Not to overlook the maintenance expenses. Buying a home in India is always a family decision. So the views of all the family members will matter. The current trend is that since both the partners work,they end up taking a joint loan so the stability of marriage is a very important issue to consider. It may become a problem if the family has to separate. In the current context, this requires a hard preparation to make sure the future needs are held.

Make sure you are in a stable job before you apply for a property loan. The home loan company will dig into your credentials and study the risk involved in lending you the loan amount.If you are a frequent job hopper or don't keep well too often, you must be more watchful. Your customer profile may not go down well with the finance company. You must be able to pay the EMI and therefore professional stability will count a lot.

Also, you need to factor in any geographical change on the work front or otherwise. You may not always gel with the culture of a place, more so if you are an NRI. So cultural compatibility is a different issue. These are subtle factors but they go a long way when it comes to investing your money in a home meant to bring you security . Make sure you are prepared to handle the responsibility it brings along.

Source: [ET]