First-time home buyer guide: step-by-step process
Budget, loan pre-approval, legal checks and possession — a clear path for first-time buyers.
Buying your first home is one of the biggest financial decisions you will make. Start by calculating the full budget — down payment, stamp duty and registration (often 5–8% of property value), and a 2–3% contingency buffer — not just the EMI.
Check your CIBIL score early and get an in-principle loan sanction from at least two lenders. This is usually free, takes a few working days, and confirms the price range you can actually afford before you start visiting projects.
Never pay a token before title and encumbrance certificate verification. For new projects, confirm RERA registration on the state portal. For ready homes, insist on an occupancy certificate for the specific tower.
Budget for the full cost of ownership: maintenance, property tax, society charges and initial interiors. Keep EMI comfortable — ideally serviceable from one income if there are two earners in the household.
Shortlist only projects that match your confirmed budget ceiling, preferred configuration and daily commute. A tight shortlist saves months of aimless site visits.
Read loan agreement clauses on floating rate resets, prepayment charges and disbursement schedules before you sign. Small print here affects long-term cost more than brochure amenities.
Complete property mutation within 30–90 days of registration. Navigate Homes consultants guide you through lender selection, legal checks and final closure so your first purchase feels clear and confident.