BQPortfolio: Why Chinmay Bindal’s Plan To Buy A House With His Brother May Not Be A Good One
BQPortfolio speaks to citizens from across India about their financial goals and helps them access expert advice on how to achieve them.
Chinmay Bindal, a 23-year-old working in Chennai, is keen on buying a house in partnership with his brother in five years. The house they have identified is a bungalow in their hometown Indore and it will likely cost Rs 4 lakh.
But Bindal is not sure whether he would like to move back to Indore in the near future, or even once he buys the house. In the initial years, he intends to treat the house as an investment, which will also earn him rental income.
Also, he’s unsure about real estate as an investment option and about buying a property jointly with his brother. He’s wondering whether equity would be a better wealth creator over the long term.
On this episode of BQPortfolio, Kiran Telang, certified financial planner and SEBI-registered investment adviser, spoke to Bindal about his goal and the possibility of him and his brother buying a house each.
Watch the full episode here: