What Is Property

"Our houses are such unwieldy property that we are often imprisoned rather than housed by them."

Henry David Thoreau

This is one topic probably which is too close to our hearts. It is an emotional decision for many rather than an investment one. If you ask any fresher what his/her financial aim is, the reply, in the majority of cases, will be "to buy a house".

Various factors have stimulated this thought for too long. Especially seeing how prices in metros skyrocketed over the last decade, it has given this illusion that buying property is the best investment you can do.

The logic is the same- be it residential or commercial property. The majority of the time, investment is done without due diligence hence affecting your investment and your savings.

The majority of people are not even bothered to look elsewhere to invest money even if it gives higher returns.

Since people have diverse reasons to buy property, there will never be a right answer. But what matters is that the decision should be a mathematical one, not an emotional one.

For some, it is an emotional investment. For others, it is a trend (if my colleague has brought one, I should too). Some think it is the safest investment. Some simply don't know how to invest and listened to their distant uncle who told them to buy!

So before you lock a major chunk of salary into EMIs for THAT house, do an in-depth analysis to ascertain whether you should buy a property or not.