Real Estate

Home buying tips for Woman

There is no security as that of owning a home and woman are no exception. Investing in a property has made it to the list of to-dos for Indian women, with it being one of the priorities for them today. Looking back, even a decade before, this was not the case. Education, exposure and the zeal to be financially independent has encouraged her to take this step. Below mentioned are some home buying tips for women.

Buy what you can afford: It is important to note that the investment in property is just one aspect of financial security for a woman. Investment in other asset classes like mutual funds, retirement funds etc. is equally important and so, the amount of money that can be invested every month should be calculated conservatively. Do not compromise on your financial feasibility and invest in a property that is not possible to manage.


Organise the primary costs: While going about an investment, there are costs attached. In addition to the down payment, there will additional payments to be made including stamp duty, registration, VAT (if any) among others. Before making the payment, it is wise to find the stamp duty as it varies from state to state and certain states have reduced stamp duty for women home buyers. For instance, in Rajasthan and Delhi, the stamp duty is 4% for a woman and 5% and 6% respectively if the buyer is a man.

Due diligence on the property and developer zeroed in: Since, a woman is aiming at financial security through home investment, getting stuck with a developer’s project that has run into problems will defeat the entire purpose of home buying. Hire a lawyer and get a complete check done on the project, developer’s track record. It is advisable to check the documents as to whether the area mentioned on paper is the same as what was communicated. Today, financial institutions also do a background check on the project independently before disbursing the loan and this is an added advantage when it comes to due diligence.


Do extensive research on the Home Loans: Be aware that woman are allowed for a lower rate of interest on home loans. Do good amount of research and choose the one which is best suited for your needs.

Be aware of the money going to be spent monthly: It is important for a woman to know that home buying activity doesn’t end with buying the house. There are associated costs like maintainance, parking, club membership, etc. For instance, with Maharashtra dealing with severe water shortage, water bill from tankers have been added to the monthly maintainance costs in several housing societies in the state.  It’s a good idea to assess the money that will outflow and plan accordingly.

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