Harmohan Sahni, MD of Raymond Realty, says that if you can afford 60–65% of your dream property now, you should buy it

You can feel that the house you desire is out of reach, yet the one you can afford might not feel right. Sahni says that affordability should be your anchor and you should never go too far.

No matter how old you are, whether you're 30 or 60, buying a home is never easy. The perfect property often seems out of reach. When you plan to buy, the most important thing is how much you can spend. Harmohan Sahni, MD and CEO of Raymond Realty, says that you should never overextend yourself because life is unpredictable and having a financial cushion is very important.

"Go forward if you can afford 60–65% of your ideal home right now. It's a natural way to protect yourself from price increases in the future, and if you make smart upgrades over time (not too often), you'll get the lifestyle you want. In India, property prices will rise together with the economy throughout time. In the end, renting may seem cheaper on paper, but owning a home will always feel better in your heart.

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He added that it's never easy to decide to buy a house. You can't afford the home you desire, and the one you can afford doesn't feel right. "The choice of lifestyle is at the heart of everything. Affordability should always be the main thing. Don't ever overdo it. He said, "Life is unpredictable, and you might need some extra money for bad weather."

Sahni remarked, "That being said, a home is more than just a number. It gives security, stability, and meets a deep emotional need to belong."

He said he noticed a Reddit discussion where a couple in their early 30s was talking about whether or not they should buy a house in Hyderabad.

"Their problem seemed very serious to me: EMI payments, worries about work, and the fight between heart and maths." One person did an excellent job of breaking it down by looking at both the emotional and financial sides of the decision. In the article, Sahni remarked that it made her think about how common this problem is for people of all ages.

Sahni talks about a couple in Hyderabad who are having trouble buying a property because they want it emotionally but can't afford it.

The post on Reddit The case Sahni talked about was about a couple in their early 30s who made ₹4 lakh a month. They want to start a family and are thinking about buying a house in Hyderabad.

The spouse said, "Right now, 2,000 sq ft flats in Hyderabad cost between ₹1.5 crore and ₹2 crore, and most of them are still being built." It's still hard for me to justify buying it at these prices. We have enough money saved up to make the down payment. "What should we do now?"

He said that their desire to acquire is based on feelings.

He said that renting makes more sense mathematically, but for how long? Their biggest issue is how to pay off an EMI of ₹1.5–1.8 lakh and the long-term financial commitment, especially since they aren't sure if their jobs will be stable.

Source: Hindustan Times