure by paying one extra EMI every year. But nobody ever explained how to do that. I mean ...do we simply need to pay one extra EMI each year or we need to confirm something from the bank before making the payment. I think many people have very little knowledge about this concept and how to do this. I request you to kindly make a detailed video on the subject because you are the only one I can trust and you explain everything very simply. Thanks for spreading awareness.
You don't have to tell your bank anything, just send the money to loan account and you're good to go. Search B wealthy's video on home loan and you'll get good information on how to do it and how much you can save.
My recommendation is, once u have collected amount that is equivalent to 1 or more EMIs, goto ur bank. Talk to the representative about 1. Reducing the interest rate. 2. Give them check for the collected amount BUT always aim to reduce ur tenure. The bank rep will try to convince u to reduce EMI amount, never do that. Always reduce your tenure because the amount you are contributing should help reduce ur principal rather than ur interest component. 3. Save/ earn aggressively and try to repay the loan within 5 years instead of 20/25 yrs. this way the interest you are paying to the bank will be much lower. If you need motivation for this, just look at ur amortisation/repayment schedule. U end up paying almost double the loan amount in 20yrs, which is huge. 4. Some banks also give u 0.10% reduction in interest rate if you pay via same bank account. Check that too. Hope this helps.
Rent par rehne wala Banda Hmaesha Bura feel krta he Payment late ho jaaye sirf kooch din to landloard aakar khad aho jaata he oosse appki khushi dekhi nhi jati Khulkar nhi reh sakte adjust krna padta He sbahi cheezo ko Baccho ko bhaot Kooch jhelna padta He bachpnn se So me yhi kahunga apna ghar kharide Zaroor khardie Beshak emi par le but emi dete hu a bhi khushi Hogi rent dete hu. A kabhi khushi nhi hota chahe kam rent kyu na Ho
In this video sir, you are suggesting to buy a house with maximum equity and minimum debt. But I was listening to Robert Kiyosaki where he is suggesting to buy homes with 100% debt (For rental income) to become rich. Just getting confused. Would appreciate your reply to this.
Robert Kiosaki is American. In America interest rates are extremely low. Rent yeilds are very high as compared to India. Hence, Robert Kiosaki's suggestion is correct as per American situation. In India, less debt is better.
In US, rental yield is between 4 to 8% whereas mortgage (debt) rate is at 3%. Here in India, rental yield is at max 3% (except for a few over-inflated cities like mumbai, banglore) and home loans are at 6 to 8 %.
Agar ghar kharidna hai toh apke pas paisa kam se kam 70% hona chahiye aur apko ghar ki bajaye ek land leni chahiye kyunki land ki kimat hamesha badhti hai fir baad main savings karo aur 1 ya 2 kamre bana lena chahiye aur dheere dheere savings karke uspe lagana chahiye isse ap rent pe rehke apne ghar ka dream dekh sakte ho...
Not every utuber earns same money. Some earns way more than someone else at same view count. Think before u start utube. Generally brands pay more when ur content provide serious information and education on a topic. Thank you for this video make more and lets all Indian become educated. ❤️
There has always been a confusion i had, though i have moved from a small city to a metro city recently, and my whole life i have been in a owned house, so this renting concept is a bit harse on my habits of living. But the confusion is whether to buy an apartment(flat) or a house with the land, as far as i know apartments after certain years can be a depriciating house. Please expain on this. And a house with a land has its own advantages.
One Big misconception that Fixed interest loan rates will have Fixed EMI for life. Thats wrong. There is NOTHING called Fixed EMI. Even Fixed interest rates are subject to change and at the sweet will of the Bank but yes the change wont be as frequent as a Floating rate. EMIs are never fixed for a longer tenure loan like Home Loan. Not many people know this.
Humare yaha rent pe sirf 11 month hi rehne dete hai, bad me firse dusra makan dudhna padta hai or sara saman ghumana padta hai or apna kam bhi disturb hota he, isme hum thak jate hai isliye emi par humne ghar liya..
Kahan rehte ho bhai? 11 months ke baad 10% rent increase hota generally. Wo bhi agr time se rent de rahe ho or ghar thik se rakh rahe to owner maan jaate or kam rent badhaate... I'm living on rent in Delhi NCR for last 8 years, hardly changed house 2-3 times
I think you were finding it hard to justify why one should buy a flat! Post retirement thing which you mentioned can be overcome if one is disciplined enough and invests in mutual funds and buys a flat later with all the amount one has without having to borrow! Also buying a flat in tier 2 cities, post retirement shall be cost effective and health effective as well.
Jamin kharid kar ghar banao. Bhada se bhi Paisa kamao, dukaan bhi lagao, Ghar & jamin ka bhi rate badhte jayega. Apne ghar me Raja ho. Rental wala me pressure bana rahta hai.
Thanks a lot for making a video on this topic. As you said buying an house is an asset but according to many financial experts buying a house and then staying in that house doesn't considered to be an asset as in case tomorrow if you need to have certain amount or cash you won't be able to sell it immediately and even if you manage to sell then where would the person living in that house go to? Thanks for posting such great video, It helps a lot🙏
As Usual Good Video Sir, but you failed to cover the Highest Tax Exemption that a Salaried person can avail on a Home Loan (2 of them can avail if Co-owned) and also the pros & cons of PreClosure of Loans
Its not that much. You only get exemption on interest portion of Home Loan. That too this is only for ready to move home, or year from when you get possession of home. Also there is HRA Tax exemption when staying in rented, and which is usually more than the exemption you get in EMI interest.
