I am 25 year old Indian in the beginning of my career i.e this is my second year after entering the workforce. I am working in Japan.
My salary does not leave much extra after my personal expenditures. But I do have a savings plan which I am investing 1/3rd of my salary every month. I do not have any student debt.
Now my parents are insisting that I buy a house in India on loan in the next year. Their reasoning is that, since I am paying for their house rent, if I could divert it to pay for the loan I can get a property in return. I understand the logic behind that. But I am scared of getting into debt so early in my career. If I commit myself like that, it might make me less independent in making career changes till I finish paying off that debt.
My question is, is it a smart thing for an entry level employee with a basic pay to buy a property on debt ? Should I wait a few more years to save up money and then think about property ?