Beyond the Reels: What to Know Before Buying Your Dream Home
Scrolling through those 30-second luxury home reels might give you a rush of excitement, but after years of helping people buy homes, I’ve learned that making such a life-changing decision needs more than just a fleeting dopamine hit.
1️⃣ Annual Maintenance Costs
In metro cities, maintenance can be around 3% of the property value annually, while tier-2 and tier-3 cities generally have lower upkeep costs.
2️⃣ Loan Interest Rates
A small 0.5% increase in the interest rate on a ₹50L loan can mean paying ₹4-5L extra in interest. Make sure to compare and choose the best financing option.
3️⃣ Hidden Issues
Surprisingly, 70% of homebuyers in metro cities face unexpected repairs costing ₹1-3L. A thorough property inspection can save you from these surprises.
4️⃣ Resale Value
Properties in cities like Mumbai and Bengaluru can yield an 8-12% ROI in 5 years, while tier-2 cities offer a more modest 5-7% return. Consider this for both investment and long-term value.
5️⃣ Legal Risks
Around 12% of buyers encounter title disputes. Always have your documents vetted by a professional to avoid legal complications.
These factors are non-negotiable if you’re looking to generate rental income, and even as a regular homebuyer, they ensure better ROI and peace of mind.
Don’t let flashy reels trick you into skipping due diligence.
A home isn’t just a purchase—it’s a lifelong investment. Treat it like one.
