Take a loan instead of liquidating your assets

I began engaged on a everlasting foundation in September 2018. Earlier than that, I labored as a freelancer. At the moment, I’ve round 12 lakh in my checking account, 5 lakh invested in shares, 1.75 lakh invested in mutual funds and 4 lakh invested in a five-year mounted deposit. I’m planning to purchase a plot of land value 22 lakh. Ought to I pay the entire quantity in lump sum or ought to I am going for a house mortgage? I’ve plans to get married in 2-3 years. Additionally, there’s an opportunity that I’d go overseas for increased research in subsequent 1-2 years.

—Identify withheld on request


From all the main points talked about, you might have near 23 lakh and in case you use these property for purchasing the property then there shall be hardly any liquidity left at your finish. You shouldn’t liquidate all of your property to purchase this property and you might take into account taking a mortgage at this stage as rates of interest are low. The charges could not essentially stay low in future, however you might want some corpus as you’re planning to get married or go overseas for research.

Harshad Chetanwala is founder, Mywealthgrowth.com

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