Home Buying: What You Need to Know Before You Sign

When you start home buying, the process of purchasing a residential property for personal use. Also known as property purchase, it's not just about picking a house—it's about locking in a long-term financial decision that affects your budget, freedom, and future. Most people think it’s about the down payment or the neighborhood, but the real game is in what no one tells you until it’s too late.

Before you even look at listings, you need to understand mortgage, a loan used to buy real estate, secured by the property itself. Banks don’t just approve you because you have a job—they look at your debt, your credit history, and how stable your income is over time. In India, lenders often want at least 20% down, and if you’re under 30 or self-employed, they’ll ask for more proof. Then there’s closing costs, fees paid at the end of a property transaction, including legal, registration, and inspection charges. These aren’t optional. In Mulund, they can add up to 6-8% of the property price. People forget this and end up short when they’re ready to sign.

It’s not just money. Timing matters. If you buy during a seller’s market—like right now in parts of Mumbai—you’ll pay more and have fewer choices. If you wait too long hoping for a crash, you might miss out on low interest rates or get priced out by investors. And don’t assume a new building is always better. Older homes in Mulund often have better layouts, stronger construction, and lower maintenance costs if they’ve been well cared for.

What you see in photos isn’t what you get. A 2BHK might look spacious online, but if the kitchen is tiny or the balcony doesn’t get sunlight, it’ll feel cramped. You need to check the water pressure, the wiring, the drainage, and whether the society has a history of legal fights over maintenance. These aren’t glamorous, but they’re the difference between a good buy and a money pit.

There’s no magic formula, but there are clear steps: know your budget, get pre-approved for a loan, visit at least 10 properties, talk to current residents, and never skip the legal check. The posts below cover real cases—from people who paid too much because they rushed, to those who saved thousands by knowing when to walk away. You’ll find out what disqualifies buyers in India, how much cash you really need beyond the down payment, and why the cheapest house isn’t always the best deal. This isn’t theory. It’s what people in Mulund have learned the hard way—and how you can avoid their mistakes.