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When am I supposed to buy a house in this economy
Its a part hypothetical/ part real scenario. I’m 24M and I earn 70k pre tax in hand a month. I invest around 25-30k pm and not much expenses as I am sitting at home for now. I expect my salary to increase along with my costs as I shift job end of this year along with location (most likely). My family is well off with multiple properties, I am not sending money home or supporting anyone else. Other than 10-12k helping with home expenses I want to get a home in my name as soon as I can, but what factors should I look out for. How much loan/interest/salary expectation etc and home prices in this city should I expect. Say for example home loan on 2bhk in a decent area. If situation favors I’ll rent it out and go live in a cheaper place near my work. Or sit in that house and not earn rent, but not pay rent either Is my question too stupid? Am I even asking this too early? Is it unrealistic af?5
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