Source
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.
FEASIBILTY
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.
The rewards earned on this comment will go directly to the people( @arunava ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
You are right. The rent prices are high up in the sky nowadays. Hopefully soon they will come down. Most landlords are very greedy. While most people are willing to pay a very high rent price, many people cannot (or hardly) afford rent nowadays.
I believe that Property and Land Prices have saturated but there is evidently a lack of Houses still in the Market so the Rental Market should be the one profiting from this endeavour and people can make some quick Rental Income.
Yay! 🤗
Your content has been boosted with Ecency Points, by @arunava.
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
I bought a land that was taken from me because I didn't build on it within a year. Buying a land is just 10% of ownership here. Anyways, wish you success in your final decision
I fully agree with you, in the current state of affairs buying a house is not the best investment; I, despite having a private house with my wife, have always been to rent also because we like to change places and cities often. Sure the house could bring an income but probably, it is not the best time to launch these investments.