How to make my own house

[sohamkolay]

I am a student. I get a job arround 25 k so how to invest money that I can make my own house arround 30 Lakh(alos 10 or Lakh loan) in 5 7 years. The sallery shall increase with time

Please reply me

 

[Lokesh Raghupathi]

Invest in FD as of now so that you can accumulate funds for initial 20% down payment. in you case since yu are looking to buy a house for 30 L you will need to save up min 6L. Plus additional 10% to 12% for stamp duty and other registration expenses which works out to roughly 3 to 4 lakhs more. better that you save up minimum 10L unless and until you think if purchsing any house.

 

[amitvicky]

If you do SIP of 10k per month and increase the SIP every year by 10% then in 7 years it will be around 17 lakhs.
Expected return is 12%.

Use below link to tweak the numbers like investment per month and number of years.
Keep expected return at 12% to be more realistic.