2) Invest in short term and long term investments:b Short term for paying the down payment. It is advisable to keep these investments with flexible option of liquid cash. Long term to consider the inflation and also to pay the heavy EMIs in case of emergencies in later years of repayment of home loan.
3) Assess critically your financial condition: Dreaming of a big bunglow may be good but do you need the bigger house and is the financial position so strong to repay the large sums of EMIs every month.
4) Critically analyse your area requirements: Which area flat will be suitable for you and which rates per square feet are affordable within your budget.
5) Latest amenities like club house and swimming pools: I have personally observed swimming pools in later years become dumping trash bins! do you lead a life style where you use such amenmities. Otehrwise they are a waste and you pay more every month for this . Even after the purchase you keep paying maintenance for these amenities.
6) Other expenses: Very very important. Home loans are not the only expenses. Always keep in mind that life goes on. Taking a loan does not stop you from basic expenses which are compulsory like food, clothing, entertainment and so on and so forth! Also if starting a family then these expenses will also add up in the monthly expenses.
7) Other loans: It may be possible that you have gone in for a personal loan during renovation, or maybe a car loan for a preowned vehicle. Keep an account of these loans and always remember that taking a home loan or any othe rloan comes to a much higher figure with added interest amount.
It is most advisable to keep the habit of taking loans to the minimum and only when required. Also try to bring the loan amount to the maximum lowest possible for easy repayment of home loan.