If there is no need for a very spacious home, then you can go for a one or two BHK home initially.
Set a budget for your flat and search for that type of home accordingly.
Do Proper Market ResearchĬheck out the prevailing real estate market rate of the area where you wish to buy a home. You can compare your income to expenses and track how you spend your money. There are many apps out there to help you set a budget. In this modern era, you don’t have to do plan manually. Stick to Your BudgetĬategorize your expenses, determine how you’re spending your money, and then make a budget. For arranging the down-payment fund, start cost-cutting, avoid wasteful spending, clear your debts and maybe try to expand your income pool. First, you need to pay the down-payment on the house from your pocket, which can be anywhere between 10% and 25% of the property’s market value. Be Financially Disciplinedįinancial discipline is essential if you want to purchase your dream home. Needless to say, if buying a residential property is one of the biggest achievements of your life, you also need to avail a home insurance policy with it. Apart from that, home loan can be availed. To buy a property, first and foremost, you need to plan out your monthly budget well to save money for the down payment you have to pay from your own pocket. Millennials these days prefer investing soon in their dream home to save money they give out on rent and have a property for themselves soon.
