How easy is it for an NRI to buy a house in India or abroad? Which one has a longer process?
Prachi Bansal (3129 Points)
20 April 2021How easy is it for an NRI to buy a house in India or abroad? Which one has a longer process?
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 April 2021
I don’t understand why an NRI will buy a house in India when he doesn’t have one. They can buy a small home abroad first by not spending any money. It costs 100,000 probably and he can save rent equal to 216,000 for 30 years. Already some are misguided to make investments in India etc. it’s just wages every time they get, so even though it is longer to buy a home there, they make good savings. Sometimes, nri is bike, if he has a home, he can work as layman as well.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 April 2021
Even in India employees believe that if everyone has a house, the economy will collapse. It’s a myth t believe that people will not work properly, get promoted or demand high wages etc. in foreign, even if this happens they will give money to live.
Prachi Bansal
(3129 Points)
Replied 25 April 2021
| Originally posted by : yasaswi gomes | ||
 |
I don’t understand why an NRI will buy a house in India when he doesn’t have one. They can buy a small home abroad first by not spending any money. It costs 100,000 probably and he can save rent equal to 216,000 for 30 years. Already some are misguided to make investments in India etc. it’s just wages every time they get, so even though it is longer to buy a home there, they make good savings. Sometimes, nri is bike, if he has a home, he can work as layman as well. |  |
Can you explain this in more detail?
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 25 April 2021
From the concept compounding- Interest over Interest- rent over house loan.
Rent over house loan will increase more cash outflows
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