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Am I taking risk by buying an apartment in a tier 2 city?
Hey everyone, I’m 24 years old and currently earning ₹70K in hand per month. I’ve been considering buying an apartment in a Guduvancheri. The apartment costs around ₹50L, and I currently have savings of ₹28L. I could take a smaller loan or use a significant chunk of my savings. I’m trying to figure out if this is the right time to make the purchase or if I should wait a bit longer. Since I’m still early in my career, I want to ensure this investment doesn’t affect my financial flexibility too much. Would love to hear from people who’ve been in a similar situation or have insights into real estate trends in Tier 2 cities. Am I taking a big risk? TIA!4
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