I desire to own an apartment. Towards this, I have already made part payment to a housing society. Rs. 5,00,000 is paid and Rs. 8,00,000 remains to be paid. Only after the complete payment, I shall get the title to the apartment. If I do not make the remaining payment, I lose the money which I have already paid.

At this time a friend comes up with a proposition to sell his flat which is as good as the first apartment. He is going abroad for an assignment of a long duration and would like to sell the flat for Rs. 7,00,000. But if I buy this, I shall lose Rs. 5,00,000 which I have already paid for the apartment.

Should I stick to my original apartment or buy my friend’s flat?