Should I Buy a House?
For the last couple of months, my parents and some of my relatives have constantly been asking me to Buy a New House as I am earning sensibly now, and Buying a House is the next best thing according to them. But here is why I feel that Buying a House right now is definitely not the best option for me both in terms of ROI as well as feasibility.
Buying a House right now is really not feasible for me and the main reason I believe that's the case is that my Parents have already built a House for all of us and where I come from we usually tend to stay in a Single House and staying with parents are kind of the norm. Yes, there is a slight chance that in the future things may change but I am not willing to roll the DICE and buy a new house on the off chance there are some issues in the Future. As of right now, our Family consists of just three people and even when I get married, the highest number of people in the house could be around 5 which is ok as we got a 3 Bedroom Duplex.
RETURN OF INVESTMENT
The primary reason my parents or any other Indian Parents are asking me to buy a new house is that in their Time which is in the last 30 years or so they have seen Property and Land prices go literally 100x and in their minds, they have imprinted a stigma that Land and Property will always go up in value. But I beg to differ in this case as well, the reason I think the ROI on Property and Land will not be as huge as before is that personally, I feel like the Property and Land prices have saturated a bit as it went way too high way too quick. On another hand, we now have Investment opportunities in an emerging market like India, and not forget the huge Crypto Market which can give us more returns than buying a Property or Land.
Plus I have to add the fact that Buying a Property or Land is a Huge Capital Intensive Game and even though I could buy one at a Down Payment of over 75 percent Cash the capital that I will be spending will be too damn big and will stay stuck for a long long time.