When Should You Buy Your First House? | CA Rachana Ranade

In this video, I will be discussing with you all, how and when should you buy your first house, how to plan a budget for your house, and also I will be sharing my thought process behind buying a house property which will help you in making a wise decision when you decide to buy your first house.
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What is covered?
00:32 Introduction
01:37 What should be the budget for your house?
05:01 Practical Example
07:26 How to repay 20 years loan in 10 years?
11:03 What is the ideal time to buy a house?
12:35 How should you finance your house?
14:49 What things to consider before buying a house?
16:41 What qualitative factors should be considered?
17:51 Conclusion
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#RachanaRanade #stockmarket #firsthome

[@CARachanaRanade]

Here’s enabling you to take one step towards your investment journey! Get 15% off on all our courses site-wide - link.rachanaranade.com/Azadi Chalo banaye Har Ghar Investor! 🇮🇳

[@bhagwaforever]

1st like

[@bhagwaforever]

Your paid courses are getting leaked on Telegram

[@kiranmore9606]

Mam Mala Bike ghyayachi ahe pls asach kahitari thumb rule sanga pls mam

[@sandeshpatil5041]

mam courses are availbale in marathi language?? whole maharashtra is waiting for this???

[@Krishabh_Agrawal]

With the annual income which I have, I can't afford a house at all. If someone wants to take a loan of 50l, his income should be 10l🙄 Currently most Indians don't earn half of that. In my case let's say I earn 10l after 4-5 yrs. Then a 50l loan won't be enough considering inflation. That being said I can't afford a house and only renting is the option. Also, 20l per annum family income is like top 10% of total population

[@anandsatsangi1071]

All these calculations looks extremely sparkling on Excel but in real life no such thing exist. There can be medical emergencies, Children school college fees, marriage, divorce which will take a lot from your pocket

[@sauravkedia1120]

That is what you will have to save for right? I mean other than the fixed income you will have other side incomes and financial planning to substitute for those emergencies

[@narayanratawa5469]

Start with emergency funds

[@vidyadharkumar1736]

Those calculations are possible in real life too. Only thing is that you need to compromise little and should be able to differentiate what you need and what you want.

[@BarkaDog]

I like how you've kept both marriage and divorce expenses in mind😂

[@binod72]

@@sauravkedia1120 6

[@domcity11]

1:48 this is the best takeaway of this video. In most other countries people pay 3 to 5 times of their annual salary for house. Depending upon budget and city, either standalone house or apartment. However in India prices are already inflated 5 times due to black money holders and overall system. Hence common people are forced to pay 20 years of salary in advance unwillingly with home loan interests because it is a basic need. Standalone bungalow on a dedicated land still has some value. However charging such ridiculous amount for 1k Square feet apartment is a cruel joke. That too with inferior quality materials with no guarantee whatsoever for construction, completion, quality & legal documents. Government is there just to enjoy 6% stamp duty and GST. No tv channels or newspapers will explain this because they get huge advertisements revenue from real estate industry. In fact they all are working hard to convince common people that apna ghar to apna hota hai etc. so as to pull back customers and make sure common man pay such unacceptable amount in advance to land owners, builders, corrupt municipal corporations and banks such that their system keeps going smoothly as before.

[@artbyyogita]

You are absolutely right.

[@Roman19926]

This comment deserves to be pinned!

[@Anish61097]

Perfectly summed

[@wisecrackmelmoc2301]

Kadakkk point . This narrative of apna ghar apna ghar has ruined many families financially

[@shraddhaaadkar8729]

Aa

[@amiteshsharma9551]

"apna ghar apna ghar hota hai" feel this line very emotionaly for lower middle class family🔥

[@nileemasabnis6923]

Hi...I am CA. Nileema...I just came through your channel ...And kept watching and watching...It's a wonderful work you are doing to aware people about financial freedom...As we belong to same fraternity I really want to appreciate your work...Thanks

[@markcohwill526]

The best investment one can do right now is investing on Forex trading though stocks are good but ever since I swapped to Forex, I've seen so much difference

[@liamanthony8448]

@James Hillary I’m interested I want to move to forex can you help me trade?

