Buying a home Money Checklist

I know the full cash needed upfront, not only the down payment. Check 01

Why this matters

Registration-related costs, moving, repairs, furnishing and other immediate expenses can materially reduce the cash left after purchase.

My emergency reserve will still exist after the upfront payment. Check 02

Why this matters

Using nearly all liquid money for the purchase can leave the household exposed immediately after taking on a large EMI.

I have tested the EMI against my household’s take-home income and existing EMIs. Check 03

Why this matters

The lender’s approval answers a lending question. Your own calculation should answer a household cash-flow question.

I have checked what happens if the borrowing rate is higher than the initial rate. Check 04

Why this matters

For a long-tenure loan, a rate change can affect EMI, tenure or both. A simple stress test shows whether the plan has room to absorb change.

I have compared loan offers beyond the headline interest rate. Check 05

Why this matters

Compare rate type, fees, reset terms, prepayment conditions, insurance bundling and total repayment—not just the first EMI quoted.

The property and transaction documents will be independently checked by an appropriate professional. Check 06

Why this matters

A loan sanction is not a substitute for your own legal and property due diligence. MoneySastra does not provide property-title advice.

Co-owners and co-borrowers understand who owns what and who is responsible for the loan. Check 07

Why this matters

Ownership, repayment and tax outcomes can be different concepts. Make the structure explicit before signing.

I have reviewed the household’s protection needs after taking on the loan. Check 08

Why this matters

A large long-term liability may increase the financial impact if an earning member dies or becomes unable to contribute.

The EMI still leaves room for other important goals. Check 09

Why this matters

A home should not automatically consume every future raise. Consider retirement, children, parents and other goals competing for the same surplus.

I understand how I will decide between prepaying the loan and investing extra money. Check 10

Why this matters

The answer can change with interest rates, taxes, liquidity needs, investment risk and your comfort with debt.