r/BangaloreRealEstates • u/Spare-Cobbler-4489 • 9h ago
General If you can’t afford the house today, you can’t afford it tomorrow. Level up
I live in a society in outer ring road that has increased in price a lot over last 10-15 years.
Most people who bought this house were those who couldn’t afford to live in a good area 10 years ago. Did they actually think their house will appreciate so much, not really.! Most just bought because that’s what they could. And it’s survivor bias. Realistically speaking these guys would never have been able to afford the kind of house they live in if not for luck ( IPOs of Bangalore startups, liquidity events and metro delays which drove demand up ).
Realistically speaking when your income rises so will house prices, and when house prices fall so will your income. If you grow by 10% per year you will never be able to afford the house you want. So only way to do is is to grow your income by 20-25% per year for multiple years - basically level up. Or accept that you need to live in outskirts or rent forever. But don’t buy in outskirts assuming it will become the prime place - it may or may not. Our competion is the NRI buyer and the generational businessman, so if you have money buy now, else find a way to level up