Who doesn\u2019t dream of buying a house? It is a long-term project based on a life-altering decision to assume responsibility for one\u2019s own life. The craze of buying houses or properties has always existed in India. Most parents attach an emotional connection to purchasing a home. It is one highlight of a lifetime. However, living in a rented apartment is not considered the \u201cideal” stay and often brings along some frowned faces.<\/p>\n\n\n\n
However, buying properties blinds us to the extent that most view it as a great investment<\/a> option. People also tend to believe that buying is the same as investing. This line of thought may become a little problematic sometimes.<\/p>\n\n\n\n A problem for most buyers in India is that the country has an expensive real estate<\/a> sector. Thus home loans become the most viable option for these buyers to secure their purchase. But unfortunately, these loans eventually tie a buyer into the endless web of EMIs.<\/p>\n\n\n\n Now, if you pay this amount every month for 25 yrs, you will pay Rs 62,182,04, which is double what you had initially taken! This is because the interest amount gets added to the principal amount. Here, the total interest will amount to Rs 32,18,204.<\/p>\n\n\n\n