My salary is 80k in hand and I don’t have any other liability. My parents are dependent on me. My job is in Gurgaon and I stay at 5 hours of travel. I go to office thrice a week.
I have a property that’s between my father and uncle. My uncle is asking to sell it offf while my father wants to keep it. Should I take a home loan of 12 lakhs for 4 years or not??
Ans: It sounds like you're facing a significant decision regarding your financial future, especially with your family's dependence on you. Have you considered the broader implications of taking on additional debt? As a Certified Financial Planner, my concern is not just about the numbers but also about ensuring your overall well-being.
Taking a home loan of 12 lakhs over four years might seem like a solution, but it's crucial to weigh the pros and cons. Consider the impact on your monthly cash flow, especially with your salary and travel expenses. Reflect on your long-term goals and whether this loan aligns with them.
Additionally, the dynamics surrounding your property add another layer of complexity. Have you discussed the situation thoroughly with your family, considering both your father's and uncle's perspectives?
Ultimately, the decision rests on finding a balance between your financial obligations, your family's needs, and your own aspirations. Let's explore all angles together to ensure you make the choice that best serves your future.