1. Be very clear about the reason for buying your second home Will you be staying there? Do you want rental income? Or, do you want to have it as an investment?
2. Clear off your first home loan before buying the second home
3. Check whether the repayment of the new home loan will end well before your retirement This will ensure that there is no impact on your retirement savings.
4. Ensure that your other future needs are not compromised You can't ignore other important needs like child’s higher education and marriage for which you must invest too.
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