Invest young

Investing in your 20s may sound boring, but starting young is the best way to get ahead. And for 27-year-old Anurag Shastri, it offered the chance to set himself up for life.

With his father encouraging him to invest young, Shastri began his search for a home in 2015. "Dad sat me down and told me that it was time to plan my life and invest my money rather than keeping it in the bank. Since most of my family has invested in property, I decided to do the same as it provides good returns and a house would mean my own personal space," says Shastri.

With that in mind, Shastri did his research, visited banks, enquired about loan amounts he would be eligible for depending on his salary package, the terms and conditions and EMI among others. "I wanted to ensure that I would have enough in hand for my expenses after paying my monthly EMIs," adds Shastri.

Once he zeroed in on a place, which was close to his parents' home, he started pooling in money for the down-payment. "I was looking for a place in proximity to the Kandivli station since all the places I have lived before were close to the station. So I decided to invest in a flat in the same building my parents lived. My dad helped with putting the capital together, and I used my investments; I would save almost 60-70 percent of my salary over the years," he says, adding that the down-payment - Rs 25 lakh – was paid by himself entirely.

Since it was a ready-to move-in apartment, it took him six-eight months to complete all the formalities. "We even got a good discount from the builder since we already had another house there. My dad was a big help with the whole buying process. He ensured that I accompanied him to the appropriate offices so that I get the hang of the nitty-gritty of buying a home," he says, adding that investing in a home is a wise investment.

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Source:magicbricks.com