10 Essential Tips for First-Time Home Buyers in India

Why First-Time Buyers Need a Game Plan

Buying your first home in India is a dream for many — but it's also one of the most complex and high-stakes decisions you'll make. From decoding loan jargon to filtering fake listings, a smart strategy can save you lakhs and months of stress.

At Move360t, we help buyers like you navigate the real estate maze with confidence. Here's our handpicked checklist to guide you from search to signature.

1. Know Your Budget Before Falling in Love with a Property

Use the 30-40-30 rule:

• 30% savings for down payment

• 40% of income for EMI (maximum)

• 30% buffer for emergencies

Don’t just plan for the home cost — account for stamp duty, registration fees, legal verification, and GST (if applicable).

2. Check Your Credit (CIBIL) Score First

Your CIBIL score (preferably 750+) plays a critical role in securing home loan approval and better interest rates.

Check your score at CIBIL — it's free for the first time.

3. Get Pre-Approved for a Loan

Pre-approval not only speeds up the process but also gives you stronger negotiation power. Compare rates and processing fees across banks like SBI, HDFC, ICICI.

4. Choose Only RERA-Registered Projects

Whether you're buying from a builder or an agent, ensure the project is registered under RERA to protect your legal rights and avoid delays.

5. Use Verified Real Estate Portals

Avoid scams by sticking to trusted platforms with verified listings. Always cross-check details via a phone call or site visit before making decisions.

6. Location Matters More Than the House

Your property value is tied to:

• Connectivity (metro, highway access)

• Schools & hospitals nearby

• Upcoming infrastructure or Smart City plans

Even if the flat is perfect — a bad location can ruin ROI.

7. Hire a Lawyer for Legal Verification

Before signing anything, verify:

• Property title deed

• Encumbrance certificate

• RERA documents

• Tax receipts & sanction plans

8. Know the Hidden Charges

Your EMI is just part of the cost. Add:

• Stamp duty (5–7% depending on your state)

• Registration fees

• Society maintenance

• Parking charges

• Clubhouse & amenity fees

9. Understand Tax Benefits (80C & 24b)

First-time buyers in India can claim:

• Deduction of ₹1.5 lakh under Section 80C

• Deduction of ₹2 lakh under Section 24(b) on interest

• Consult a tax planner or CA to structure this properly.

10. Don’t Rush, But Be Ready to Move

Good homes go fast, especially in top-tier cities. Do your research, get pre-approved, and have your documents ready so you can strike when the right deal appears.

Final Thoughts

Your first property purchase is more than a transaction — it’s a turning point in your life. At Move360t, we’re committed to bringing you clarity, credibility, and confidence in every real estate decision you make.