Pros and Cons of doing 5% down payment for home purchase

[Kootami]

1 hour ago, Sonu_Patel said:

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

Nadi peddadi antey Nadi peddadi ani chupinchukodaniki

[Kootami]

Intha ki neku Melissa lo illu dorikindi ? 

[Sonu_Patel]

45 minutes ago, CherryGaru said:

 eventhough having the capability. 

This is not true.. They do not have capability or financial knowledge.. They just want a house !!

peer pressure 

[Sonu_Patel]

41 minutes ago, Kootami said:

Intha ki neku Melissa lo illu dorikindi ? 

still thinking

[Oscar_Buddodu]

3 minutes ago, Sonu_Patel said:

still thinking

[Ravi860]

4 minutes ago, Sonu_Patel said:

still thinking

Bro rates coming down slowly… builders will start their tricks to increase base prices again 

watch out 

[kiran1012]

15 minutes ago, Sonu_Patel said:

still thinking

GP, thinking is always good for big purchases/investments. No one will help financially monthly if you are in trouble.
 

 

[Baangaruu]

[k2s]

2 hours ago, Sonu_Patel said:

why most desis do 5% down payment and buy homes with higher price ? is it lack of proper planning or intentionally not paying more down eventhough having the capability. 

unlike other non desi friends bought comparatively bought homes with less price and paid more down payment ~40%.

why ? why ? why ?

 

It is difficult to make a generalization about why "most desis" do a 5% down payment when buying homes with a higher price. There may be a variety of factors that contribute to this decision, such as cultural values, financial circumstances, or personal preferences.

Some desis may prioritize investing in other areas such as education, business ventures, or supporting family members, and therefore choose to put less money down on a home. Additionally, some may not be aware of the long-term financial benefits of a larger down payment and the potential savings on interest rates over time.

It is important to note that this behavior is not unique to desis and is not necessarily indicative of a lack of proper planning or intentional negligence. Each individual's financial situation and goals are unique, and it is ultimately up to them to decide how much they want to invest in a down payment.