I'm not really sure if people here are being serious. You are graduating as a Computer Science Engineer and instead of trying to venture different avenues, you seem to be thinking of obscure things like buying a house. I'm not sure how the financial condition of your family is, but, given that your parents are both teachers, you should be able to sustain for yourself if you choose to do a Masters. Something which further confuses me is that you are planning to take a job as a server administrator rather than trying to learn more about Engineering, Software, Systems, Networks, etc.
Something which further irritates me is that you consider teaching as a backup job, you being a family from teachers should respect the fact that teaching is one of the most important professions for this country, incompetent teachers are the reason we have students who learn more through rote rather than, understanding to practical applications of the material we read.
Let me list down the benefits of doing a masters from an IIT/IISc/IIIT
1> Broaden your horizon! Did you study subjects like Design and Analysis of Algorithms, Operating Systems, Compiler Construction, Networks, AI, Distributed Computing? At an IIT you would have professors who are at the forefront of research in these topics, if you actually study the statistics, there are a greater number of Masters students at an IIT than bachelors students, including MTechs, MS by Research, PhDs, MSc and students in the final year of a dual degree.
2> Learn the application of what you study, most tier 2 engineering colleges are still running the Borland C++ compiler. At any IIT you will truly understand the nitty gritty of Computer Science, you will learn to appreciate the Math behind it and how important it is for us today to optimize the algorithms that we use.
3> Research - IIT/IISc/TIFR are at the forefront of CS research in India, the labs and the projects that are done here simply amazing.
4> Placements - If you spend your time meticulously preparing for the GATE and really learning at IIT, I'm sure you will get a job at some of the best companies Google, Microsoft, Intel, Yahoo, Amazon, etc.
Currently, most companies are setting up amazing R&D centers in India, be it Microsoft, VMWare, Amazon or any other company. There is a need for engineers who are ready to solve tough technical challenges, people who are ready to work on open ended platforms rather than just develop applications.
Lastly, I must say that you should remove your preconceived notions and read more about what a Masters degree entails.
Read the answers here
http://www.quora.com/Indian-Institu...s-it-like-to-attend-IIT-as-a-graduate-student
PS : I am not studying at any of the colleges mentioned above.