FUNDS

Easy accessible to housing loans have made it easier for many to buy property. However, you need to arrange a certain sizable amount to finance the upfront advance payment.The margin money, payment registration charges and the brokerage charges -all these come up to the 40 per cent of the total value of the property.Therefore, it is advisable to start accumulating required funds six months in advance.

BUDGET A

budget helps in segmenting the available options. As a thumb rule, you should consider purchasing a property that costs six times your stable annual income.

GENERATE THE MARGIN MONEY

Liquidate a small and long term saving. Sell some assets such as gold to meet the requirement.

HOME LOAN SCHEMES

It is important to choose a right home loan scheme. It is advisable to invest by comparing with those who have already invested, by taking a home loan to addition in exploring the various on-going schemes.

EMI PAYMENT

One should be very regular in paying EMIs (Equated Monthly Instalment). A home loan instalment or EMI is a monthly flow of cash from your bank account. For a long term, you should make an appropriate plan and prepare for the EMI.In recent times most of the loan schemes have a floating interest rates.