Identify your budget for buying your first home.

Q: How to set a budget to buy your first home, in order to make the process manageable and enjoyable?

Bhuvan, Delhi-NCR

4th September 2015

Buying property in Delhi

home loan

property tax

emi

buying property advice

property budget

buying home

utility bill

Follow Discussion

Also see discussions for

Delhi Buying property Buying property in Delhi

Replies (8)

Hi, You must consult a real estate developer to discuss your requirements. He will let you know the budget that you should go for.

Vaishali Negi,

18th September 2015

Comment

Hi Vaishali,
Any thought who might actually help me? Can you refer me any good builder?

Bhuvan, Delhi-NCR

22nd September 2015

Dear Bhutan ,, It is most difficult to measure your finance well , what ever you save looks like small and insufficient when you finalise any property option,,,,we do help in financial planing and property search ,,, so kindly leave your details , so that we can help you out,,

Best Regards
Ankit Sharma

11th September 2015

Comment

Hi Ankit,
I am a first time property buyer. I am planning for investment. I want to know which project is suitable for investment? I am looking for a under construction project, possession should be between year 2016-2017 Share some information please.Thanks

Asis Kumar, Delhi

16th September 2015

Book you dream home in L-zone Dwarka@4.5 lac with Crystal Residency By KAMP DEVELOPERS, promotors of REVANTA MULTI STSTE CGHS LTD. remaining after start of construction.

Birendra Patel, Gurgaon

7th September 2015

Comment

Hi,
Are you an real estate agent Register/Login at Agents Login to get matching buyers and tenants.

Ananya,

16th September 2015

Dear Investors @@@@@@@

I can see that there is much emphasis on investment in L zone and as the market is reverting to L zone this would be upcoming and best place to invest. Following are the key points which will give hype to the area :
1. Proximity to Airport
2. Proximity to Commercial Hub Gurgaon
3. Delhi Pincode
4. Diplomatic Enclave
5. Dwarka expressway
6. Close proximity to Existing metro station Dwarka 21
7. AIIMS 2 in vicinity
8. Well connected with upcoming Major roads.
9. Prices per square foot already reached to 10500 in Dwarka and 11000 in gurgaon

Now things to keep in mind before investment:

1. Time frame for investment should me more than 5-7 Years
2. registerred society,check proper documentation and registry paper of land
4. Consult a reputed property consultant to save yourself from False commitments.

bhuvnesh, Apartment Resident, Gurgaon

5th September 2015

Comment

Reputed welfare society Revanta Multistae CGHS ltd launched luxuries apartment Revanta Height in L-zone@3000/sft.

Birendra Patel, Gurgaon

7th September 2015

For more information click project link Mantri Celestia @ Gachibowli, Hyderabad

Syed Ali Khan, Hyderabad

5th September 2015

Comment

bhuvnesh, Apartment Resident, Gurgaon

4th September 2015

Comment

First you have to consider all your current expenses. This will cover your savings, EMIs etc. When you make up a list of all considerable number of reasons why you spend so much money, then you have to subtract it from your salary to perceive the amount of surplus you have consistently. Once you finalize it, then you will understand how much you can spend every month towards your new home.

V. Victor,

4th September 2015

Comment

Most of the banks in India will tell you to pay 20 percent of the property cost before they provide you a home loan. You have to check if you have this down payment money quickly accessible in your savings, or you have to get it through different method like taking a personal loan.

david.m,

4th September 2015

Most importantly when we talk about loan, we must know about our financial backups. If you have any property in your name, you can keep it as collateral & take a loan from bank. While taking a home loan you need to repay your interest as well as principal by EMIs (equated monthly installments). The EMIs you have to pay for your loan, should not exceed more than the quarter of your monthly earnings.

harshidhi,

4th September 2015

Suppose you took a loan & you have to pay a huge amount as EMI. then it will be quite hard for you to run your family. You have to decide as per your monthly income, how much you can take a loan & how much EMI will be safe for you. You can calculate & decide as per your income, how much loan is suitable for you. There are many upfront costs related with buying a home.

Veena K,

5th September 2015

Apart from down payment, registration fees, legal fees, processing fees and other such expenses you have to think about. Suppose you bought a house which needs massive repair before you can move there, then you have to add all of these expenses into your accounting. Property tax & other expenses are all part of large amount of money associated with having a home.

Sujan Mitra,

6th September 2015

Suppose you are thinking to rent out your property, then monthly rent will be an income for you; although, when it comes to registering the rent deed or giving commission/tip to the real estate broker/agent, you have to pay from your pocket. Anyway money will flow from your pocket. You want your property to earn for you, but for this first you have to pay from your own pocket though.

Bulbul Verma,

7th September 2015

Double your investment within a year with KAMP- CRYSTAL RESIDENCY in L-Zone.Dwarka,New Delh,i stone through away from Central Delhi next to International Golf course. Investment start@ 4.5 lac only. Call- +91 9599928607

Birendra Patel, Gurgaon

7th September 2015

Reputed welfare society Revanta Multistae CGHS ltd launched luxuries apartment Revanta Height in L-zone@3000/sft. call 9599928607

Birendra Patel, Gurgaon

7th September 2015

One major point to think carefully is the costs which will go away at the time you will move from a rented house to your own house. You do not have to pay money as the rent anymore, and you will get back your money that you paid to your house owner as deposit. In some locations land lord will ask you to pay 10months advance as deposit, which is a huge cash.

Vinu S,

8th September 2015

When you will know about the budget for your home, then you should search for such a property with that certain budget as an upper limit. This will help you in the emotional aspect of house-hunting, after all it is better to understand your budget in advance, instead of liking a house and then realizing that really you are unable to afford it. Which will put you in a awkward position.

Kalki K,

9th September 2015

Hi Bhutan,
It is obvious that when you will decide of buying a property, you have to go through many obstacles. One of them is finance. It is like most common but major problem for all. There will be many doubts or questions strike your mind when you will think of a certain budget. Most first-time buyers see the financial aspect of the transaction as more nerve-wracking than enjoyable.

harshidhi,

4th September 2015

Comment

As per my knowledge, Need , Desire & Demand, the most basic things, you should consider about. What is your need?It will cover configuration(BHK), purpose. Desire means your capability to buy the property. Demand means which locality will suite you & what are the facilities you want as per your budget.

kamakhya,

4th September 2015

Reputed welfare society Revanta Multistae CGHS ltd launched luxuries apartment Revanta Height in L-zone@3000/sft. call 9599928607

Birendra Patel, Gurgaon

7th September 2015