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Siblings buying a house
Me and my brother are going to buy a house soon together. We are 4 people with our parents and we want to buy a house where our parents, my brother, his future family, me and my future family can live together for atleast next 5 to 10 years. We have a total family income of 1.5L per month and total family expenses around 45k a month including rent. Our savings will be around 10L in the upcoming few months and can grow as we wait for more time with 90k per month. We do not want to have an EMI more than 30k per month. What should be the total house cost, home loan amount, down payment and tenure for the loan? So far our plan is to spend 6L on down payment, 4L kept for registry and other expenses and a loan of 24L to buy a property of 30L within a tenure of 10 years.1
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