Didn't consider the fact if you fall in 30 % income tax bracket and you can save tax upto 60k per year on interest payments of 2 lac plus 80c in principal payment.
@@whatsappstudio9568 considering tax benefits of HRA with home laon interest alone is apple to apple comparison. Because the interest component is EMI is just like giving rent to bank. But the principle component is what makes you own the home down the lane. And tax deduction for principle is any way with in 80C limits. In most of the cases that limit is filled by PF and other insurance payments which are mandatory. So while taking buy vs rent decision it's okay to consider all other factors and ignore tax benifits on both cases.
I prefer buy a house over renting a house because... Rented house me deal-breaker problems boht hoti hain.... 1. You can't customise it. Examples: AC fitting, inverter fitting, gardening, solar system installation etc. Ke liye landlord ki permission par depend karna padta hai. 2. Restrictions: No pets, No nonveg, No loud music, No commercial activities, No posters or screws on walls etc. 3. Marriage ya death ke time par landlord aapko sabkuch dusri jagah shift karne ke liye force karte hain. You can't rely on a rented house in such a situation. 4. Cost of shifting: suppose you pay 10000 rent for a house. Now someone offers you similar property for 9500. Will you shift? No, because shifting and relocating is an headache for most of us. 5. Everything is fine... Suddenly you get a call from your landlord... Next month Tak Ghar Khali kar do, mujhe renovation ya koi Shaadi karwani hai ghar me... You are forced to rearrange everything on someone else's wish. Most people cannot compromise with above problems by saving some EMI or maintenance costs.
One more point. Many people buy second flat, third flat as investment. But your flat will be in dilapidated conditions after 30 years but if you hold equity fund for next 30 years- you have good corpus for your Retirement.
I am living in Mumbai and paying rent 15500/month, here flat price (1bhk) is around 50 lakhs and I will shift to Ahmedabad after 2-3 months, the house to be purchased is around 20-25 lakhs(1bhk) and probably emi will be 20 thousands per month. Can you please suggest to purchase or not? After watching this video, I think I have to purchase that flat. Thanks
Hmm.. there is a catch in your analogy.. Rent has doubled in last 10 years. I'm not talking about any hypothetical situation as you, I'm just telling you the history. You know why rent gonna always increase. Because inflation.. Bhai tumhare logic mein multiple issues hain.. for example jab landlord 50000 karega to log usi ghar ko 75000 emi mein nhi kharid payenge kyunki tab tak real estate ka cost bhi badh chuka hoga. Lastly, land/home ka cost kitna badhega ye location pe v depend karta hai, kuchha location pe real estate easily equity ko beat karte hain..
When all other TH-camrs made it difficult using math, here it is pranjal who made me make a decision just with talk without realising when 18 min passed ❤️
To keep up with rising cost we are beginning to see the equity of our home for what it truly is, Its becoming hard for us seniors not to ask the obvious question: Should we cash in, invest the money, and rent?
Have you thought about keeping up with the whims of a Landlord? I am invested fully in the markets under a custodian who is a fiduciary to me and my beneficiaries. You shouldn't sell your home with a good plan. might only work if you are looking at investing under 5yrs
Sincerely it's best to seek a fiduciary right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
@saidmuhajadeen can you refer me please?
First time kisi video me house buying k benefits ko bataya gaya h. Mere hisab se b buying hi best h. Kyu k jitna hum rent dete h utne ki ya usse thodi upar ki emi deke agar ghar milta h to asset to create ho hi rha h. 1cr k ghar me rent pe rahne se better h 50lac k apne ghar me rehna. Bhale hi chhota hoga but apna to hoga. Old age me apke kaam aega. Or beech beech me paise jada ajaen to aap loan b jaldi khatam kar sakte ho.
In finance, here's one and only person, whom i can blindly trust ...
Thanks you sir very very much. 🤑🤑🤑
Watch Ankur Warikoo
Also Mandeep and Rishabh from Labour law advisor
@@prafulpoduval6245 thanks guys any other suggestions?
If you are looking to learn on different topics of finance in depth then the ET Money TH-cam channel is a must. The explanation by Mr. Shankar Nath is unparalleled.
Asset Yogi is one of 💎
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial market.
@@maiadazz Personally, I can connect to that. When I began working with “Laurel Dell Sroufe” a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
@@darnellcapriccioso I'd be glad to get the help of one, but just how can one spot a reputable one? How did you spot this Laurel ?
@@richardhudson1243 Laurel Dell Sroufe maintains an online presence that can be easily found through a simple search of her name on the internet.
@@darnellcapriccioso Thanks for the lead. I saw her website and I sent her a mail.
I think buying a plot of land and then building home is best.
My dad bought a plot in 2009 in 2015 we constructed home with 5 flats and rented 4 out of them and we live on grould floor and we earn enough rent that is sufficient enough for a standard lifestyle
Underated comment
exactly
True bro they are also cheaper than flat...
