26 Apr 2009

Home in Mumbai

I have been keeping it off now and then, sometimes taking it seriously and sometimes just for fun. With the changes in land prices in Mumbai, people are buying homes while some are still planning for the right moment, like me. Until recently when a colleague of mine bought a 1 BHK in Thane, i was on the other side of the belief, still thinking about bank balances. However i realized again that its the best investment one can do in Mumbai. In Mumbai, it does matter a lot where home is located, most people prefer homes near bus or railway stations, the lifeline of Mumbai. With all things kept into mind, i have thought, dreamt and overlooked into the very idea of buying a home.

The search is not on yet, i am still keeping my options open for the moment. Even if i have to take home loans, i still need to chip in at least 10-15% of the remaining amount. Morever, just buying a home isn't enough, i need to have money for setting up things. I do not want to buy just a house, but a home, without haing much impact on my pockets. So i guess no more frequent parties and late nights for me, unless someone offers me without expecting the same from me LOL.

I guess i will have to plan from now onwards, draft it and follow it strictly. I need to raise at least 10 lacs i guess before i apply for a home loan! Thats a hefty amount i guess! I need to streamline my thoughts, emotions; think about my parents back at home, discuss with them and all. After all, it should be worth the money, for which i need to make a list of i have to make and ask myself if i am ready for it!! Engaging a broker or looking for a home right now will be stupid as it will take time for me to raise that amount of money, say 3-4 years!! Now that it has got into my mind, i need to prepare myself with the thoughts and be ready to abide the same, time and beyond. I am excited at the moment and confused maybe, shifting one foot to another; biting nails, mapping my needs and priorities against those of others who depend directly or indirectly on me. But yes, i guess i am ready for the moment, to accept the challenge and go ahead to buy a home.

I need to first come out of the dream, make myself understand what i need in life and what i really wanna do. Committing or 20-25 years on a home loan is a big thing, besides recession and job insecurities. I guess it come with the age..i mean commitment. So no great news from my side at the moment other than this thought of mine.All i can say, right at the moment is, lets watch and see... and wish me luck!


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