Hi, me and my partner are planning to buy a house. We really dont like living on rent in apartments. A bit concerned about the skyhigh prices in Metros. We are looking for 1200 sq ft carpet area house with sufficient parking.

Is it a bad investment (4-6cr easily) ? Partners, did you buy house ? What would you advise?

Congrats dude! Man be living our dreams !

I can see you are a law student dreaming high. Bro 4-6 crore isn't something even equity partners can easily pay off. Further, house somes with maintenance charges and travel costs considering at those prices you will live away from the office.

You sure about the equity partner bit? They usually earn upwards of 2-3cr per annum, and the OP is buying with her partner, basically a combined income of 4cr+. Not tough to repay a 6cr debt.

Yes

Not all equity partners. Also the 6 cr debt is way higher than 6 considering compound interest, inflation in other costs, but a bad legal market. Ain't no partner taking that risk for atleast 2 to 3 years in this market.

However, I made the assumption of them being a pure merit couple. They could have family wealth or could've made great investments in the 2020 surge.

Seems like you are a law student yourself, you'd know better otherwise. A partner can afford a house worth 4 crores.

im a PA and no I didnt mean "afford", I meant are you wasting that much on a holiday home far from the city.

partners make 5 crore if they slog their whole lives from age of 21 to 70, so no

Bro most partners I know live in rented apartments in Prabhadevi/ Lower Parel. It’s extremely unwise to buy a property in the current economic scenario.

I agree 100%. The uncertain current scenario makes it risky even if someone can afford it, and not at the currently inflated prices. A correction is overdue.

Depends on the city you're living in and which area you're looking at.

Give more info.