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Comments for Post #C27201
Submit ConfessionGender: Male29 May 2026 at 6:39 pm
#C27201 I was born and brought up in the SB Colony Coimbatore. Most of my friends and relatives still live around the same locality. I come from a financially poor background, and during the early stages of my career, I didn’t have proper financial or investment guidance. Mostly I will invest in Gold and Land I work in IT, and during the COVID period, life became very difficult for us. We were living in a rental house with a one-year-old child, and that situation pushed me to think seriously about owning a home or land. I didn’t want to move far away because all my connections and comfort zone were around that area. During that time, finding a suitable property was very hard. Either the lands had legal issues, or the prices were beyond my budget. Finally, I found a 1,800 sq. ft. plot for ₹40 lakhs, which felt like a good deal. The best part was that it was only about 500 meters away from my old rental house. I took a loan, bought the land, and built a 4 BHK house with an inner staircase. Altogether, I spent around ₹70 lakhs on construction. But the major issue is the road width. The road is officially 18 feet, but because neighboring houses occupied part of it, the usable road is barely 15 feet. Bringing a car inside is difficult, and whenever friends or relatives visit, they have to park on the main road and walk in. The property is also in a dead-end street, though it is only around 150 meters from a 40-feet main road. Now I keep thinking about the future. What about family functions or any emergency for getting ambulance in the road or any convenience as we grow older? Sometimes I feel like I made a mistake. While constructing the house, I got an onsite opportunity and have been working abroad for the last 4 years. Thankfully, I managed to close all my loans during this period. Recently, I bought another plot nearby in the same area. This time, it is in a much better residential location with a 23-feet road. Initially, my plan was to construct a building there for rental income. But now, with the uncertainty in the IT industry and AI impacting jobs, I don’t want to take unnecessary risks. I’m confused and genuinely seeking advice. Should I: 1. Sell my current house and build a better one on the new land? 2. Convert the current house to a rental property. Is it possible to? 3. Construct a new house on the recently purchased land and move there later? I’m emotionally attached to my current home because it was built after years of struggle, but at the same time, I worry about long-term practicality and future value. Would really appreciate honest advice from people with real estate or life experience.
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Comments (12)
Not to sell the existing house as demand for pg an hostel are growing make a rental income an pay as a emi to new plot construction,
If I were in your position, I would build on the new plot and design the house around your current lifestyle and future needs. Your existing house has already done what it was supposed to do. It gave your family stability during a difficult phase of life, helped you move out of a rental home, and allowed you to build equity. That's a huge achievement and not something to regret. The reality, however, is that road access matters. A 15-foot effective road width and dead-end location will always be a limitation. It may not affect your day-to-day life much today, but over time it can impact convenience, resale value, visitor parking, and emergency access. I wouldn't expect the property to significantly outperform the broader market because of these constraints. My suggestion would be: • Construct your new home on the recently purchased plot with the wider road access. • Incorporate a rental portion into the design—either a separate floor or independent unit. This gives you rental income and flexibility without taking excessive risk. • Continue living in your current house while the new one is under construction. • Once the new house is ready, move into it and rent out the old house immediately. At the same time, keep the old house available for sale at the right price. Don't rush to sell, but don't become emotionally attached to holding it forever either. The moment you receive a genuinely satisfactory offer, exit. The capital released from that sale can then be redeployed into a more growth-oriented asset—perhaps a small plot near emerging IT or employment corridors. If your objective is rental income, consider developing compact apartments, especially 1 BHK units, which generally generate better rental yields and have a larger tenant pool. In short: build the new house, enjoy the better lifestyle, earn rental income from the old property, and eventually sell it when the market gives you a fair opportunity. Let the old house remain a successful chapter in your journey, not a permanent anchor. - Chennai Realtor
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I would advice you to hold the new construction for now and continue to stay in the current house for some time. Give it a thought and construct the new one only when you have enough funds. I would suggest you to construct multi-floor at the new site with rental income whenever you decide to do so
15 feet road will be a problem in selling or renting your house for now if you get a best rate for your current property sell it and construct a new house in the 23 feet road site if you have more money out of selling the house invest in safe investments and create a passive income all the best...
Consult a financial advisor. Your age and kids age matters. And how much extra money you have now also matters. Best advice is take only a minimal loan now due to poor IT future Visibility.
By selling your current house if you got enough money to build a building on a new plot then go for it and 1st floor as your home and other floor you can rent and and earn.. Also if some of the money you used by taking a loan then from the rent money you can also pay EMIs. Make sure the first floor is suitable for you and others for rent...
Construct a new house, and convert old house into rental property.
Don't invest in rental property. Very less return as compared to interest , You can invest money in gold and share market . Or buy land and secure it properly. Your children's will sell the land and they move to a place they like
Try to retrieve the road width to 18' as per documents by reporting to VAO
4+ cents at ₹40 lakhs at SB Colony in 2020s? 😳
Cbe girl 2 houses owner i. Sb colony worried abt car parking and asking in confession!? TVK is better then u lol
Convert current one to rental and construction on new lot and move thier, once any uncertainty comes your way in life or price increases in few years the sell the current house