The answer to this should be arrived at after considering the following variables:
- Do you have a steady source of income from your business or your job? Do you have a steady job for atleast the last 3 years? Is your current employer a steady profitable business or are you working with a startup or a company with a shaky future?
- Do you have a good record of paying your bills and past loans? In short do you have a good credit record?
- Do you have money saved for making a down payment?
- Do you have other expensive outstanding loan repayments and debts?
- Do you have the ability to pay a substantial amount in EMI every month plus other costs?
- If your answer was yes to the above questions then you are ready to buy an upscale property!
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