I feel extremely pumped & joyful today. I have conquered one of the best deals of my life & am so happy that I was able to pull it off this smooth.
1st June 2019 ticks off a big ticket in my to achieve list that I have set for myself, the feeling of buying your own house in Mumbai is so fulfilling and I am overwhelmed that one of my childhood dreams has been fulfilled to an extent & manner which i had never ever imagined.
The entire process though being laborious and frustrating (from scouting, selection, negotiation, arrangement of funds, legal processes, loan processing, agreement drafting and execution, interior decoration and so on and so forth) is worth the time and effort especially because it made me lot more wiser, allowed me to experience people whom I considered very close to me & relationships which I genuinely felt I would do anything for if they needed my help ever, demonstration of fairness in dealing and execution of steps as per set out guidelines, meeting financial commitments given to seller, designing alternate plans for funding in case if something didn’t work out as planned and so much more.. truly was a mammoth task and I feel very relieved that deal is forever inked.
Unconditional support from mom, dad and shrey in all decisions at all steps with unanimous consent to go ahead makes it even more satisfying to accomplish and pull off this deal. They have stood by all my decisions no matter what & I feel very proud in seeing them content and happy.
My dad told me on a lighter note, “You’re paying stamp duty which is 33% more than the entire value I paid for while buying my house 25 years ago.”
Many people think property prices do not have room to surge but all my life living 26 years in Mumbai I haven’t seen them going down which is a reality check. That’s Mumbai for you. Many people feel it’s beyond their means to buy a house in Mumbai with salary income, but I don’t completely agree and that even with salary income you can make your dream a reality, provided you do proper financial planning.
First house is always close to heart and memorable. I know in theory and financial wizards may think of it as a poor investment choice at this stage of life and recommend more investments in equity or mutual funds yet I think this is right choice for me. I don’t have logical reasons to support my decision nor do I have mathematical proof that it is 100% correct yet the happiness and emotional satisfaction derived is a superior trade off to holding more investments in risky stocks and SIPs with anticipation of higher returns in long term.
I am not saying real estate is the only option but having done CA and CFA, having experienced stock markets for 11+ years, futures and options et all – real estate is much safer a bet and store for value of the hard earned money that you earn. Having a healthy diversified portfolio is totally agreed but without a real estate exposure is something I wouldn’t like to personally have or recommend.
Everyone’s dreams are different and multiple with different time frames and horizon. Everyone has different circumstances and backgrounds. Our day to day routine is so tiring that hardly we get time to plan our finances and execute them properly to align to our long term and short term goals, yet doing that is essential because it makes a lot of difference. (believe me I have tested it on myself and can tell you from my experience)
#You-got-to-have-your-plan #Set-your-goals #Stick-to-basics #Only-1-life-make-it-count #Yolo #One-more-life-goal-achieved
A Staunch Believer 