Awesome only thing is bank dont give loan for plot... U should have it on ur own
Finally someone who said the exact same thing I've been saying in almost every "rent > buy" video comment section... Try putting a price on every day spent in peace and you'd realise the importance of buying a house over renting
To own a home is an aspiration,a life long dream......is baat par koi arguement nahi banta....It is not a topic of big discussion.Hope many will agree with me.
There are couple of oversights:
1. If you are a renter, the money you can invest is half that. The other half will go into rental payment. So the return after 20 years will be offset to that extent.
2. The property prices usually rises in a developing country like India. In many cases, it could be a windfall.
3. When you are in your own house, you are rooted. Eg, school, club, etc. You are able to commit to long term arrangements, which makes many a things cheaper. Eg: Your furniture has much more life, compared to shifting every other year.
4. Being rooted to a place helps develop one's own network, it's not easy for renters, who will never be seen as part of any society. This is important for kids who crave for belongingness to their place.
5. Certain tax saving investment schemes can only be leveraged if you have a housing loan. That is a major saving, lakhs.
6. Majority of home buyers nowadays are first home buyers, who have migrated to the city. They often dispose a property in their Village for down payment for a property in the city. It makes a lot of sense, as property prices grow way faster in City and its suburbs compared to villages.
7. When you buy a house, there is a small support the society gives. Eg, friends and relatives give interest free loans, gifts, sponsoring, house warming presents, everything adds up. In fact many use it as an opportunity to milk their parents and parents in law :(
8. Majority of people live in their own house, and as City grows, there is a possibility of building one more storey and renting it out, additional income!
9. For a lot people who have income as black money, and those who do not pay taxes, (which is sadly more than tax payers in India,) buying a house is probably the only practical option, both to make their money white and to generate a legal income.
10. Inflation is a big problem with cash reserves. Property price rise usually offsets inflation.
11. Many of our big ticket buys are to show that we have arrived, rather reached "heights." Cars, watch, whatever. Eg. Once you own a house, that's your identity and main show off, so one may not need an expensive vehicle on top of it, even if you could afford one. A luxurious house is any time a better investment than an expensive car, or gold, or gadgets.
12. Like you said, a forced investment on a house is a good option to save for youngsters who are undisciplined and has an inclination to splurge.
13. Gives emotional security, that your dwelling is taken care for life, even if you run out of all income and is in total distress
Lol
Totally agree. The financial advisors always show more advantages of renting but when you have kids it is better to stick to one place rather than moving around and changing school, friends, etc
True buying a house is more sensible design.
Let me destroy you in a sec ....what if you are in a pvt job and rising unemployement ...and you have kids and ...heavy emi and then you have to go some other place for a job where you have to live on a rent...
Main thing is ....stable income job or business other things follows
@@vishwas22kharethere is nothing you destroyed
He is just showing other side of coin which is as much valid & gets unseen when we just see in terms of financial risk benefits.
Everyone's situations are different and so will choices
If and buts are unpredictable forever.
For rented house, we also get maintenance costs, eg: taps,pipes, electric components,etc
Wo to tere apne ghr m bhi hoga
My father bought a piece of land and held it for around 10 years. On selling, I calculated the return which was around 17% compound annually.
We live in a sub urban city.
Yes tier 2 cities it was possible back then...Now mostly the modern youth will buy apartments which will grow @ 3 precent only
@@aishme3149 voto har jagah jodna padega na. For comparison we need only annualised returns to compare with equity.
Sub urban is BEST
You got my like just after first 1:30 min. There is nothing more worth than mental peace, Many people have a dream of owning their own house. Not everything should be put in terms of profit or loss.
Exactly not everything can be measured financially...The sense of security and achievement you get after buying a home cannot be compared with anything.
Mental peace is important but kai log etana loan krte hain ki mental peace wahi pe khatm ho jata hai ..so according to me khud ka ghar lo but 50% at least down payment krna chahiye baad me dikkat nhi hogi..
@@manalipatil8083 that is true, if one can’t clear their loan within 7-10 years max, then better stay away from buying the house.
Where is the mental peace when you have to pay EMIs every month
I dont understand what do you mean by peace of mind. Committing to an EMI during a recession or your money being invested in the index at a discount.
2 Points could have been added in favour of Buy decision,...
1. ROI is on reduced rate, means 7 % is actually 4.5 % as flat rate.
2. Tax benefit is available on Principal & Interest portion separately.
Having own house is the first most thing you need. Paying emi for unnecessary expenses is wrong. But for home is worth it. You may do any work to earn money but can't buy a home if you fall into some trouble
When you switched the sides you started contradicting the positives of First sides:
1. Rent will keep increasing too but this will be calculated and compared too
2. You wont be spending the money saved after rent because you decided to invest it
3. You wont be giving all your life because you invested huge money and with in 15 years you should be able to buy a house
How practical and relatable explanation. All financial experts suggest is to tell us why house on rent is the wisest decision without even understanding the real motivation of owning something. We love to own house and it's exactly about the mental peace. However, we should also be prudent about opportunity cost..
