Question: Get rid of this as soon as possible.
> 3. I got 2 credit cards and soon planning to take one more to rotate > the outstanding incase i come into trouble. > 4. I currently got 0 savings > 5. I need to collect a capital of Rs. 60,000 if I have to buy a house > of my own
4 + 5 = rent, at least here in the USA.
> So what’s adviced for me… is taking a home loan adviced.. or living > in a rented room adviced. I want to be at peace no matter what. Well my > brains not working for the while as I am very very unclear about all > these fishy calcualtions…
> Pls help me.. Kindly give logical reasons rather giving rational > advices.
Answer: At least in my country, it’s not recommended to purchase property without having money for a down down payment to do so. That doesn’t keep people from doing it though.
Rent… live within your means, pay down your credit card debt, then start saving for a down payment. Don’t worry about impressing anybody but yourself in the mean time. Build a stable financial base before jumping into debt for a house.
Caveat: I have no idea about housing prices and the home loan situation, or housing market in your country. My advice oculd be totally wrong for your situation. You may want to seek local advice.
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