[@christopherdench1422]

I'm so excited my life has totally changed since I invested $3500 and now making $25000 every month

[@christopherdench1422]

Frank kafeman

[@christopherdench1422]

@ gmail

[@jamesnod1128]

@Steven Howard frank kafeman is vastly defined in the binary and among a few other markets, he have acquired skills over many years of his experience

[@sportsvideos5034]

Live on rent for another 10 years and pay rent and invest the other money like emi initial payment etc in good mf or Stocks you can buy a house in 10 years with lot of cash extra too.. our society simply wants to leave in own house by taking loan and have a big Marraige by taking loan and suffer for rest of the life… work hard for 10 years and invest heavily. You can buy everything and have a better life in your 40s

[@agustinrajan8621]

But not everyone has that level of knowledge to pick correct stocks which would be that fruitful after 10 years and what you say is a risky option but can be fruitful.

[@akhandtechno]

Correct

[@LHA12]

Everything looks so good on theoretical basis but when it comes to practically apply these rules are too difficult 😅

[@ms_trading_school]

this is what a reason human minds prefer easy going hard living, but once you do start calculating every expense this will take you really into a different world try it.

[@nuggets9113]

I own various real estate properties but I'll always go for mutual funds or stocks and It’s quite feasible to make 6 figures trading monthly, I have made over $180k from July till now, with no funny or complex strategies.

[@palebiss1646]

I'm 24, had my first $300k few months ago. Working towards another $300k!Just being smart and frugal with my money. Thanks to my Dad for putting me forward to personal finance and Investing earlier

[@nuggets9113]

@@palebiss1646 That mean a lot but congrats 🎉 I celebrate your Dad too! He did great.

[@palebiss1646]

yeah! My Dad and I work with a US based financial consultant *’Laura* *Adams* *Goodman’* She's a good expert.

[@flossietaylor6239]

@@palebiss1646 hello, do you mind hooking me up with your expert?

[@palebiss1646]

@@flossietaylor6239 The expert I'm in touch with is *’Laura* *Adams* *Goodman’* and you can search her by her name. She works with Merrill Lynch near my old office so I see her often to discuss my business. You can use something else. for me, her strategy works hence my result. She provides entry and exit point for the securities I focus on.

[@InvestingJourneyWithYogesh]

I am planning to buy my second house but it would be my dream house. I will soon share the blueprint of how to do so.

[@amrithaaj9184]

As a person who is just about to buy a house, your video is GOLD!

[@srinivastrcareercoach]

Very True

[@lakshmis.s.3362]

I have gone same plan and bought a house in 2021 and also got PM subsidiary ....also thank u Modi ji

[@sandeepsharma306]

Can you please tell me, what is the process to get PM subsidiary?

[@vaibhavgupta5350]

Hi Rachna. You have considered ctc as monthly income. For someone eaening 1 lakh per month,after tax and pf deduction they must be getting around 80-85k only in which case the emi would be almost 50% of salary. For someone in 30% tax slab it would be even higher

[@ajinkyavaidya7129]

Rachana Madam, tumcha last point ekdum barobar hota. Aamchya landlord ni pan tech sangitlela tyancha ghar ghenya adhi, "Kuthe hi khila thokaycha nahi ! "

[@SUMANDEOGHURIA]

Why do you want to repay the loan early??? You can take an advantage of claiming income tax benefits also you can invest extra savings in index fund that can easily give you a 12 to 15% CAGR return.

[@nrupal_gtx_gamer9594]

These calculations are true if ROI is fixed but after Covid the rates are as high as 8.5-9% which increases the EMI

[@siddhantkadam4497]

Ma'am has really given a outstanding lecture on how to be safe home owner. I couldn't thank her more for her efforts.

[@karantidke1443]

You are saying asset to house but Robert kiyosaki says our house is not asset he gives argument asset is that makes money and liability is that we need to pay money and I also agree if our home value is not increasing yearly by 8% then this is a libality

[@shruti2406]

Even if a person earns 15lpa (1.25 lacs/month) you will never find a desirable house sply in metro cities less than 75 lacs. Its next to impossible for sole earners without generational wealth.