The best time to buy a house is always five years ago😅
😂
Best time to buy house was, when our Dadaaji were behind girl 70 yrs before & Oooos Jamaaney ke Chawl ke 2 ghar bhi aaaj 5 bunglow mai convert hua hai
😅😅😅
😂
Apto investment ka Bandh Kaamra ho🤣🤣🤣
Exactly....👌
A very important point you said sir: If you are not financially disciplined it's better to hook to EMI (at least you create an asset)
EMIs also get increased, whenever banks increase interest rate. Timestamp: 11:50
Go for House making,,
Take loan, Make your own 2 storied House in minimal amount, give ground floor as rent and stay. Year by year rent will increase, and EMI is fixed, 1time will come, when after EMI You will have an amount in your hand.
Apki batao se sahmat hoon
Fhir bhi
1 landlord ghar ka maintenance khud nahi karta , repair etc toh rent karne wale ko maintenance ka kuch part bearkarna padta he
2 1 crore ka ghar 20 saal bad 5 se 10 crore ka hoga , ho sakta he jyada ka ho toh agar kisi ne ghar khareeda he toh aage chalkar uska value bhi appreciate hoga
1st case:EMI of today will be Same after 20 year but rent will be very high on that date as compared to today
Nope home loan emi is calculated on floating interest. If in future interests changes your interest payment to the bank increases.
Yes. And also home will be yours by that time.
प्रांजळ तु तर खूप मस्त आणि फायदेशीर गोष्टी सांगत आहेस,
According to me..
If you do not have around (30% minimum)40% or more
Try to delay your homebuying there is no problem.and( always keep at least 5% separate as emergency fund incase you lose your job)
U didn't tell that pressure of paying emi for home loans spoil the person mind, ability to take risk, bound to stay in a same city. If we rent we have the flexibility to switch city easily. There are lots of benefits for just stay in rented house instead of buying own
In my personal opinion buy a small house or shop as you are paying for down payment and avoid taking loans.
As you grow then buy another house or shop and keep on doing based on your capacity.
In short:
‘Jitni chadar hai utna pair felaao’
Me video ko pause krke pehle comment kr rhi hu aapko bhut hi bda thanks aap jaise log jinhone apne life ke experience se bhut kuch sikha aur ab ye valuable knowledge aap hmare sath share krte h ye bhut bdi baat h hm jaise log jo bharat ke chote se village me baithkr dekh rhe hote h hm jaise kuwe ke medhak ko aap jaise log bahar ki duniya dikhate ho in the sense of knowledge thank you so much God bless you
Thankyou !!
moto for 2022 , AAJ kuch tufani karte hein....Rent vsTent ... 🤘🤘
🤣🤣🤣🤣
🤣
Very nice slogan 😂😂
🤣
😁😄😄😄😂😂
बहुत बहुत धन्यवाद। में दुविधा में था आपके vdo ने निर्णय लेने में बहुत मदद की।
I possess two houses thanks to my parents. But my father died very early (I was 17) and I have to make, renovate and organise all these assests like an unpaid intern all by myself, sacrificing my career (not to the full potential) But can assure you its a tedious job to maintain houses and will never fetch you income rather takes most of you times doing taxes, rental arrengements, plumbing, repairs, maintanence, local nuances, people throwing gargabe, people coming out of nowhere etc. Never go for owning house at early stage focus on building your career. Houses won't run out but the time will.
One more benefit of home loan is that you can save tax. The interest you pay gets compensated by the tax you save for that 15-20 years
Slice doesn't improve your CIBIL score on the contrary decreases it. Sharing from personal experience as the credit they offer are offered as loans.
Puri jindgi rent par raho ge par wo tumhara makaan nahi keh layega......or wo loan lekar apna khud ka ghar banana acha rahega bhale hi thode pese jyaada jayega par khud ka ghar to keh layega agar aage jake koi financial problem aati hai to wo ghar bech kar apni problem solve bhi kar sakte hai.
One Good thing about rent is You can move anywhere! !
To the city. To any indian village or Even USA.
Having a minimalist lifestyle is great mind peace ✌️
Pranjal Bhai, I can exactly related what you said. My entire life with my parents was in Govt quarters or in rental accommodations. I always used to dream of a house of my own. When I started job, I made sure by 35 I have my own house and my children at least stay a good part of their life in this house (Till then go to school). So its not about money. It's a lot of emotion attached to it.
Same here bro...
Main problem is shifting rented house in every 1-2 tears😥😥
That why I want my house
One of the major cost is stamp duty which is around 6-8 %
You have explained it very well, but there are few flaws in this, let me explain.
You said if you are living in rented house then you could save lot of money which ultimately you can invest in mutual funds and sip etc. After 15-20 years, you will get lot of money from which you can easily buy house. Agreed.
But what about my age? By then I would have loose interest in buying house and enjoying life because my age would be 50+ which means I lived 75% of my life. For a common man, real enjoyment of living life is upto 35-40 max.
i strongly agree with you
I don't agree agree with you. There is a thin line break. First 1 Cr. Flat ..rent in Mumbai close to 35 K ( runwal forest). For 1 year rent is ok for 10 years in rent ..not ok ..every year 10% hike in rent , security Deposit never come in full , changing other flat huge shifting cost ..11 month agreement , 1 month brokerage every year , every renewal with 10% rent hike ...then no freedom in rent house ..every one corner you..as you are rented other owned flat ..
but can you buy that 1 crore flat in same city same area where rent is this much high
Correct. Plus we are human beings and we have lots of emotions. खुद का घर होने के अलग सुख है
Few cities like Mumbai, Bangalore, Pune should be excluded. But the video stands true for most of the cities in India. I live in 65L 3bhk flat with a rent of 15k (10k rent + 5k society maintenance) Location: Faridabad, Delhi-NCR.
