Thanks to my Mom and Dad we have a duplex house that was made beautifully and with a lot of love and affection. But the thing that has always piqued my interest while Building this House of ours was the whole FINANCE aspect of the House as we know building a house needs a lot of resources.
For Starters it took us approximately 20 years to complete our House.
Yeah, that one is big and the main reason behind our House taking so long to complete is primarily because we have built our Home at the Local Place where we were born and we stay around 600 miles away from that for work-related purposes and since we could only visit home about once a year it took us approximately 20 different visits to get our House completed. Secondarily it was also a matter of Money as a lot of Money goes into a house and we did not take any form of House Loan for it.
SO HOW DID WE BUILD OUR HOUSE
For starters, we bought the land way back in the 2000s when Land was cheap considering current prices and we started the construction by building pillars for our home. It took us approximately 4-5 years and around 7-8 lac INR to construct the ground floor which consisted of three rooms, two kitchens, two bathrooms, and a single balcony area.
It was after this step that my parents played a masterstroke which was to rent the entire house as we rarely stayed there. By doing so we were getting a Rental Yield of 8-10 percent which we once again invested back into some bonds gaining further interest.
By doing so we were making a decent Passive Income every single month and every couple of years we used to cash out all that Savings made from the Rent and use that same money to build the First Floor of our House with one component at a time.
By doing this repeated times we were able to build our house which is worth over 70 lac INR right now with just an investment of 10 lacs INR approximately. Yes, it took us a lot of time to build our home but since we weren't in a hurry to move in all was good.
I have always praised my parents for this decision as they were able to build a property worth 70 lac INR by just spending 8 lacs INR which yes if we had invested in Mutual Funds would have garnered almost the same result but we have a roof over our head and we are also getting monthly passive income from this house of ours.
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