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.
If you are looking to learn on different topics of finance in depth then the ET Money UA-cam channel is a must. The explanation by Mr. Shankar Nath is unparalleled.
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.
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
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.
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..
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
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 😅😅😅
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.
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
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.
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.
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
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.
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.
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.
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.
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.🤝
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)
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.
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
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.
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
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 ✌️
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.
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. ❤️
Can't believe..I subscribed you when you had around 1 lakh subscriber...and now it's around 34 lakh subscriber...and that too in a pretty short span of time...
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%
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.
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’
THANKS PRANJAL ur advice is really fruitful to me i got a really good knowledge abt the account opening in the bank and low expense ratio in mutual fund now this video... ur doing great buddy keep up..
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.
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
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 :)
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.
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
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 trusted you and installed this Slice app, one by one it took all my data and now it forcing to buy it's card. No option to proceed without that. I thought yo are a good financial planner and are providing right guidance on this channel but I wrong.. You have just made it a money making business.
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😁
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 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🙏
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.
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.
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
Very good content, Pranjal is one of the best, no comments here. But. But .But. Very annoying cuts with flashes in between, it is good that editor is trying something new, but it needs to be subdued. Also a darker color t-shirt will help it is over exposed to keep good exposure on face and background. Cuts are very rough, audio content is getting "Sliced".
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.
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.
When all other UA-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 ❤️
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 %.
You just said what i already understood and convinced myself on having a home. If one dont have a own house, plan it before one retire, but dont takt 80%loan. Put tht amnt in SIP, and try yo make atleast 70% of property as downpayment.Take loan only when one have 70% of cash downpayment. And do it ASAP. If, you already have own house, like you inherit a property, then dont waste money on buying another one, unless, size, locality and other small things are issue...put money to maintain that and live.in rent...enjoy with the money you earn
@@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.
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.
Nice explanation...buying a house give the owner ship as well...which can't be compared...like in covid time RBI has given flexibility in paying emi, people has deferred emi for 3months as well, but many house owner asked their tenant to leave the place if not able to pay rent...
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.
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?
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 UA-cam channel is a must. The explanation by Mr. Shankar Nath is unparalleled.
Asset Yogi is one of 💎
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.
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
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.
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.
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
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....👌
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
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.
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 !!
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.
प्रांजळ तु तर खूप मस्त आणि फायदेशीर गोष्टी सांगत आहेस,
Perfect Video 🔥
Big fan sir ❤️❤️
Thank u bhai
❤️
बहुत बहुत धन्यवाद। में दुविधा में था आपके vdo ने निर्णय लेने में बहुत मदद की।
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.
Oh my gosh! This was much needed. Thank you Pranjal 😊 💓
🪙
Glad you liked it!!
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
U r really a good human being dear. U always give the practical information to people. Great work done.
moto for 2022 , AAJ kuch tufani karte hein....Rent vsTent ... 🤘🤘
🤣🤣🤣🤣
🤣
Very nice slogan 😂😂
🤣
😁😄😄😄😂😂
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)
For rented house, we also get maintenance costs, eg: taps,pipes, electric components,etc
Wo to tere apne ghr m bhi hoga
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
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.
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
Bhai intro was awesome 👌
Dil ko chu liya
You are a great teacher. I have learned a tons from you
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
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.
Maza aagya pranjal sir really proud of you always 😍😇❤️😘
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.🤝
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)
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.
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
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.
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.
Great way of explaining as always 👌🏼 keep sharing such value 🙌🏼
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
Awesome explanation 👌
Keep it up brother
Thanks for good content
Love from Toronto, Canada 🇨🇦
Sir ji starting k 2 minutes dil ko chu lie 👏👏
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 ✌️
भाई सिर्फ आपका ही वीडियो मैं बिना स्किप किए देखता हूं 🤗
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 😅
Sir mai ak force member hu I always saw yr vedio apne bahut kuch sikhaya hi thanks
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.
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. ❤️
EMIs also get increased, whenever banks increase interest rate. Timestamp: 11:50
Can't believe..I subscribed you when you had around 1 lakh subscriber...and now it's around 34 lakh subscriber...and that too in a pretty short span of time...
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 😂
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.
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’
Thanks the lord sir may god bless you forever in your life these videos is so use full for younger boys'
THANKS PRANJAL ur advice is really fruitful to me i got a really good knowledge abt the account opening in the bank and low expense ratio in mutual fund now this video... ur doing great buddy keep up..
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
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 .
@@Englishmadeeasy94 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
Pranjal bhai.. Bass apne logic milte hain ... Thank you
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
हम रोबोट्स नी😎😎😎,अपना घर तो अपना होता है🏡🏘️🏫😁😁😁,शानदार वीडियो प्रांजल जी🙂🙂👌👌🇮🇳🇮🇳🙏🙏🙏
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
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
Thank you sir for make us bit more financial educated✨
You picked the right topic which will be haunting many people from different age groups.
One of the major cost is stamp duty which is around 6-8 %
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
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.
I trusted you and installed this Slice app, one by one it took all my data and now it forcing to buy it's card. No option to proceed without that. I thought yo are a good financial planner and are providing right guidance on this channel but I wrong.. You have just made it a money making business.
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
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 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🙏
Same man, same topic and one year later. A totally different view! Something to think about.
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
I was looking fr this video, finally i got, thanks a lot sir
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.
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.
प्रांजल सर आप तो मकान मालिक का धंधा बंद करवा देंगे।
कुछ हम लोगों को भी जीने खाने दीजिए 😂😂😂
I'm your big fan 😍
Same bhai 😂😂
@@iaryansr 😂😁
Very well explained. Welldone Pranjal. God bless u always.
Best way:
Till 35 rent and invest in Equity
Then by own house
Good suggestion .
Good info sir👌👌
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...
Very good content, Pranjal is one of the best, no comments here. But. But .But. Very annoying cuts with flashes in between, it is good that editor is trying something new, but it needs to be subdued. Also a darker color t-shirt will help it is over exposed to keep good exposure on face and background. Cuts are very rough, audio content is getting "Sliced".
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.
There many videos available on the same topic and I've too watched many but this is the best video indeed 👌👌
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
U deserve more subscribers bhaijaan, loved this content
When all other UA-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
Home 🥺.
Thanks buddy 👍🏻
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 %.
You just said what i already understood and convinced myself on having a home. If one dont have a own house, plan it before one retire, but dont takt 80%loan. Put tht amnt in SIP, and try yo make atleast 70% of property as downpayment.Take loan only when one have 70% of cash downpayment. And do it ASAP.
If, you already have own house, like you inherit a property, then dont waste money on buying another one, unless, size, locality and other small things are issue...put money to maintain that and live.in rent...enjoy with the money you earn
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.
Nice explaining and you are correct 💯
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.
Nice explanation...buying a house give the owner ship as well...which can't be compared...like in covid time RBI has given flexibility in paying emi, people has deferred emi for 3months as well, but many house owner asked their tenant to leave the place if not able to pay rent...
One more advantage of buying a house is that after taking a home loan we also get tax benefits
You are my favourite Finance youtuber. ❤
Hi
In rental/purchased house comparison nobody includes the cost to move in rental houses every 12-24 months
exactly
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.
Middle class ko kitna sochana padta hai hena...🤷♂️
Hmare desh me jyadatar log ghar ye soch k lete hain, ki apne baccho ko ready house mile.