How to Buy Affordable Homes in India: Top 8 Tips for Homebuyers

Buying a home of your choice with perfection is quite a jittering task, especially in India. Everyone has certain expectations regarding their house and its interiors, designs, amenities, Vaastu, etc. but to get all that in a single place is a tough task.

We all want to save money while buying a house without compromising the look and place of the house (and we want to do all this with minimal effort).

Well, the digital presence of real estate in current times has helped buyers to get a fair deal without much scurrying around. There are numerous online portals and forums which inform buyers about the market prices of houses.

However, the prices of real estate don’t change overnight. It takes a trend like if you see a chart of five years, you will recognize the prices in real estate of Hyderabad and Pune is quite low compared to Bangalore and Delhi NCR. So, before investing in real estate, keep some points in mind to buy a home at an affordable rate in India.

1. Think, Plan & Set a Right Budget

Home investment is always multidimensional as it is a huge investment that brings security, shelter, financial commitments, and lots more with it.

Before negotiating with the seller, try to find the market price of the area in which you are looking to buy a house. This will help you to set the right budget and tell the right price to the seller while negotiating and prevent you from falling prey to the sentiments of the seller.

Tip: if you are planning to relocate to the new house after the home purchase, you should also think about the budget for packing and moving from the old house to the new one. The best option in such a scenario will be to hire packers and movers Bangalore, Delhi, Mumbai, Kolkata, (or whichever city you live in) to get the relocation services as per your requirements at affordable charges.

2. Contact a Real Estate Professional

Researching the market and finding something affordable or within budget is a time-taking process.

So, it would be a wise idea to hire a real estate expert or company to find a desired house in your budget. They have vast knowledge about real estate properties, pricing, and valuations.

But it’s important to beware of fraudsters and do thorough verification & interviewing of real estate agents before hiring any. Don’t forget to read reviews and check out their authentications as an agent/company in the market prior to making any commitments to them.

3. Look for Properties Under Construction

If you are looking to buy a house with affordable rates in India, then choosing an under-construction property is great. Ready to move in home charges extra amount as compared to under-construction properties. If you want to buy an affordable house with all amenities, then look for Under-Construction Township, where you get everything like a central city property.

4. Choose Upcoming Localities

This is a wise choice as in these areas the cost of the house is at least 20-60% lesser than the central city and such houses gain better appreciation with time. Moreover, you get a clean and fresh environment to stay in.

5. Give a Thumbs up to Resale houses

If you want to cut costs on overall investment to buy a home in India, search for second-hand houses. However, the interiors, garden and amenities present in the resold house may not be according to your choice, but you can mend them with time.

Moreover, buying a second-hand home doesn’t mean you don’t have to negotiate with the seller. If you want better and discounted prices, you must negotiate with the seller smartly.

6. Try to Buy Auction Property

Government-organized auctions can be a wise idea to buy a house at an affordable rate in India. But, before participating in the auction, thoroughly search about the valuation of the property which is dependent on the location of the property, interior and exterior decoration, material used and many more. In the flow of a bidding war, don’t bid a price more than the value of the property. Aim to bid at an affordable price and not more than the value of the property.

7. Prefer Low-budget Cities for Retirement

If you are making your retirement plans and want to buy a home at an affordable rate to spend the rest of your life with serene, then you can try to shift to some location away from the main cities.

There’s no need to be worried about shifting your entire household as there are many moving companies across India that have years of experience in the field and are capable of fulfilling your shifting requirements at pocket-friendly costs.

One such reliable online platform to find trustworthy moving companies is AssureShift which offers a list of pre-verified relocation service providers in more than 25 Indian cities. With AssureShift, you can get the best shifting services in India with assured quality and pocket-friendly costs.

8. Try to be Flexible with Vaastu

Sometimes it is difficult to get the desired house as per Vaastu. We all know Northeast-facing is the best direction to enter inside the house, hence this will be the most premium cost.

But, if you want to buy a home at an affordable rate, you can choose the East-facing Vaastu plan or North-facing and construct the interiors accordingly to manage the Vaastu plan. Here, you must negotiate with the seller to give the house at a discounted rate as you are not getting the desired Northeast plans.

Final Tips

While trying to buy a home negotiating with the seller will increase the chances of a discount. If you will not utter anything, then he may charge you overpriced, and you will get cheated.

Before making any investment in a home, try to find out the price of the area where you are planning to buy a home. It would make it easier for you to discuss pricing with the builders and sellers.

The market is flooded with fraud agents and sellers, so keep in mind to check the reviews, id proof and authenticity of agents.

Kimberly Tran

Kimberly Tran brings a wealth of knowledge from her 15 years in architecture and urban planning. She graduated from the University of Southern California with a Master's in Urban Planning. She began her career in a top architectural firm before transitioning to property development. Joining our team in 2020, she has since been a driving force in exploring innovative living spaces. Kimberly balances her professional life with a passion for landscape photography and volunteering in community redevelopment programs.

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