Eight Things to Check Before Buying a Home

How to buy your home with complete peace of mind, by checking eight things before you sign, even if it's your first purchase.

A home is the biggest purchase most families make. A few simple checks before you sign make sure it is the right home, on clear papers, at the right total cost. Lenders check these too, so a property that passes them also moves through your loan smoothly.

The new way to look at it

Your lender's legal and technical check is a second opinion on your property. When you choose a home that lenders already like, you get both peace of mind and a faster loan.

Eight things to check

1. RERA registration

For a new project, check the RERA registration on the state's RERA website (MahaRERA in Maharashtra). It shows the approved plans, the promised possession date and project updates.

2. Approvals and certificates

For an under-construction project: approved building plans and commencement certificate. For a ready home: the occupancy certificate (OC).

3. Clear title

The seller should have clear ownership. For a resale flat, the full chain of earlier agreements should be complete.

4. Lender approval of the project

Many projects are pre-approved by several banks. It is a useful sign of a well-documented project and makes your loan smoother.

5. Carpet area and specifications

Under RERA, prices are based on carpet area. Compare it with the agreement, along with the amenities and specifications promised.

6. The builder's track record

Look at the builder's completed projects and how they were delivered.

7. Society papers for a resale home

Share certificate, society NOC, and paid-up maintenance and property tax.

8. The full cost

Add stamp duty and registration, GST (for under-construction homes), parking, maintenance deposit, legal fees and interiors to the price. That is your real budget.

Do it yourself, or have me by your side

You can work through these checks yourself, with a lawyer for the title.

Or I can review the property with you the way a lender would, suggest lenders who already finance the project, and make sure your loan and your purchase move together smoothly.

Frequently asked questions

What is RERA and why does it matter?

RERA is the real estate regulator. A RERA-registered project has its plans, timelines and updates on public record, which gives buyers clarity.

What is an occupancy certificate?

It is the certificate from the local authority that a building is fit to occupy. Lenders look for it on ready homes.

What costs are there beyond the property price?

Stamp duty and registration, GST for under-construction homes, parking, maintenance deposit, legal fees and interiors.

Your next step

In a 20-minute discovery call, we'll look at the home you're considering and the lenders that suit it and you.

Book a 20-minute discovery call There's no pressure. We'll just see if we can help.

Read more: Home loans for salaried professionals

Disclaimer: This article is for general information only and is not legal or financial advice. Please consult a lawyer for title verification. Aadhya Financial Consultancy is a loan advisory firm working with banks and NBFCs; it does not lend. Rules vary by state.