Is “buying” A House In India Worth It ?

Why not wait to buy a house when you are sure you will use it regularly? Cities are also changing rapidly in India and what looks like a great convenient neighborhood today may not hold true a decade later.

 

Experts say that real estate in India is on hibernation for the next 3 years due to covid. Beware! The correct market value can’t be predicted and I would suggest you to wait.

 

I feel the same way.

 

We always wanted to settle in India.so we bought apartment in a good community and rented it out..There are property managers who will help with all tenant related things with minimal charge. But if no plans to settle ,buying a house , maintenance etc is a headache. For us ,rent is a secondary income which we divert to kid's tuition fee.

 

I don’t know about rental. Never rented mine. What I have heard from my friends who rent out their flat in India is that unless you have a reliable person taking care of (in her case her dad is solely responsible) the house, it is hard to manage from distance.

 

Rentals can be great or they can become a headache. If you are unlucky enough to get a problem tenant who doesn’t pay or worse still, refuses to vacate then it can become quite the nightmare. My parents rent out the upper floor of their house and had one family who liked it so much that they refused to move when the space was needed for our own family member. It became quite the ordeal to get them to leave and they didn’t pay the last several months of rent out of spite. So unless you really have to do it renting can be a mixed bag.

 

So far we had 6 tenants in 12 yrs.most of them were ok except one..this young couple's dog damaged many things in our apartment..like chair ,cane cane furniture ,plywood cupboard etc ( ours is a fully furnished one).We had clear cut rental agreement and we reduced the amount for the damages from the deposit. Another tenant wanted a different paint and we asked them to paint whichever color they want with their money.
Most of the repair work they approach apartment association and get it done and we usually agree with the amount once the bill is sent thr watsaap.
Rest we had amazing tenants who kept our apartment clean ..I usually give to couple with small babies Reason they keep the house clean for babies and usually has a maid to clean the bathroom etc