My Little “Dream House”

The article refers to the growing trend of unnecessary waste of money in building houses, even among the medium income groups. I know many such persons who later suffer to pull on their lives.

My little ‘dream house’

Heard that you plan to build a new house, Johnny? How do you think your ‘dream house would be?’ I threw the casual question to my friend Johnny.

 ‘I know that you might have heard about. The plan is almost ready. Of course, I would like it more than I anticipate! Some 2500 square feet in two stories, that is enough! Ancy, you know, too agrees with that. Altogether an antique look, with the walls of the sitting and bedrooms paneled in wood, and furniture and all that looking the same, just imagine how it will be! I saw several models and I opted for the one I liked most. You have seen the new house built by Stephen; this will be almost like that.

 But Johnny, you are not Stephen; he has his huge inherited property, besides his own hefty earnings in US Dollars. But you are just an accountant in a gulf company. Can you afford so much money?

Afford or not afford. Wife and I have some savings. Then there are so many banks that lent at affordable EMI. I do not look at the cost. After all, we all build house once in a lifetime’. I kept quiet. I could not put out his life’s’, desire anyway. Johnny’s dream house in the present market value would cost him more than 50 lack Indian Rupees.

 To build a house of our own is an absolute necessity. Some people like Johnny will have a predetermined plan to construct their house, by purchasing a plot of land. Some others do not like to go for all the hassles of purchasing land and building materials, employing architects and workers, drawing plan, supervising the work etc…etc. They would go for ready-made houses. In either case, it is good to determine a budget that you can well afford. In other words, it is not wise enough spent a huge some that you can hardly afford, on a bungalow just for a dwelling. At times, both you and your bungalow may collapse!

Even if you are a person who can effortlessly afford a big some, money spent on a house is a dead asset. It is unproductive, very much like money buried in soil. I know people of middle-income group, who borrowed huge sums from all possible sources, for building a house and got entrapped thereafter. Many of them were literally struggling to pay the interest of the money they had borrowed. To suffer those physical and mental traumas, even inside the comfort of your posh mansion, will not be that much comfortable. People who see the flamboyance of your new house may praise you, ‘oh, good congratulations, Johnny, it’s majestic’ and go away. They would not pay your EMI.

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