Who wouldn’t have this dream to have their own house? Everyone’s sentiment is attached behind this, but if you think economically, then by adding the money and taking home loan you will build your new house, you can earn crores from the same money and there will be no pressure to repay the home loan installment. Let’s understand how this will work…
For example, suppose you have decided to buy a 2BHK flat, which costs Rs 35 lakh. Apart from this, you will have to pay 5-6 lakhs down payment. At the same time, you will also have to pay for other things like stamp duty, registration fee and transactions with the broker etc. Now if you agree, you have spent 10 lakh rupees in all this work. By adding 35 lakh house and other expenses, you have got 40 lakh rupees. Then assume that you got a loan from the bank for the remaining 30 lakhs. You got it at an interest rate of 8 per cent.
Now at 8% interest, you will have to pay around Rs 25,000 as EMI on a home loan of Rs 30 lakh in 20 years. In such a situation, after spending 10 lakh rupees, 25 thousand of EMI will have to be paid every month.
Let’s go ahead and now come to the rental house, which you can get for 10 thousand rupees. Now if you see, instead of 25000 rupees, you will give 10000 rupees in just a month. Your remaining 15000 and now can invest it in any good place, from which a fund of crores can be created. SIP is considered a good option in case of high returns. He can give you returns of 10-12 per cent. It has been seen that in the case of SIP, even giving 15 percent return is not a big deal. In such a situation, if you invest your remaining money in a SIP for 20 years, then you have a fund of about Rs 2.28 crores ready. Apart from this, you also have that 10 lakh amount left, which was to be used for stamp duty, registration fee and transaction with broker etc., you can also earn crores by investing it.
first published:Jan. 12, 2022, 12:29 p.m.