PS: Also, unlike the above 3 states, here we don't have to pay security of 6 months or an entire year, one month security is fine😁
@@shouryaprakash7767 yes , some 10 KM away from current location, I have scooter, and low price ( due to corona)
Mumbai is a special exception.. Worst for real estate
Sir another problem in rental house is after shifting another house you have to transfer your adhare card ration card voter pan card Bank account etc every year
Not required realy tbh.. I have been shifting almost every year since my childhood.. all my documents have different addresses on them and I have never faced any issue..
According to me.. It is better not to focus
On materialistic things like buying a house.. That is not the smart move , we take that decision being emotional and social pressure..
Doesn't matter you have house or not, you have iphone or mi, you have car or cycle.. What all matter is inner peace and that comes with independency and with flexibility..Renting a house gives relief from EMI pressure.. Also gives flexibility if any uncertainty happens..
So for me renting is always a good option if you have lumsum money go invest in equity.. Grow your wealth and Networth
Thanks Pranjal Sir, You explained both sides so Simply! Before this I thought not to take Home but now I am clear that I will buy home
भाई सिर्फ आपका ही वीडियो मैं बिना स्किप किए देखता हूं 🤗
I have experienced both, My childhood days were very hard, as we lived in rented house and we had to shift every 3-4 years and it was very tiresome exercise from searching a suitable flat to shift in it. I lost my father in 2008 due to cancer and those days were very hard as we faced difficulties in paying rents. Then my mother arranged money on loans and other sources such as insurance claims to buy a piece of land and we shifted to our house in 2009 july. Now I lost my mother suddenly last year due to focus, Now imagine if I lived in rented house how to live all alone in other's house without any source of income. Now I am getting some money as rental income as I own my own house.So in my view every middle class family should have a home so that they can't be homeless in difficult phases of life🙂.
Correction My mother died of covid-19
So true
I hope future will be great because you have very bad time in your life and you experience the great lesson of life, mental health, finance etc.
So best of luck for the upcoming events.
@@rahulrawatlive Thank you brother, Appreciate your concern. Best of luck for your future too.
Sorry for your loss. I hope you get strength to cope up
you forgot to mention about tax benefits of a home loan......that is also a big factor
And MF or other equity return we have to pay tax after earning some benchmark amount
@@piparianaitik9230 that you can avoid easily by tax harvesting.
House rent also has tax benefits in the form of HRA.
@@rohanbhattacharya8613 HRA is limited, you can't compare home loan vs HRA.
@@piparianaitik9230 That's true. But HRA is also usually less. You will mostly claim 15 - 25k per month, but in case of Loan it will easily cost you 40 - 50k per month if you're are buying a new flat in Tier 1 city. So extra 25k you are saving anyway in case of rent.
Well explained. There are some areas which can give 25% appreciation and some others can't able to give 8% appreciation. Basically it depends entirely on the area and the development of facility and connectivity it is going through.
I am Real Estate Consultant and also a Stock investor. i always suggest to my client that Kiraya and EMI hamesa paraya he bank balance apna. so try kare ki flat ho ya house hamesa cash pe le.
My dreams :-- First education , a job , house , bike , car ,. And all the period sip mode investment in stocks :)
My dreams - government job , bike , house, car , my own shop, sip all the period, a happy family with my mom dad and healthy family 😍,
Yes,it is tough but I will give my 100%
Ghar kharidane ke bad ...sab bhul jayega
itna karne mein poori naukari lag jayegi
Me too
Wife is not in your list 😂
For salaried govt. Employees following are some benefits of buying home than staying in rented house:
(I) They don't need to pay rent as they are getting quarter's rent from their employer.
(II)Further some of the PSU like Banks are offering loans at concessional rate of interest to their employees than market rate.
(III) Further you can get income tax benefit for loan principal payment upto Rs. 2,40,000/-.
None the less your are creating one asset for yourself.
So please give your suggestion or make video on this topic also.
Best way:
Till 35 rent and invest in Equity
Then by own house
Good suggestion .
When we are discussing about rent Vs Own a home.. please aslo consider for ownership..
Jab hum rent ko plan karte h to financial dekhte h, same ways jub hum kharidne ki baat karte h to financial ko investment ke hisab se nahi dekhna chahiye.. agar yeh hamara pahla ghar h to.. ha agar dusra kharidna h to bilkul aapke dwara banaya gaya plan sahi hoga.
U r really a good human being dear. U always give the practical information to people. Great work done.
Cost of EMI-Rent * 60 karo * 40(8 percent ka appreciation) : agar itna extra profit milega after 5 years, then buy a home. I bought a home and it's value increased by 10 percent in year. That So called SIP and MFs i bought, have not shown total XIRR of more than 6 percent yet. May be stock market can give you more returns but then you have to always be vigilant about the ups and downs and changes and selection of right thing. Whereas property worth can be easily identified.
