Hi all I am new here, fan of this forum. I need your help my age 30, non working husbands age 33, working, salary-75000 son 3 years old no invetments in fd, policies nothing monthly exp. 25,000 we have our own house, And due to one neighbor who is creating so many problems for me, [dont know why] we took one more house costing 65 lacks and now our home loan is around 45 lacks, we r going to shift in the new house soon. the current flat will be on rent in next month or so. the rent will be around 15 thousand and the emi is 43000 PM now i am really worried how we r going to repay the home loan. Now we r thinking that buying a new house due to the neighbors was not a good decision . plz suggest me, help me.
I think you got yourself in a soup.............. You should have calculated your future before making this investment
Total Savings for PM = 75000 + 15000 - 43000 => 47000 After 6 months of EMI, you can start repaying the principal amount . Assume , you start saving rs 33000 from the above savings, you can pay every one quarter 1 lak and in a year 4 lacks. With in 8-10yrs, You can close the loan in this fashion. Secondly, if you have secondary source , you can pre pay the loans. But, once kid is growing up, your expenses will shoot up like school fees n etc. As a precaution, Working partner is always should have LIC or Life coverage . Opt for it. Kid should have child education backup plan.... Best of Luck... Dont worry. Some times secondary homes will be helpful. [FONT=Helvetica Neue, Helvetica, Arial, sans-serif]Everybody always says that I'm the girl next door, which makes me think that y'all must have a lot of weird next-door neighbors.[/FONT] Best of luck..
yeah sunita1211 you are right but there was no other option before me. I dont want to live here because my neighbor constantly targeting me without any reason. I am developing anxiety because of them
Dont worry. after 5 yrs, you can send him flowers to make him/her to become proud owner of Second home, which you were not dreaming.... The only concern here is, if neighbor is targeting you , you can move out of the problem..But, neighbor is eyeing on your property, Tenant will have tough time. You need to fix that else you may loose rent...Think about it..
Hi all We have reduced our home loan by 8,00,000. now the actual home loan amount is around 38 lacs, not 46
Great, i would suggest that you use any bonus, salary increment in future to repay the home loan as 1st priority........
