Wednesday, 18 April 2018

4 QUESTIONS TO ASK YOURSELF BEFORE HOME PURCHASE



A home purchase is one of the most important decisions in life. And for making that decision, financial security is one of the crucial factors that should be taken into keen consideration.

Here are the 4 important questions that one should ask self before a home purchase.

1.    Is income enough? – Check whether your income is sufficient to manage a home loan, interest, taxes, maintenance, etc.

2.    Is my savings enough? – Analyse the funds you have and whether it is enough for down payment, legal costs, household budget and emergency expenses.

3.    Is my income stable? – Monthly income should not vary so as not to affect the EMIs and other expenses.

4.    Is my CIBIL score good? – Maintain a good CIBIL score to confirm your home loan eligibility.

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