I am earning 1.5 lakhs month. Should I buy 2 BHK flat with loan or invest in stocks? | Technical, Finance, Investment Questions

I am earning 1.5 lakhs month. Should I buy 2 BHK flat with loan or invest in stocks?

Surender Pandey

3 years ago

I am working as software engineer in Bengaluru since last 6 years. My monthly salary is 1.5 lakh per month. I have savings of around 8 lakhs. I am married but my wife is not working and she is a house wife. I have seen some of my office friends have bought 2 BHK flat in Bengaluru which cost around 60 lakhs with home loan. One my friend also did same and he paid 12 lakhs down payment to builder and now he is paying around 40,000 EMI monthly. He will get possession in 2025 and till then he has to pay rent along with EMI. He is staying in 2 BHK flat with monthly rental 22,000 and 2000 maintenance. So every month, he has fixed expense of 64,000 including rent and EMI. His monthly salary is 110,000 after deducting taxes. So after paying all his rent and EMI, he is left with around 46000.His wife is a house wife and they one 3 years old kid. His monthly expenses after paying all the bills and shopping costs, he is left with only 10k monthly. Next year his son will start going to school and his expenses will become more but salary will not increase in that proportion. He is very much stressed now a days as if he gets any emergency in any month, it's a big financial problem for them. These people can't even plan a proper holiday for them. This situation is not going to improve soon as he will get possession of his flat only in 2025 and home loan is for 20 years.Same story I have heard from most of my office friends. I am a very happy living person and I like to visit around places out station at least once in a 3 months and I can't just sit in home for paying rent and EMI.Now I am little bit confused whether I should go ahead and buy flat and lose all my savings or should I invest 80% of my savings in mutual funds and stocks and live EMI free life.Thanks in advance for your suggestions.

Surender Pandey

Software Engineer at Amazon India

3 years ago

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