NRI Buying a house .

How easy is it for an NRI to buy a house in India or abroad? Which one has a longer process?

Replies (4)
Quick Summary
This discussion explores the complexities and considerations for Non-Resident Indians (NRIs) looking to buy property. It questions the rationale behind NRIs purchasing homes in India when they might not have a residence there, suggesting that buying abroad could offer financial advantages like saving on rent. The conversation also touches upon the potential economic myths surrounding homeownership and the financial implications of rent versus mortgage payments.

I don’t understand why an NRI will buy a house in India when he doesn’t have one. They can buy a small home abroad first by not spending any money. It costs 100,000 probably and he can save rent equal to 216,000 for 30 years. Already some are misguided to make investments in India etc. it’s just wages every time they get, so even though it is longer to buy a home there, they make good savings. Sometimes, nri is bike, if he has a home, he can work as layman as well. 

Even in India employees believe that if everyone has a house, the economy will collapse. It’s a myth t believe that people will not work properly, get promoted or demand high wages etc. in foreign, even if this happens they will give money to live. 

Originally posted by : yasaswi gomes
I don’t understand why an NRI will buy a house in India when he doesn’t have one. They can buy a small home abroad first by not spending any money. It costs 100,000 probably and he can save rent equal to 216,000 for 30 years. Already some are misguided to make investments in India etc. it’s just wages every time they get, so even though it is longer to buy a home there, they make good savings. Sometimes, nri is bike, if he has a home, he can work as layman as well. 

 

Can you explain this in more detail? 

 

From the concept compounding- Interest over Interest- rent over house loan. 

Rent over house loan will increase more cash outflows

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