[@chhavikantsingh]

I am going to purchase a house next month and this video is quite helpfull for me since I have similar sort of condition where partial money would be paid by me and remaining would be home loan so that I can get the tax benifit as well as get an asset for myself ... I am 27 now and I would be able to knock off this loan in 10-13 years ..

[@krishnakantupadhyay3053]

Pls make a video on purchasing the land and then building the house 😐 Cause except for the few cities in In India, people in most states still purchase a land and build their houses. Also consider the point that they may construct extra floors to rent out 🙏🏻

[@Aadil69CA]

A very nice overview, Rachana. However, we have to factor in the last and the most expensive part of owning a house - Interiors. We dont speak about it much as it is subjective but plays a very important role in budgeting as the costs can be as frugal as a few lacs or even upto the price of the house itself. How does one budget for that? Any ideas?

[@nk759-rjp]

Please guide us.. How could we make our own house at an early age just by investment in stock market.. I am 19 right now bt stuck n need to have a small house

[@seethabrahma6064]

Nancy, u r so young, focus on your career first, automatically you will earn good money and buy your own home. GOOD LUCK.

[@suni.shetty]

Have a question. What happens after 100 years of apartment? What happens to our next generation of ownership?

[@rohitk4709]

This rule and strategy is really good.. i am not interested in buying house as i have one (inherited from my father) Really helpful. thank you

[@CARachanaRanade]

Thank you 😊

[@dipakpoojary6618]

I think your whole calculate is completely point less😤😤 How can any middle class individual can have 1 lakh salary monthly or his family income 12 lakh yearly. Emi at 7.5% are you joking housing loans starts at 8.5% that to at lowest. I am very upset with this video 😤😤😤

[@chantingconnection4512]

I think you should have minimum 50% funds in your account before paying the 20% or 30% as down payment to ensure that you continue to live the life and not just merely survive

[@thegoodwordproject]

Thanks for the great video! Would love a follow-up video on what is an optimal loan amount, keeping in mind the gains from tax benefits, possible gains from other investments; and adjusting for the interest payment corresponding to the home loan. Thanks in advance!

[@94srikanth]

First missed point is, house cannot be empty. Need to buy a lot to fill it. Next is emergencies, medicals expenses etc.

[@lostsoul4317]

Me suddenly feeling thankful living in my parents house 😌😂

[@chaitanyakakaraparthi7110]

Per month 1 lac salary i think this vidoe for rich people, we are below 50 k people

[@nehafmrainbowdelhi1017]

Hi Rachna ji. I'm a 34 year old unmarried woman living in Delhi. I wish to buy a 2bhk house for myself. If I say that my salary is 65000 per month. Could you please suggest what should be the cost of the house I purchase and loan and tenure. Please guide!

[@avijitchoudhuri1]

Not having your own home (be it of whatever size and value) leaves you dependent on the whimz of the owner and keeps you moving from one house to another whenever he asks you to.... So buy your own home if possible, keeping a lower burden on your financials. It is not wise to waste half your salary in emi though.

[@amoltitirmare3433]

Please tell which Documents we need to check before buying new or resale house.

[@muraliishwar7022]

The problem is the amount of black money involved. On paper it is lesser per square feet, say in case of flats. So, other than the down payment amount, registration, lawyer charges, interior designing charges, etc., you also need 10 lakh hard cash which is not accounted. So, basically you need 20 lakhs with you before you buy a 2 BHK apartment in my region.

