Answer by Raj Khosla, managing director, MyMoneyMantra.com. Covid-19 is a true black swan event and uncertainties continue to linger.
It is important to make informed money decisions while protecting adequate liquidity for emergency use. First up, you should evaluate your cash flow requirements for short, medium and long term goals prior to making a borrowing decision for investment purposes.
Currently real estate market is buyer-centric. If you had wanted to buy property for self-use, you could certainly go ahead with the property purchase option and lock the best interest rate offer.
However, with an existing home loan EMI to serve, you should refrain from aligning surplus funds for the purchase of additional property and escalating