Your salary is quite good and you can easily buy a house of around 70 lakhs by taking a loan. However, you need to have 15-20% of the total amount of buying property.
If you are purchasing property for self-occupation and currently paying rent then it is better to avail loan as 30 lacs Loan which will have EMI of Rs. 27–28k for the tenure of 20 yrs. If you are planning to buy for rental and you are sure that rental income will cover your EMI obligation then you can go ahead with the loan.
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What should be my approach to buy a home? Given that my monthly salary is Rs. 90,000 per month.
Ruchi
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November 4, 2020
2020-11-04T16:46:29+00:00 2020-11-11T17:05:26+00:00Comment
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Investment
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