Is ₹1,503,000 enough cash to keep after buying a ₹33,820,000 condo?

[sanna_rates]

We need to decide whether to proceed with the condo or give ourselves more time to save. The trade-off is that the mortgage appears manageable, but the remaining cash may have to do too many jobs at once.

The purchase price is ₹33,820,000, and we expect to retain around ₹1,503,000 once the upfront purchase expenses are covered. That money would pay for the move, essential furniture, the insurance excess and any urgent work not fully revealed by the inspection.

The fact that would change my answer is whether this balance should also serve as our ordinary emergency fund. If it is separate, we could protect a repair reserve and furnish gradually. If it is all the cash we would have, delaying may be more sensible. How would you account for the first mortgage payment and recurring condo charges when setting that protected amount?

 

[findTheSignal]

I wouldn’t delay solely because that figure sounds small relative to the purchase price. I’d first separate genuine emergencies from optional spending. Keep a protected amount for mortgage payments, service charges, insurance excess and urgent repairs; use only the remainder for moving and furniture. A furnished home can happen gradually. If ₹1,503,000 survives that split, proceeding could be reasonable.

 

[cooksAndView]

What does “mortgage payment remains comfortable” mean after all recurring condo costs are included? Service charges can change the monthly picture, and the first mortgage payment may arrive while moving bills are still landing. Also, does the ₹1,503,000 sit entirely outside your normal emergency fund, or is it the emergency fund? That distinction would decide it for me.

 

[kit_reese]

I’m more cautious than maria. An inspection reduces uncertainty but doesn’t prevent an immediate appliance failure, water issue or building-related charge. If buying means treating the whole ₹1,503,000 as both furnishing money and emergency savings, I’d delay—or move in with almost no furniture purchases. Comfort with the monthly payment does not solve a cash shortage in month one.

 

[DirectCairn]

Before deciding, write three short lists: costs due before or around the first mortgage payment, essential items needed to live there, and expenses that can wait six months. Then add the inspection findings individually rather than one vague “repairs” allowance. Confirm when service charges and insurance are payable, and what excess you would carry. If the untouched reserve still covers a plausible bad month after those known costs, proceed; if not, postponing is buying flexibility rather than just accumulating more furniture money.