When the heart says "Yes" and the mind says "No"
Or the vice-versa
Whom should we follow??
It’s truly a million-dollar
question. The answer may not be the same for all.
You need to think
patiently, your gut combined with your best judgement will assist you to find the right
answer for YOURSELF.
There are some
external factors which pushes our brain to think a little deeper and counter
our own intuition and hence we fall in a state of extreme dilemma which
sometimes forces us to take an impulsive decision.
It’s only you who knows your financial
commitments better than anyone else in the world, be it a wealth manager, financial
planner or any other external expert.
Attractive offers, marketing strategies, fear
of missing out (FOMO) pressure, etc. are some of the external factors which
tempts you to take a quick decision and we get carried away to conclude in a hurry.
In my opinion, when it comes to Real
Estate, we should not take any impulsive decisions and stop thinking about all
the external factors since this will have a long-term impact. What will you
miss? Honestly NOTHING.
“When you have money, everything is affordable
and the vice-versa is equally true”
Rather, you should spend more time to plan
your long-term cash flows wisely considering all your monthly commitments, family
emergencies, children education, etc. and most importantly SAVINGS for any unprecedented
situation in future.
Has your income really outgrown in the
last few years? Please check your bank statement carefully and draw
your net worth.
If all the boxes are ticked and you are
satisfied that you can easily manage your cash flows in the long term, its
always preferred to own a House than a rented property.
However, be careful and always remember
that there is no harm in buying a small house and then look for an upgrade in
future but the vice-versa might be painful.
Let's slow down and think wisely, before
you plan your house-warming ceremony.
My best wishes !!
You can share your feedback or write to us for any real estate queries at "sundeepbararia@gmail.com"
