Think a Rs 50,000 EMI is better than Rs 35,000 rent? CA explains the home loan trap many ignore
· economictimes.indiatimes.com
CA Nitin Kaushik warns that comparing a Rs 50,000 EMI with Rs 35,000 rent can hide the true cost of homeownership. A 20-year loan may cost more than double the borrowed amount after interest. Buyers must also consider maintenance, property taxes and the opportunity cost of the down payment. Kaushik says evaluating a home as a wealth-building asset requires looking beyond monthly EMI and calculating its total financial cost.
Why comparing EMI with rent can be misleading
The real cost of a 20-year home loan
Your home costs more than the EMI
Don't forget the down payment
Buying a ...