Is your dream home costing you more than money?

In 2008, Mumbai-based Sharon Alwyn Sequeira bought a Rs 22 lakh home for one simple reason: his first child was on the way, and owning a house felt like the right thing to do. It was an emotional decision, much like it is for millions of Indians.

The home loan that followed came with an equated monthly instalment (EMI) of Rs 19,000 — a daunting commitment against his monthly salary of Rs 25,000. What seemed like the price of home-ownership slowly became the force shaping every major decision in his life.