Buying a house early on can be a huge mistake

Alok Kumar Jha and wife Amrita Jha, both 32, were keen on investing in real estate back in 2017. They set out a budget of Rs1 crore for this investment but planned to fund it by taking a hefty amount of loan from their employer. "Both of them work for the same bank in Bhopal and their employer offered loans for the purchase of real estate; so they decided to book a flat in Navi Mumbai," said Melvin Joseph, Sebi-registered investment adviser and founder, Finvin Financial Planners. "Their job is subject to frequent transfers so it was not a good idea to make a purchase in a faraway city." When Alok visited Navi Mumbai to finalise the deal, he felt like he wasn't organising his money well. "I read ab

This article was originally published on December 03, 2018.