Here is the snippet of discussion with a person who purchased under construction property in 2021 and called me back in May’2025

Someone wanted to buy a under construction property in 2021

He asked me about my opinion at that time
I said – No, dont buy as you dont have even 10 lacs savings

He didnot listen to me
He didnot inform me
He purchased the under construction flat and took loan and started paying EMIs

He informed me later that he went ahead and purchased the property
I said – Ok

I asked him couple of times over the last 4yrs to increase monthly investments
He always said NO – I dont have money as Im already paying home loan EMI

He called me 2 days ago
He said, Ravi the flat I took is already delayed by 1.5yrs and
It may not be ready in next 2 to 3yrs as it went into legal issues

He also said – I dont know what to do with it
I had to pay regular EMIs without fail even though Im not getting my house

He says – I want to buy another house now
I said – How much money do you have

He – not even 5 lacs
I said – then how will you buy

He – I will take another home loan and pay the EMIs
I said – but you said you dont have money to increase investments, from where you will pay the EMIs

He – I will manage
I said – Ok, why did you call me

He – to take your opinion
I said – What is the use of my opinion that I gave in 2021

He – yah, I know you told… buttttt I want a home
I said – If you had invested the same 10 lacs that you had in 2021 and did a monthly SIP for the EMI you are paying. You could have bought the house without any loans today or may be very less loan of 15-20 lacs

He – I know, what to do now
I said – Unless you want to take things under your control. Nothing will change

He – What do you mean ?
I said – How long are you willing to work ?

He – I dont know.. may be 5 to 10yrs
I said – How will you clear the loan of 1 crore in 5yrs

He – I dont know
I said – then how can you plan to buy the house if you dont have plan to clear

He – What to do ?
I said – Accept the situation that you cannot buy another home and live in rental home. Invest the money and buy when you have sufficient money for downpayment and have less loan

He – So I shouldnot buy for another 10yrs
I said – it depends upon your saving and investing capacity

He – By that time the rates will increase
I said – Rates are increasing before you are born also…. Its not new

He – Then when will I buy
I said – You already bought and see what happend

He – Ya, its not my mistake
I said – Its not about mistake, its about affordability. Today you are going and searching areas where you can afford the EMI. Im saying to go and search in places where you can do 100% downpayment and buy 💰

If there is no EMI and the financial decision that you make today doesn’t have big impact on your and your family financials over the next 20yrs, thats when you are free to buy 🏡

Summary – Buying a home is emotional and have safety and security, there is no denying for that. At the same time, one has to assess their financial situation and the impact it will have on oneself and family.

One should keep EMIs under control, otherwise even for small small requirements you may have to go for creditcard revolving credit, personal loans, hand loans. This will only increase the burden

Your Income is not yours
The money that you save, invest and grow before you spend is yours
Once the money is spent, its not yours anymore
Try to spend everything with cash… I mean 100% downpayment
If you practice, I will buy only if I have money in bank – Life will be different. It gives lot of freedom

Search around your office, friends – How many people do you see who dont have EMIs and are aged above 30yrs ?