[@arjuntyagi5860]

Don't buy house till early 30s , from age of 24-34 don't buy increase percentage of investment In equity, reit, gold bonds and dividend Take loan when repo rate is low more the repo rate more the home loan interest, pay 13 emi,

[@gautamipatankar2614]

Thnks you so mam for educating us on imperative topic. All these points helps us to dig down dip and take correct decision. Very helpful for people specifically coming from non commerce background. I would like to mention here other than stock market … Rachana mam you are educating us to take correct financial decisions.. Big thanks.Jai Hind 🇮🇳

[@CARachanaRanade]

Thank you for your kind words 🙂

[@srinivastrcareercoach]

Great share

[@prachigulekar7058]

Such a informative video🙏..Ma'am you are one of the best teacher I have ever seen

[@CARachanaRanade]

Thank you 😊

[@anonymousiitian522]

small people , insect buy anything by loan or plan anything to buy but rich people buy anything whenever they want without any loan or payinng any taxes🤑🤑🤩

[@anirban2120]

1 simple rule in life - try to upskill yourself, gain knowledge which in turn will help in increasing your earnings. With increased earnings, 20 years loan could be easily finished within 5 years.

[@srinivastrcareercoach]

Be a Life Long Learner Learning is the first step Learn Invest and Prosper Wow Har Ghar Investor Extra EMI is Mind Blowing Bulb on moment Qualitative and Quantitative Factors- Another GEM Cheers

[@shaileshingle5027]

Can you guide as to whether buying a house as an investment makes sense?

[@somrajgupta7603]

After seeing this video people who are sole earner, they would be like we can never buy a house don't even think about it. ✋️😃

[@kanubudhivenkataramanaredd2475]

Yes absolutely

[@shobhitatutube]

depends on your income, expenses and other obligations as well.

[@shraddhaverma1944]

I am literally in love with the knowledge and wisdom of Rachna ma'am, i wish i would have gotten a mentor like you 10 years before. Still better late than never.

[@SUMANDEOGHURIA]

I didn’t know the thumb rule before buying my first flat . But now I can see all are tick. My annual income is 7.5l my flat value is 40l emi is 24k tenure is 20 years

[@evadsouza2239]

How much was your down payment?

[@vanita2483]

Loan interest has gon up frm 6.7 to 8.9..in last year. Fr loan started last year itself.. Can you pls gv general idea hw to pay faster such loans. There is no Fixd interest.. why such video then

[@boyapatisiva7700]

Hi Mam, If the budget is 1 cr , is it worth to buy a house worth 1cr or worth to buy an apartment for 40 lakhs and invest the rest of the money on buying some land along side at the age of 24?

[@irfansinsight9883]

Never ever invest all you have on a house.... Spend max 50% and rest, invest in different instruments. Remember, don't over diversify.

[@abhijithbalakrishnan9437]

It was during a journey, That a co-traveller with no financial background, who spoke so well about personal finance and capital markets, that I had to ask about it. He mentioned this channel. Thankful.

[@gitupam]

If someone buys a plot and then builds a house with loan, what would you suggest...obviously it's in tier2 or 3 city

[@blanferns]

Furnishing, lighting, air conditioning, home appliances etc are substantial expenses on buying a house.

[@shivpujari5379]

Too good 10/10 the way u explained i am speechless Information was worth.. Being a teacher i feel ther such videos must be made compulsory for college students. So they can plan for their future Like saving investment n all Keep it up mam.. Do u have trading class for freshers.?

[@rushi_artworks]

Trick to Repaying loan in less tenure by repaying 1 extra EMI every year is amazing. But can you or someone tell me.that how we should communicate this with banks?? Coz no one on YT is talking about this and most of the banks have so many rules regarding loan repayments. Please reply if anyone has some knowledge

[@rajdeepchandra9807]

Also please make a video on what factors to look for before buying a house.

[@manishpadaniya5103]

Thank you ma'am for wonderful video. I'll definitely think about all these aspects before buying my first house

[@srinivastrcareercoach]

Correct

[@gopikaprabha2602]

The cash flow is 10.5 yrs includes interest is added. Hence the target loan amount is increases too right ??? Can u justify that please

[@karimkhoja6595]

Thanks for the information. I just wanted to understand the reasoning behind the thumb rule to understand finance more.

