BQPortfolio: Nihar Vora Is Worrying About The Transition From His Current Home To The Next
Deciding when to sell a house to fund your next house purchase is a key decision. Here’s what to bear in mind.
BQPortfolio speaks to citizens from across India about their financial goals and helps them access expert advice on how to achieve them.
Buying a house is probably the biggest purchase Nihar Vora will ever make. He’s already paid Rs 13 lakh as down payment to lock in his second one, which he anticipates will cost a total of Rs 1.1 crore, including furnishing.
To fund the rest, he’s hoping to raise Rs 60 lakh by selling the house he’s currently residing in. And he plans to take a loan to pay the remaining Rs 37 lakh.
But amid the problems the residential real estate market is facing, Vora’s unsure whether he’ll be able to find takers for his asking price. He’s also concerned that it will take a while to find a buyer. With the next due payment on the new house looming large, he has to decide whether to start looking for a buyer for his current house before he’s ready to move.
On this episode of BQPortfolio, Harshvardhan Roongta, certified financial planner and co-founder of Roongta Securities, advises Vora on the ideal way to make the shift.
Watch the full show here: