Home Buyers Guide – 10 Basic Steps to Buying a House in 2021

  • Posted by: Namrata Group
  • 09th February, 2021

Buying a home is no more a luxury, it is a necessity. Buying a home can be a daunting task, therefore we tell you steps to follow before buying a new home in an apartment. Pune is deemed to be one of the best cities in India owing to its excellent climate and quality of life. People are considering Pune and suburbs for building their homes and leading a peaceful life.

Home Buying Step-by-step Process

Step 1: Plan your budget

budget planning

Before deciding on buying a home, consider your budget.  Consider how much you will need for the down payment and the bank loan. Plan your finances well in advance as it will be an ongoing expense for a period of 10 years and more.

Step 2: Decide on the location

Do detailed research on the location where you want to buy the home. Consider the malls, grocery stores, hospitals, schools, restaurants, and the distance from your workplace before finalizing any property. Most importantly study the property rates that are prevailing in the market. Consider buying a property in Pune according to your and your spouse’s office location, your child’s school, etc.

Step 3: Look out for the best available projects in that area

After finalizing the location, make a list of the available properties in your finalized area – newly built and resale. Visit each site and get the best quote from the developer. See if it fits the needs and demands of you and your family.

Step 4: Negotiate with the builder for the best price

Always negotiate with the builder for the best price and best deals. Ask for all the clauses and costs involved in buying the house. Clear all your doubts regarding the costs involved in buying the property. Ask for all the government sanctions of the property and make sure it is an undisputed land.

Step 5: Arrange all the documents

arrange all the documents

Ask what all documents are required for the land purchasing and loan purpose. Make a folder of all relevant documents and submit them to the bank and the project developer. Be it your financial statements or your government identification paper.

Step 6: Loan sanctions

Once all the documents have been submitted, banks will tell you your loan eligibility. Plan your payments – Down payment, service tax, VAT, and registration.

Step 7: Written agreement

written agreement

The next step is to sign a written agreement with the developer. It should clearly state the specifications of the apartment with all the terms and conditions – including a payment plan, time of delivery, and quantum of penalty if any party defaults construction deadline in the case of the developer and payment schedule in case of the buyer. If buying a house on the completed project, one should check the occupation certificate, fire safety equipment and mechanism, water, and electricity connection, and the property tax receipts.

Step 8: Pay your dues according to the payment plans

As and when the demand is generated, keep your funds ready and make due payments. Look out for the development of the property from time to time and keep a check on the promised timeline.

Step 9: Check all the amenities and specification at the time of possession

When you get possession of your house, make sure to check all the amenities and specifications as promised by the builder. If not, question him on that and ask him to justify the cost of the house.

Step 10: Keep a proper check and tell the builder of any issue

If you notice any problem with your house, don’t hesitate to call the builder. Remain in contact with the builder and let him know all the issues you are facing – be it seepage problem, water, and electricity issue.


It is now evident that under the process of buying a new home a lot goes in and it needs a lot of planning, thinking, and decision making. Ensure that you strike off the aforesaid points and also any other parameter that you consider is important before buying your dream home.