[@ms_trading_school]

तर्क मानव मन द्वारा ही बनाया गया है, इसे बदला जा सकता है लेकिन कुछ थंप नियम देने के पीछे का कारण पैसा बर्बाद करते समय मानव मन को नियंत्रण में रखना है।

[@mrnobody2387]

As a having 220k annual income my dream should be buy chaul and not roaming around this type of video 😊

[@malavsoni6814]

Hello Ma'am, At 14:18 you mention that we can claim Interest repayment and principal repayment per owner so how will that work? Let's say If 3 family member buys a house then can they all claim the same amount individually under section 80C for repayment? and 24(b) for interest payment on home loan? Is that claim allowed by IT?

[@AnujKusumwal]

Can be claimed in any ratio by the owners. Total amount claimed should not exceed the total repayment.

[@dhirajjain7607]

Could you please make a video whether should we buy commercial real estate property or residential property, as the rental yield of commercial property is higher than residential property. So, it will make easy for me to buy a residential property after commercial property as the rent would help me to repay my loan.

[@JJ-ev5mp]

You should never buy house with multiple family members names - we are indians & 100% it will conflict in future so buy house with one name only & husband wide should buy house only after 6 years of marriage bcz now a days divorce cases are big issue so later home problem will come

[@avinashrockstar]

Getting a 1crore flat for 2bhk is a bad decision

[@surajkadam8032]

Thank you so much for this video Rachana ma'am. All the aspects have been covered very nicely. One of the best videos I have seen on this topic.

[@CARachanaRanade]

Thank you 😊

[@vishwasshanbhag2159]

The points covered and explained in the 4th minute.. superb... I never thought it in that way.. makes me feel bit more relieved 😄

[@samparoy1534]

During payment of subscription it's error.. please resolve

[@husainsharaf7615]

I have bought flat in vadodara & the builder is asking for moving charges on possession reasoning that they keep this payment for construction damage safety happens by workers when interior work starts & a certain amount is not refundable. Its fine they take cheque against security but they dont refund & transfers that amount in maintenance funds which they already charge once. What should be approach for this ?

[@MD-he2tu]

Please provide all your presentation in the Document so we the common people will save and work on them for future purposes.

[@nityammakawana2346]

Please make video on doing SIP in SGB Gold Bonds.

[@akashmhaiskar5426]

Thanks mam, I have already applied for home loan and after watching your video it seems I made correct decision and followed all your rules correctly.

[@CARachanaRanade]

Great 👍All the best

[@podamaire]

In the One EMI Extra trick, you should have kept the EMI constant. i.e. 10k per month. The example you gave, is more like 8.33% More Loan prepayment (which will reduce the Principal amt). Also, your explanation for staying within the 40% EMI bracket was, our salaries will Increase every year. My question is - WHICH COMPANY GIVES A 8.33% HIKE EVERY YEAR yaar? Only INFLATION Company!!

[@abhimanyugajbhiye9609]

रचना मॅडम मी भारतीय रेल्वेमध्ये कार्यरत आहे मला महिन्याला 27000 पगार मिळतो मला माझं स्वतःचं घर खरेदी करायला किती वेळ लागेल कसं करावं लागेल बँकेकडून कर्ज घ्यावे की सेविंग करावी याबद्दल योग्य मार्गदर्शन करा प्लीज

[@shobhaborade5316]

Which jome loan is better fixed or floating??

[@shashankgupta6195]

Thank you very much for the suggestions and information Ma'am. It helped me a lott for the calculation. Currently I am in position to finalize my first house which I am searching since few months. Can you please help with information related to leasehold property? I am not able to finalize my decision because of the complete clarity, all the pros and cons.

[@ashwajeetbhagat9880]

kaash meri financial management ki teacher bhi aapke jitna hi acche se padha pati. 😔

[@harshadsawantdesai4530]

i wish your channel would have started 10 years ago😢...it's really helpful

[@TT-qv5bt]

Is this net family income in calculation shown? I mean after paying income tax , variable pay etc .. 🤔🤔

[@whatsapp..582]

🔝📩📩.

[@hemchandrasawant6761]

Cost of house should not be more than 5 times annual income? चला, मुंबईच्या बाहेर जायची तयारी करायला हवी म्हणजे🙂

[@anandseshadripianist_compo3196]

can we include our living house in our net worth? For calculating Financial Independence?