I am 29 years old and u made me realize that I m doing the right thing that I am purchasing a new house. Thanks for this video. All the love and support. Keep Growing.
I can't understand what he is saying pls explain in short
@@Vj-gy6wu If u have 60-70% down payment go for purchase or rent the house
Pay all loans on time
Also live below your means.
Everyone needs one pranjal bhaiya in there life ! U just made it so easy to understand.which was never taught in our bschools even after paying lakhs
I listen to you like you are my big brother.♥️
There are hardly very few persons who provides so valuable content without any intention of marketing for only personal gains.
I think you are confusing current emi with future rent. Emi for House you buy now will be same for next 20yr. But rent will increase at least 5% annually, 8% in bangalore. So, rent will eventually cross emi.
And noone will think i can buy with same emi in the house. Because by the time property prices will increase and so does the emi.
Simple rule which i check is below.
1. Location and comfort
2. Give = Rent + 6%Deposite/12
3. Get = Emi + 6%MyMoney/12 + society cost
4. Confirm if Get < 2xGive
This will be a subtle hit to Ankur Warikoo sir, and I hope to see both of these legends on one screen sometime soon.
Oh no nothing like that. Why did u think so ?
I also thought the same, It was just because of that excel sheet you mentioned 😅
Same man, same topic and one year later. A totally different view! Something to think about.
Ur explanation of maintenance is kinda incorrect. In apartments the maintenance cost depends on ur property area and that is separate than the additional house maintenance for interiors, equipment etc.
Also, in tier 2 & 3, cities the rent are quite close to the EMIs. Definitely ur point is right for Tier 1 where rent is lower than EMI.
Arey he was not talking about the society maintenance which depends on our property area, that's different. The maintenance he is considering includes repair work like repairing broken roof, painting walls, changing electrical, wooden and plumbing appliances etc.
@@rohitsoni9325 yes I know that. It is important to note that maintenance dues is an important factor which should be considered. Depending on location it does become 1% or more. That is IN ADDITION to the repair work you do inside your house which is at times depends on ur choices & situation. hence the comment.
This video starts from setting the tone that one must by a home. But at the end of it - I'm convinced that my decision of not going for home loan at this point is 100% correct.
You are a great teacher. I have learned a tons from you
Rental house Demerit-
* Landbord Ke taane
* Low value in society
* Always Defend ourself from house owners
* Monthly payment of money
* It's liability of life
Owners benefits
* Assets
* live free who ever you wan
* Self value
* many more
I have two houses in Thane. But always wanted to have a house in proper Bombay - considering my parents moved from there in the 1970s. So since then, they have felt they moved away from Bombay. I managed to get a 2-bedder at Dadar which is around 3cr with a home loan. And like you said, it’s an emotional buy, it actually makes them happy to think that they will once again have a house in the neighbourhood where they grew up. I hope I haven’t made an atrocious monetary decision. But maybe to see my parents happy is a bigger reward than anything else. Also, hoping the construction happens soon. Possession is about five years away. Fingers crossed :)
All The Best Buddy....
5 yrs for possession
And 3cr for 2bhk apartment
Damn
Sir mai ak force member hu I always saw yr vedio apne bahut kuch sikhaya hi thanks
There are something in every single video contents in this channel, which make us stay tuned. This channel is very helpful for every single person (beginners/experts). Thanks, you help lots of people by this channel, just like a big brother.🤝
Simple rule of thumb:
If you can payoff the loan amount within 15 years with monthly EMI less than the 1/4th of your monthly take home salary:
Then go buy the home
Else:
Wait until you reach that financial situation.
Then its very difficult to buy home.
@@akshaybaser5494 indeed and that’s why owning a home often becomes a curse instead of a blessing for homeowners.
In rental/purchased house comparison nobody includes the cost to move in rental houses every 12-24 months
exactly
I was thinking House or Rent, Tent pe focus karte hai. Khudka bhi hoga and Sasta bhi hoga
Couldn't resonate more to the "kaash khud ka ghar hota" dialogue from parents. But I think, the EMI factor and maintenance depends a lot on the locality and cities. Places like Bangalore have equally high Rents (2 BHKs going for 40k as well) and equally high EMI and Houses go for crores (even some 2 bhks). It becomes a tough decision when cities grow beyond inflation but the salaries don't. It feels like a better decision to save money, buy plots in remote locations till they appreciate and areas develop and then invest in building own house there. But this also comes with a cost of paying simultaneous rents and also save and also pay 100 other bills to live. Arey kare toh kya kare yaar xD
hum toh jaha pe rent pe rahete hai waha kuch tut gaya kharab ho gaya toh mere paisa se hi thik karana padhta hai .
@@manashdatta6487 true the owner rarely bares any maintenance of rented flat or house
In mumbai one Room kitchen costs 25k per month for just 225 sqft house
Ek thik thak price range 45-50 lacs ke bich me lo aur home loan emi ko acche se utilize karo, this way its better to buy a home atleast your first home
Yar this is the most common problem of all the middle.class salaried people also one factor is in cities like bangalore u have to change ur job location frequently and thus having a fixed addresa might cost u more and its stressfull too so i .feel its better to invest in mutual funds , stocks etc create wealth and then get settled in a tier 2-3 city where cost of real estate and cost of living is cheap
I don't live in a big city, but I am fortunate enough to have my own house.
