Things to Consider When Buying a New Home

Buying a new home is one of the most significant milestones in a person’s life. It is not just a financial investment but also an emotional one, especially in India, where owning a home is often seen as a symbol of success and security. However, the process of purchasing a home can be complex, with factors such as fluctuating property prices, varying loan options, legal formalities, and location dynamics differing across cities like Mumbai, Bengaluru, and Delhi.

To make this journey smoother, we have created a comprehensive guide to help you navigate the critical aspects of buying a new home in 2025. From budgeting to verifying property documents, this checklist will ensure you make an informed decision.

Setting a clear budget is the first and most crucial step in buying a home. It helps you avoid overspending and ensures that your purchase aligns with your financial health.

Key considerations when setting your budget:

1. Affordability calculation: Evaluate your income, savings, and existing liabilities to determine how much you can afford.
2. Hidden costs: Account for additional expenses like registration fees, stamp duty, GST, maintenance charges, and brokerage fees.

Role of Bajaj Finserv Home Loan

Bajaj Finserv offers flexible home loan options, including Fresh Home Loans, Balance Transfers, and Top-Ups, to make homeownership more accessible. With financing of up to 90% of the property value, you can purchase your dream home without financial strain.

Whether you are eyeing an Rs. 50 lakh apartment or an Rs. 1 crore villa, Bajaj Finserv Home Loan can help you achieve your dream with affordable EMIs.

The location of your property significantly impacts its value, lifestyle convenience, and future resale potential.

Connectivity and commute

Ensure the property is well-connected to workplaces, public transport, major roads, and hubs like airports. Proximity to metro stations or highways can save you hours of commuting.

Social infrastructure

Living near schools, hospitals, malls, parks, and entertainment hubs adds convenience to your daily life.

Safety and surroundings

Inspect the neighbourhood’s safety, water supply, and pollution levels. Visit the area at different times of the day to assess its overall environment.

A credible builder ensures timely delivery and quality construction.

RERA registration check

Verify the project’s RERA registration to ensure legal compliance and transparency.

Builder track record

Research the builder’s history, financial stability, and reputation through online reviews and past projects.

Quality of construction

Visit sample flats, if available, and speak with previous buyers to evaluate the quality of materials used.

Legal verification is essential to avoid future disputes.

Title deed and encumbrance certificate

Ensure the title deed is clear and the property is free from legal liabilities.

Building plan and land use approval

Verify that the building plan is approved by local authorities and aligns with land-use regulations.

Occupancy certificate and completion certificate

These documents are mandatory for possession and indicate that the property complies with legal and safety standards.

Bank approval and RERA verification

Opt for RERA-registered projects approved by reputed banks to ensure credibility.

Quick Checklist:

• Title deed
• Encumbrance certificate
• Building plan approval
• RERA registration

Choosing the right property type depends on your lifestyle and future needs.

Apartment vs independent house

Apartments are low-maintenance and offer amenities, while independent houses provide more privacy and space.

Carpet area vs built-up vs super built-up area

Understand these terms to calculate the usable area of your property. For example, a 1,000 sq. ft. super built-up area may translate to only 700 sq. ft. of carpet area.

Future expansion plans

Consider your family’s future needs, such as additional rooms or workspace.

Amenities enhance your lifestyle and add value to your property.

Basic amenities

Look for essentials like elevators, power backup, water supply, and gated security.

Lifestyle amenities

Gyms, parks, and recreational spaces improve your quality of life.

Maintenance and society charges

Evaluate the ongoing costs of maintaining shared amenities and ensure they fit your budget.

Align your payment plan with your financial capacity and possession timeline.

Key payment plans:

• Down payment plans
• Construction-linked payment plans
• Flexi-payment schemes

RERA regulations protect buyers from possession delays, making it essential to choose RERA-compliant projects.

Evaluate the property’s long-term profitability by considering upcoming infrastructure projects, such as metro lines or business hubs, and the builder’s reputation.

Your home should accommodate your family’s current and future needs.

Family size and space requirements

Ensure the property has adequate space for your family to live comfortably.

Work-from-home and school access

Proximity to schools and a dedicated workspace can enhance your lifestyle.

Community and environment

A vibrant community and clean surroundings contribute to a better living experience.

A professional inspection can save you from unexpected repair costs. Check for issues like seepage, faulty wiring, and plumbing defects.

Tax benefits

First-time homebuyers can claim deductions under Sections 80C, 24(b), and 80EEA of the Income Tax Act.

Home insurance

Protect your property from unforeseen damages or theft with comprehensive home insurance.

Avoid these pitfalls to ensure a smooth home-buying experience:

• Overspending beyond your budget
• Ignoring legal checks
• Skipping site visits
• Neglecting builder due diligence

Before finalising your purchase, ensure you have:

• Determined your budget
• Obtained loan pre-approval
• Verified property documents
• Checked the builder’s reputation
• Evaluated the property’s location and amenities

Buying a home in 2025 can be a complex process, but with careful planning and research, it becomes an exciting milestone. Take your time to evaluate all aspects, consult financial or legal experts when needed, and prioritise your long-term comfort and investment value. Bajaj Finserv Home Loans can help you achieve your dream of homeownership with flexible financing solutions tailored to your needs.