[@rishabhroushan8875]

Amazing way to begin a content. Loved your creativity

[@CARachanaRanade]

Thank you 😊

[@MrBlackjack456]

Title: "Key Considerations Before Buying Your Dream House" Summary: In this informative KZbin video, CA Rachana Ranade discusses essential factors to consider before purchasing your dream house. She begins by explaining the 5-20-40 rule, where your house's cost should not exceed five times your annual income, the loan tenure should not exceed 20 years, and your EMI should not exceed 40% of your income. Rachana emphasizes that this rule applies to family income, not just individual income. She also introduces the 50-30-20 rule, explaining how your budgeting can be adjusted to accommodate the EMI within your overall expenses. Rachana highlights the importance of understanding your budget and ensuring it aligns with your financial goals. The video provides insights into the advantages of financing your house with a loan, including tax benefits, legal security, and improved credit scores. Rachana explains how managing EMIs can help you become financially disciplined. Additionally, she discusses factors like property registration under RERA, the choice between under-construction and ready-to-move properties, the significance of home insurance, and various costs associated with buying a house. Rachana also touches on the emotional security of owning a home, capital appreciation, and building equity through loan repayments. She concludes by encouraging viewers to make informed decisions when it comes to buying a house.

[@oishik291091]

@Ma'am it has assumtion that expenses shall remain constant : on average in a span of 10 years your will have children so even the added income may not suffice as you will invest in his future also . I may be have a reserved bias but its true

[@Bethechange766]

One important question: can I buy residential flats on the name of my company instead of my own name? Because rent received will add to my income but it is under my company name, I can show expenses and reduce my tax liablity? Do you think it is a good idea to start a company and then buy flat? Is it legal?

[@amitnandlaskar9461]

What type of intrest should we choose? Fix or floating?

[@aniketgadge24]

Mam please make this video on Marathi you tube channel for better understanding 🙏

[@priteshjatav1220]

Ma'am how do you find these types of thumb rules like 5 20...

[@sagar23781]

There is no video on people in tier 3 cities, who have to first buy a land and then construct and wait for it to complete and then reside

[@aaditabhavi8098]

If a salaried person taking loan, do we get annual 2lacs interest benefit? How does it work plz share

[@MadKingMaverick]

I have a lump sum amount and i want to buy a house. How can i buy the house by preserving the my principal amount. E.g should i invest that amount in FD and pay the interest which i got from FD to home loan emi ? Is there any similar ways like this to keep ur principal amount secure ?

[@filmypanthyunltd.7602]

This video is unrealistic as the things that CA has mentioned do not apply to real life, but thats about this video. She is really good, that's true.

[@mandy...791]

Thank you Rachana mam... One doubt Family income is "in hand" or "total package"?

[@himanshuverma3984]

In hand

[@dimaagkharabhaimera]

Have some commonsense

[@vetrivelps6047]

In Hand after all Taxes.

[@payalg6391]

Hath me kya milta hai usme he pay karoge na emi 😂

[@kartiksoni4702]

If I want to buy house around 60L then I have to pay 15L as down-payment and registry. Saving this huge amount of money it will took me 4-5 years. I'm 26 now after saving that money I'll be 30. Then after 5 years home price will also increase I didn't get the math right.

[@kushalmajumder4588]

Thank you mam for such a clear figurative video. Question is, is it advisable to pay off home loan EMI earlier than tenure, as I heard that home loan is considered as "good loan"?

[@rocku4evr]

multiple angles involved for a 20-year loan you would be paying more than 2x of loan amount..and it can increase as the rates are floating so it is better to pay off the loan and save around 60-70% of the interest + be debt free

[@sanrock21]

@@rocku4evr But lets keep 7-8% as interest as constant for home loan, so where will you get loan at such better interest, even personal loan is 11-14/15% depending on individual, so why can't we take some advantage of repaying it slowly and invest the rest in MF, max I am not expecting it to grow 12-13% yearly, it may grow 15% also but to keep all ups and downs of the market in the coming years. will that help, First I was also in the impression of repaying it in Half the tenure of what I get by this analysis what she said..😊

[@priyankagoel6280]

i think video is very nice but most important factor that is missing in calculations was tax both as benefit due to loan and inital calculation of family income

[@anaghajirankalgikar3503]

Hello ma'am, you compared between rental property & owned property. But what do you say if person keeps renting through out his life, what will happen in retirement age ? Did you consider it ?

