Should i buy expensive home or a cheaper apartment or continue renting?
1. I am renting a 2 bhk and pays 1400$ as rent.
2. i am from india and lives in usa. salary is 88K. if i invest in real estate in india, the returns are very good.
3. as per my calculation, in five years, i will spend around 80K in rent.
4. i am willing to buy a condo, so that in same monthly rent, i can live in a spacius place, build some equity.As i said i dont want to spend more than 1500/month in loan, taxes, pmi etc.
5. When I buy a condo or apartment , I want to put very very litlle in down payment. because i want to spend that money in india for better returns.(40-50%/year)
renting surely does not make any sense. now
Should I buy a 2BHK apartment in about 140K. the monthy expences will be around 1000$. send rest to india.
Should i buy 270K condo. the monthy expences will be 1700$. this will be more like living a 2 bedroom apartment on rent. so no exra saving to send money to india.
what should i do?