Things To Know Before You Buy Your Dream Home

It is believed that buying a home in India is much of an emotional decision than a rational one. Many end up paying equated monthly instalments (EMIs) for over 20 years. Though they end up owning a house, they will have little savings left during the retirement. To make a sound judgement and right choice, here are a few expert advice:

• Buying a house is not the ultimate aim in life. There are many other goals in life that need to be achieved.
• EMIs must be less than 50 per cent of your income. If they go past this mark, it becomes difficult to repay.
• Do not invest all your money into buying a house. One needs to take into account the uncertain situations. An investment must not become a burden later on.
• If the property rates are high and so are the interest rates, it is always wise to wait for them to come down.