Ask the value of your own house to someone who doesn't have one
Please note. Many people mention that in case of home loan, we can reduce the tenure by paying one extra EMI every year. But nobody ever explained how to do that. I mean ...do we simply need to pay one extra EMI each year or we need to confirm something from the bank before making the payment.
I think many people have very little knowledge about this concept and how to do this.
I request you to kindly make a detailed video on the subject because you are the only one I can trust and you explain everything very simply.
Thanks for spreading awareness.
U have to tell ur bank to adjust this amount in principal amt nd keep emi same bt reduce tenure
While paying extra emi ask your bank officials to reduce tanure from this amounts
You don't have to tell your bank anything, just send the money to loan account and you're good to go. Search B wealthy's video on home loan and you'll get good information on how to do it and how much you can save.
My recommendation is, once u have collected amount that is equivalent to 1 or more EMIs, goto ur bank. Talk to the representative about
1. Reducing the interest rate.
2. Give them check for the collected amount BUT always aim to reduce ur tenure.
The bank rep will try to convince u to reduce EMI amount, never do that.
Always reduce your tenure because the amount you are contributing should help reduce ur principal rather than ur interest component.
3. Save/ earn aggressively and try to repay the loan within 5 years instead of 20/25 yrs. this way the interest you are paying to the bank will be much lower.
If you need motivation for this, just look at ur amortisation/repayment schedule. U end up paying almost double the loan amount in 20yrs, which is huge.
4. Some banks also give u 0.10% reduction in interest rate if you pay via same bank account. Check that too.
Hope this helps.
@@RohiniGaonkar thank you so much for the detailed guidance.
Rent par rehne wala Banda Hmaesha Bura feel krta he Payment late ho jaaye sirf kooch din to landloard aakar khad aho jaata he oosse appki khushi dekhi nhi jati Khulkar nhi reh sakte adjust krna padta He sbahi cheezo ko Baccho ko bhaot Kooch jhelna padta He bachpnn se So me yhi kahunga apna ghar kharide Zaroor khardie Beshak emi par le but emi dete hu a bhi khushi Hogi rent dete hu. A kabhi khushi nhi hota chahe kam rent kyu na Ho
Thanks the lord sir may god bless you forever in your life these videos is so use full for younger boys'
In this video sir, you are suggesting to buy a house with maximum equity and minimum debt. But I was listening to Robert Kiyosaki where he is suggesting to buy homes with 100% debt (For rental income) to become rich. Just getting confused. Would appreciate your reply to this.
Robert Kiosaki is American. In America interest rates are extremely low. Rent yeilds are very high as compared to India. Hence, Robert Kiosaki's suggestion is correct as per American situation. In India, less debt is better.
In US, rental yield is between 4 to 8% whereas mortgage (debt) rate is at 3%.
Here in India, rental yield is at max 3% (except for a few over-inflated cities like mumbai, banglore) and home loans are at 6 to 8 %.
Agar ghar kharidna hai toh apke pas paisa kam se kam 70% hona chahiye aur apko ghar ki bajaye ek land leni chahiye kyunki land ki kimat hamesha badhti hai fir baad main savings karo aur 1 ya 2 kamre bana lena chahiye aur dheere dheere savings karke uspe lagana chahiye isse ap rent pe rehke apne ghar ka dream dekh sakte ho...
Perfect Video 🔥
Big fan sir ❤️❤️
Thank u bhai
❤️
Not every utuber earns same money. Some earns way more than someone else at same view count. Think before u start utube.
Generally brands pay more when ur content provide serious information and education on a topic.
Thank you for this video make more and lets all Indian become educated. ❤️
There has always been a confusion i had, though i have moved from a small city to a metro city recently, and my whole life i have been in a owned house, so this renting concept is a bit harse on my habits of living. But the confusion is whether to buy an apartment(flat) or a house with the land, as far as i know apartments after certain years can be a depriciating house. Please expain on this. And a house with a land has its own advantages.
A house will certainly be at a very far away commute distance since all interior areas are already brought up
One Big misconception that Fixed interest loan rates will have Fixed EMI for life. Thats wrong. There is NOTHING called Fixed EMI. Even Fixed interest rates are subject to change and at the sweet will of the Bank but yes the change wont be as frequent as a Floating rate. EMIs are never fixed for a longer tenure loan like Home Loan. Not many people know this.
Humare yaha rent pe sirf 11 month hi rehne dete hai, bad me firse dusra makan dudhna padta hai or sara saman ghumana padta hai or apna kam bhi disturb hota he, isme hum thak jate hai isliye emi par humne ghar liya..
Kahan rehte ho bhai? 11 months ke baad 10% rent increase hota generally. Wo bhi agr time se rent de rahe ho or ghar thik se rakh rahe to owner maan jaate or kam rent badhaate... I'm living on rent in Delhi NCR for last 8 years, hardly changed house 2-3 times
@@rohitsoni9325 me Gujarat ke Junagadh me rehta hu or yaha ese hi chalta hai...