[@jaypalnitkar4400]

Home loan EMI is like a necessary evil. You get stuck in corporate life even if u hate it, work in toxic job even if u hate it and your SIPs in equity take a big dip. Isn’t taking a rented home a better idea ?

[@pratikshetty452]

Ma'am please make a video on best real estate investment.... Shop, house, plot, or land

[@CARachanaRanade]

Noted.. Shall try

[@himanim4471]

What if we are living in govt quarters and we will be requiring House after 30ste . In that case when should we buy a house ?

[@jugendrasinghedi]

very good info but we are already late and paid double of loan amount.

[@Shreya-el1oo]

Should the house be bought on floating rate or fixed rate?

[@sumitsabhnani]

Thank you for this detailed video, really appreciate it. I have a question though, suppose the house will cost me 50L, and I have 50L cash in hand but instead of using the cash I take loan from bank and put my cash in FD. I know that the rates of interest are much higher on loan than on FD, but here is the calculation which I did (from online calculators) 50L Loan for 10 Years at 11% (Assumed Interest rate) = Total Payout - 82,65,001 /- 50L FD for 10 Years at 5.9% (Current Interest rate) = Total Maturity Value - 89,81,159 /- Even if I pay 10% TDS on profit earned from FD, I will still be in profit and will have cash in my hand for any emergencies. Plus I can get tax benefit on loan amount in my ITR so that will be added profit. Can you please tell me what am I missing here? As this does not seem right :)

[@navdeepkumar3193]

+1

[@b1c2_1]

1)If you take loan of 50lacs to pay for house, then buddy you got to pay 68,875 monthly as emi for that same loan and you can't tell the bank come after ten years I will pay you from my FD 2)Also FD rates to my knowledge change and what I have seen is that as country develops the interests rates for idle cash reduces over a period @navdeep 3)I am not taxpayer so I don't know but as ca inter stud I guess benefits are not given on loan amount but on interest and principal amount paid in the year 4)you have drained yourself of 50lacs which could have been used(some of it) for some short term investments... @naveed kumar

[@kumarrajesh5668]

I had the same idea before...but now It's better to buy gold instead if we are able to pay EMI from hand......for sure gold will triple before u complete paying loan

[@sumitsabhnani]

​ @Ankraj 1) Yes I agree I will have to pay Rs 68,875/- monthly emi but lets assume that's not a problem 2) Yes FD rates change but if I create FD suppose today and apply for the home loan also today, I will be in profit (as per my calculations above) 3) Yes tax benefits are on interest and principal amount but I think probably we can rule this out as getting the tax benefits has lot of other conditions 4) Yes there could be lot of other investment and with 50L probably one can make lot of profit in 10 years but I am choosing FD because it is safest investment do you think after that it make sense to take loan from bank and put your money in an FD?

[@b1c2_1]

@@sumitsabhnani see if paying 68k after just depositing 50lac in FD is not a problem for a individual then that person should instead purchase 50lac ka house on cash 1)he will receive cash payment benefits which may be builders can give dis of 1-2lac 2) that person after buying house in cash should start investing 50k(emi was 68k) and build his own portfolio then in 6 yrs(roi 5%) he will have 42 lac [nse roi avg have been 17%] . see there can be lot of permutations but remember you got to make provisions for short term as what will u do if your saving aren't enough for unfortunate event. in my case you will be having good sum of money in 3 years ...after that event you can relax 1-2 yrs and start same investment cycle....still you will have 50lac house in 1-2 lac discount and will accumulate or become owner of another 50 lacs before 20 yrs {most probably within 10 yrs} [you invested 50k not 68k spare money will improve quality of life]