The two obvious choices are to proceed with this Mumbai apartment and keep ₹3,590,000 available, or spend less on the purchase and preserve a larger reserve. Neither is comfortable: the first may leave too little room for surprises, while the second means giving up a two-bedroom property that otherwise suits me.
The price is about ₹93,100,000. Before committing, I want to ring-fence moving expenses, service charges, the insurance excess and the initial mortgage instalment, then allow for urgent inspection items. Furniture is the one category I can postpone.
My tentative rule is that I proceed if the remaining cash can cover several months of essential spending plus identified near-term repairs. If structural, water-related or building-wide issues make that impossible, I lower my purchase ceiling or withdraw. How would others allocate the reserve, and which costs should be fixed quotations rather than estimates before making the decision?
The price is about ₹93,100,000. Before committing, I want to ring-fence moving expenses, service charges, the insurance excess and the initial mortgage instalment, then allow for urgent inspection items. Furniture is the one category I can postpone.
My tentative rule is that I proceed if the remaining cash can cover several months of essential spending plus identified near-term repairs. If structural, water-related or building-wide issues make that impossible, I lower my purchase ceiling or withdraw. How would others allocate the reserve, and which costs should be fixed quotations rather than estimates before making the decision?