Here are a few tips you can apply while buying your home: *It | FitRichSane

Here are a few tips you can apply while buying your home:

*It starts with awareness. Are you sure you're financially ready?
*Are you buying within your budget?
*Is your house enough to fulfill your needs, or is a little bit of ego involved?

*Try to improve your credit score for a few years to potentially get a cheaper interest rate
*Wait. Wait more. Wait even more. Increase your down payment as much as possible
*Your total EMI should not increase 25-35% of your total, secure income
*Bargain hard
*Bargain on the interest rate, if applicable
*Once you buy it, consider it a part of your consumption, and not assets. (I know some people call a house their asset, I'm not one of them)
*Research tax benefits
*Contact brokers of the area claiming to be a house seller too. It will give you a lot of insight
*Don't forget about stamp duty, registration fee, renovation costs, maintenance etc.

*If this house is going to be a very large part of your networth, consider hiring a law firm to look through the papers to avoid fraud. Though the bank your taking a loan from will do a part of this job.

*Talk to your potential neighbours
*Go to the location in the afternoon, as well as in the night to see if it feels secure

*Do not compromise on location. You can't change it later


Bonus tip:
Do an SIP in an equity fund of 10% of your EMI amount for a long-term home loan. When your loan ends, you'll end up with up roughly the price you had paid for your house.


Buying a house is the biggest dream for most people around the world.
Share these tips with the maximum number of people to help them :)