Bought house by selling stocks
Hi 32M here, recently bought a floor in NCR and sold some stocks (I haven't touched my mutual funds yet). I'm taking out a loan for 60% of the amount.
My expenses are pretty low right now, just my child's school fees and current rent, which will cover half of EMI, once we move into the new house.
There won't be any additional costs after the purchase since the house is ready to move in and only needs minimal setup (around ₹1 lakh).
I can manage the loan payments without any issues, as I bought some land last year with cash and have a plot as a backup plan if needed.( This is purchased by me, not counting any family land and plots)
I'm looking for advice on whether this is a smart decision or not.
- What could have been better options if any
- Was selling stocks could have been deferred ?