Introduction

Buying your first home is equal parts excitement and anxiety. From down-payment maths to paperwork, here’s a step-by-step roadmap to turn the key with confidence.

Step 1: Budget & Credit Health

Use the 28/36 rule—limit EMI to 28 % of gross income and total debt to 36 %. Check your CIBIL score; 750 + fetches better interest rates.

Step 2: Define Must-Haves vs Nice-to-Haves

Must-haves may include proximity to work or schools, while granite countertops fall under nice-to-haves. A clear list prevents emotional overspend.

Step 3: Choose the Right Loan

Compare fixed vs floating rates, processing fees, and pre-payment penalties across at least three banks. Factor in SBI’s green home concession if applicable.

Step 4: Location Research

Visit at different times of day, test commuting routes, and chat with residents about water supply, power cuts, and security.

Step 5: Legal Due Diligence

Verify title chain for 30 years, RERA compliance, and whether the property has completion and occupancy certificates.

Hidden Costs

• Registration & stamp duty (5–7 % of value)
• Society maintenance deposit
• Interior fit-out (₹1,500–2,500/ft² on average)

Conclusion

A methodical approach turns house-hunting from stressful to strategic. Download our free checklist to keep every document and deadline on track.