I think you were finding it hard to justify why one should buy a flat! Post retirement thing which you mentioned can be overcome if one is disciplined enough and invests in mutual funds and buys a flat later with all the amount one has without having to borrow! Also buying a flat in tier 2 cities, post retirement shall be cost effective and health effective as well.
Oh my gosh! This was much needed. Thank you Pranjal 😊 💓
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Glad you liked it!!
PMAY+INCOME TAX benefits+ Rental income(5% YoY) > EMI for an approx 45-50 L home for 30 Years. I can vouch for this
One more advantage of buying a house is that after taking a home loan we also get tax benefits
Jamin kharid kar ghar banao. Bhada se bhi Paisa kamao, dukaan bhi lagao, Ghar & jamin ka bhi rate badhte jayega. Apne ghar me Raja ho. Rental wala me pressure bana rahta hai.
Thanks a lot for making a video on this topic.
As you said buying an house is an asset but according to many financial experts buying a house and then staying in that house doesn't considered to be an asset as in case tomorrow if you need to have certain amount or cash you won't be able to sell it immediately and even if you manage to sell then where would the person living in that house go to?
Thanks for posting such great video, It helps a lot🙏
We need to understand home is a goal not a financial instrument.
As Usual Good Video Sir, but you failed to cover the Highest Tax Exemption that a Salaried person can avail on a Home Loan (2 of them can avail if Co-owned) and also the pros & cons of PreClosure of Loans
Its not that much. You only get exemption on interest portion of Home Loan. That too this is only for ready to move home, or year from when you get possession of home.
Also there is HRA Tax exemption when staying in rented, and which is usually more than the exemption you get in EMI interest.
You picked the right topic which will be haunting many people from different age groups.
Awesome explanation 👌
Keep it up brother
Thanks for good content
Love from Toronto, Canada 🇨🇦
1 cr ka Ghar pe aap 25k rent nhi dete... Minimum 40 to 50k rent rehta hai...
Plus 10% increase on rent every year
Didn't consider the fact if you fall in 30 % income tax bracket and you can save tax upto 60k per year on interest payments of 2 lac plus 80c in principal payment.
Even rent paid also gets income tax benefits hence its okay to ignore in both cases
@@sangeethagannavarapu8285 Not at all ! because in paying rent you are not becoming ower of the house.
HRA deductions
@@whatsappstudio9568 considering tax benefits of HRA with home laon interest alone is apple to apple comparison. Because the interest component is EMI is just like giving rent to bank. But the principle component is what makes you own the home down the lane. And tax deduction for principle is any way with in 80C limits. In most of the cases that limit is filled by PF and other insurance payments which are mandatory. So while taking buy vs rent decision it's okay to consider all other factors and ignore tax benifits on both cases.
I prefer buy a house over renting a house because...
Rented house me deal-breaker problems boht hoti hain....
1. You can't customise it. Examples: AC fitting, inverter fitting, gardening, solar system installation etc. Ke liye landlord ki permission par depend karna padta hai.
2. Restrictions: No pets, No nonveg, No loud music, No commercial activities, No posters or screws on walls etc.
3. Marriage ya death ke time par landlord aapko sabkuch dusri jagah shift karne ke liye force karte hain. You can't rely on a rented house in such a situation.
4. Cost of shifting: suppose you pay 10000 rent for a house. Now someone offers you similar property for 9500.
Will you shift? No, because shifting and relocating is an headache for most of us.
5. Everything is fine... Suddenly you get a call from your landlord... Next month Tak Ghar Khali kar do, mujhe renovation ya koi Shaadi karwani hai ghar me...
You are forced to rearrange everything on someone else's wish.
Most people cannot compromise with above problems by saving some EMI or maintenance costs.
Maza aagya pranjal sir really proud of you always 😍😇❤️😘
One more point. Many people buy second flat, third flat as investment. But your flat will be in dilapidated conditions after 30 years but if you hold equity fund for next 30 years- you have good corpus for your Retirement.
Great way of explaining as always 👌🏼 keep sharing such value 🙌🏼
Bhai intro was awesome 👌
Dil ko chu liya
I am living in Mumbai and paying rent 15500/month, here flat price (1bhk) is around 50 lakhs and I will shift to Ahmedabad after 2-3 months, the house to be purchased is around 20-25 lakhs(1bhk) and probably emi will be 20 thousands per month. Can you please suggest to purchase or not? After watching this video, I think I have to purchase that flat.
Thanks
Hmm.. there is a catch in your analogy.. Rent has doubled in last 10 years. I'm not talking about any hypothetical situation as you, I'm just telling you the history. You know why rent gonna always increase. Because inflation..
Bhai tumhare logic mein multiple issues hain.. for example jab landlord 50000 karega to log usi ghar ko 75000 emi mein nhi kharid payenge kyunki tab tak real estate ka cost bhi badh chuka hoga.
Lastly, land/home ka cost kitna badhega ye location pe v depend karta hai, kuchha location pe real estate easily equity ko beat karte hain..
When all other TH-camrs made it difficult using math, here it is pranjal who made me make a decision just with talk without realising when 18 min passed ❤️
Seriously
What did you decide
@@indraneel5123 buying a home is better for me now.
@@rakeshraveendra7411 cool can you say which city.
Coz I am looking to go out of kolkata
@@indraneel5123 I am from Bangalore