Business Standard

Monday, December 23, 2024 | 03:05 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Why purchasing a house early in your career can limit your options

Changing city to pursue better career options, or taking a sabbatical for higher studies becomes difficult

loans, emi, joint-loan, borrowers, home loans, housing, residential, property, repayment, debt, restructuring, moratorium, shares, brokers, agents, stocks, insurance, agreements, contracts
Premium

An early purchase also comes with issues; losing the flexibility to change cities in pursuit of better career options could prove costly

Sarbajeet K Sen New Delhi
With the housing sector on the upswing, many young professionals are getting tempted by builders' sales pitch to buy a property. However, interest rates on home loans are now bound upward. Taking on a large liability early in their lives also creates its own issues. Millennials need to weigh the pros and cons carefully before taking the plunge.

“Demand from millennials is up due to the tax benefits. They prefer compact apartments with an extra room to accommodate work from home. Their budgets range from Rs 50 lakh to Rs 1.5 crore across cities,” says Ritesh Mehta, head (west), residential

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in