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Should I buy land or reduce my home loan EMI

Bought apartment in chennai worth 51 lacs..paid initial payment 10 lacs.. We also have 14lacs in hand now. Can we buy a plot with the 14 lacs and sell it later for good amount and repay the home loan. or shall we pay the 14 lacs now itself including 10lacs we paid and decrease the home loan repaying years.please suggest....

Apr 28, 2016 by swapna, chennai  |   General

It makes more sense to pay off as much as possible for the apartment that you have bought and reduce the monthly EMI.

The reduced EMI will help you plan your finances better and earn superior return on the amount that you would save by reducing the monthly EMI.

In our opinion, investments in land is a bit risky and there is less transparency in the deals. The investment might turn out to be riskier and may not match with your risk taking ability and investment horizon. If you have some surplus now or in future, it is always advisable to invest in Diversified Equity Mutual Funds. Investing in Mutual Funds is the best way to create wealth in the long term. You may invest in lumpsum or through systematic way. To know more about mutual funds and its return you may check these -



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