Dear Experts,
How much loan to take to buy property if I can pay mostly from my savings? What is a better strategy - keep my savings in tact and take maximum loan, or take keep loan obligations minimum (after having fund for exigencies of course)?
Among other factors I can think of, I know other borrowers who got loan on same property (from SBI). I do not consider myself a savvy investor to be able to earn higher returns on my savings than what interest I will pay for loans. Also I think tax exemptions on loan interest is adjusted as interest on my savings will be taxed at highest bracket. Considering above, it seems to me best strategy is to keep debt as less as possible.
But there are other factors I am missing? Thanks in advance for your valuable inputs.
Regards,
Das
CAclubindia
