Buying a house with a bank loan

[Nomad]

If you do not have money, you can borrow from banks and buy a house. House loan have longer payment time, like 10 years or even 25 years. Do you think buying a house from a loan is a good idea?

 

[Springtime]

Real estates in my location are really expensive. It is quite impossible for normal people to buy a house or apartment without taking out a mortgage loan. When I bough my apartment 15 years ago, I also took out a mortgage loan. The term is 10 years. By now, I have repaid all the outstanding amount of the loan.

 

[Fidelia]

If I see a mortgage that has favourable conditions, I don't mind using it to ensure that I own a house of my own. But it is nothing something that I would just rush into.

 

[kerryjoy]

I think it is a bad idea, what you should keep in mind is to spend what you can afford

 

[Sanjeev]

Yes, it's a better idea to take a loan and buy a home. You can always pay EMI by saving the rent before owning a home.

 

[Augusta]

I would buy a house with a bank loan. it is just to have a repayment plan and stick to it for me