Anyone else terrified of taking a home loan even though you can technically afford it?
I'm 25 and earn around ₹10 LPA. I'm looking at buying a 1 BHK for around ₹60 lakh from a reputed builder. I have about ₹10 lakh saved for the down payment, so on paper it seems possible.
The thing is, growing up, my family never owned a home. Living in our own house has always been my biggest dream, but it's also what scares me the most.
My biggest fear isn't the EMI itself—it's what if I lose my job tomorrow? How do people deal with that thought? What if I'm unemployed for a few months? Who pays the EMI then? I don't really have a financial safety net apart from my own savings.
I know people say "don't worry, you'll get another job," but taking on a 20–25 year commitment feels overwhelming.
Has anyone here bought their first home with a similar salary? How did you get over the fear? Did you ever regret taking the loan, or is this anxiety something everyone goes through before buying their first house?
I'd really appreciate hearing real experiences rather than just financial calculations.