New Delhi: Buying a home in India is not just buying a house or shelter for oneself, it is infact realizing a dream. Gone are the days when one would wait for a life-time of savings to mature before purchasing a house. Thanks to easy house loans, financial options, many people are realizing their dream in their mid 30s too.
However, according to Radhika Gupta, MD & CEO of Edelweiss AMC, buying a house should ideally be postponed until people are 40 years old.
Gupta believes that home ownership should be considered only after a person has reached a particular financial milestone as well as a personal and professional crossroad with a sense of mobility. In her opinion, equity locking into a property too early limits opportunities and flexibility during the most dynamic years of a person’s career.
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Gupta believes that in the Indian context, with low property yields, buying a home too early becomes easily a financial drain. She encourages people to build financial assets before buying property.
Gupta also speaks about the principles that should govern the healthy state of finances of a person. She says that a person should have discipline and consolidation of efforts to reach the desired goal. She underlines the importance of intentionally adjusting the finances and career as well as the value of constrained living surrounding the means of a person.
Gupta says that time and talent of young investors are their most valuable assets. She encourages young professionals to focus on education, upskilling and entrepreneurial activities rather than pursuing high-risk investments.
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