I began engaged on a everlasting foundation in September 2018. Before that, I labored as a freelancer. Currently, I’ve round ₹12 lakh in my checking account, ₹5 lakh invested in shares, ₹1.75 lakh invested in mutual funds and ₹4 lakh invested in a five-year mounted deposit. I’m planning to purchase a plot of land value ₹22 lakh. Should I pay the entire quantity in lump sum or ought to I am going for a house mortgage? I’ve plans to get married in 2-3 years. Also, there’s an opportunity that I would go overseas for larger research in subsequent 1-2 years.
—Name withheld on request
From all the main points talked about, you might have near ₹23 lakh and in the event you use these belongings for purchasing the property then there will likely be hardly any liquidity left at your finish. You mustn’t liquidate all of your belongings to purchase this property and you could think about taking a mortgage at this stage as rates of interest are low. The charges might not essentially stay low in future, however you could want some corpus as you’re planning to get married or go overseas for research.
Harshad Chetanwala is founder, Mywealthgrowth.com
Subscribe to Mint Newsletters * Enter a legitimate electronic mail * Thank you for subscribing to our publication.
Never miss a narrative! Stay related and knowledgeable with Mint.
Download
our App Now!!