How to set your budget when buying a home becomes a priority

  • Posted by: Sahir
  • 19th September, 2022

Pune is a buzzing residential hotspot offering a range of homes for the interested. From premium to the best affordable housing projects in Pune, you have them all. A home will probably be one of the most significant single-ticket purchases you’ll ever make. Since it’s a huge financial investment, setting up your budget is the most crucial thing.

If you google ‘low budget flats near me’, there would be several projects in Pune where you may bet your money on. However, it is important to consider what and how much you are willing to spend on a property. Affordability matters when you are looking for a home. To determine that, looking at your finances will help you figure out what you can afford to buy, what monthly mortgage payment you can pay each month, and many such things.

Let us explore how to set a budget for buying your home

  • Current Savings

Whether you are eyeing a flat or a low-budget independent house in Pune, there is a certain amount you need to pay when booking a home. So first consider how big your deposit is. The more your savings are, the greater can be your down payment and the more options you will have when it comes to choosing a property.

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  • Calculate your EMI affordability

You must figure out the cost of monthly ownership of your home. Apart from the EMI of your home, you must consider other EMIs you’re paying. There are a ton of other costs and considerations along with the new EMI commencement: monthly expenditure, emergency money, etc. You will need to consider all these costs and where they fit into your future budget.



As a rule, no more than 40% of your monthly income should go into paying EMIs.

  • Home Interiors

A thumb rule while purchasing a house is to set aside one percent of the value or purchase price of your home for potential interior costs.


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  • Rent

When home buying, there is no dearth of low-cost flats in Pune, but you have to keep in mind if you are putting your money into a ready-possession home or an under-construction project. In an under-construction home, you would need to pay extra rent for the place where you would stay till the time you get possession of a new home. This rental amount will add to your monthly budget.

Also check - Low Budget homes in Talegaon: Happycity a viable Option

  • Other costs

When considering the affordability of a home, buyers need to consider the area in which it is located, the accessibility of other places from your location, and many such things. Also, a buyer must look at utility bills for the properties you’re considering.


best affordable housing projects in Pune


If you are looking to buy low-budget 2 BHK flats in Pune at a prominent locality, you may check out 32 Pinewood Drive at Hinjewadi, Pune. This new residential project in Pune offers excellent connectivity and proximity to work. Offering a host of amenities to its residents, the project is a perfect place to have your own at. There is a Clubhouse, an AC Gymnasium, and a swimming pool. The indoor games include an enclosed badminton court and Squash Court. There is a kid’s play area, crèche, a playground, an amphitheater, a yoga deck, and a meditation deck. For social interactions, there is a party hall with a pantry, a barbeque pavilion, an open-air café, a party lawn, an alfresco, and a party stage.

Click here - Housing options in Talegaon that fit into all budgets

Setting a budget is critical to the home-buying process. If you are looking to buy low-cost flats in Pune, 32 Pinewood is amongst the best affordable housing projects in Pune. Check it out before booking your dream abode.