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Home Investment Plan to Buy Dream Home

The thought of owning our own home inspires us. It’s no surprise that purchasing a home requires both a financial and emotional investment.

  • 21,436 Views | Updated on: Mar 12, 2024

Determine How Much Will You Need to Buy Your Dream Home

Calculating how much money you will need to purchase the house you want should be the first step. Consider the other expenses, such as registration fees, stamp duty fees, interior expenditures, etc., when calculating the price. The bank’s mortgage loan won’t cover these extra expenses. Therefore, it is best to budget ahead for these expenses.

More crucially, while predicting the future worth of your ideal home, you must account for real estate inflation. According to several studies, the average property price in the top 7 cities increased at an annualised rate of 3.5% over the following ten years. So, if you assume a similar increase each year for the following ten years, you will need to save up to ₹1 crore to buy a home that is currently priced at about ₹70 lakh.

Calculate the Amount You Need to Collect

Banks do not provide you with the whole amount needed to purchase a property when you take out a home loan. Typically, banks would only lend you up to 80% of the home’s value. You are responsible for raising the final 20% on your own. The amount you must pay upfront is referred to as a down payment. Only once your down payment has been paid in full does the bank begin loan disbursement.

Ideally, though, you should pay for at least 60% of the property’s value out of your own money; a bank loan can cover the remaining balance. This significant portion of your payment will guarantee that the overall amount of interest you

Building Corpus for Your Dream Home: Where Should You Invest?

The asset class that gives you the best possibility of achieving this long-term goal and a sizable sum of money to collect is equity. This is because, in terms of returns produced, stocks have outperformed all other asset classes over the long term.

The easiest way to invest in stocks right now is through equity mutual funds.

You can think about the following categories when discussing equity mutual funds.

Flexi Cap Mutual Funds

These diversified equity funds make investments in businesses of all sizes and in various industries. Thus, a portfolio of stocks in various sectors, including large, mid, and small caps, will be given to you. This generates a diverse portfolio on its own. Additionally, these funds’ flexibility enables fund managers to adjust the portfolio as market conditions change.

Large and Mid-Cap Mutual Funds

These funds invest in the top 250 Indian corporations. As a result, there is a mixture of major and mid-cap enterprises. Blue-chip corporations that are market leaders in their specific industries make up large-cap stocks. Their size and strength allow them to produce returns that are quite consistent. Fast-growing businesses that are challenging the market leaders are the mid-cap space’s constituents. These businesses have the ability to outperform the market, but they can also be very unpredictable over the short to medium term. So you get the best of both worlds when you combine the large and mid-cap.

Home Investment Plan to realise your dream of living in your own cosy abode

Owning one’s own home is a major milestone that tops many people’s lifetime to-do lists. And their list of financial fears too! But it does not have to be a stressful experience if you plan it in time with care and thorough research.

Buying a home is a huge investment. It is one of those decisions that signal the beginning of a new stage in our lives.

Before you jump into the wonderful world of homeownership, it is important to be financially ready for it.

Before you jump into the wonderful world of homeownership, it is important to be financially ready for it.

Since there is a huge outlay involved, such decisions are taken after much thought and planning.

Wrapping Up

Kotak Life Insurance helps you plan for your home much in advance with its range of products that help you save regularly and without any hassles. All you have to do is choose the right plan and take a step closer to your home. Kotak Life Insurance offers a wide range of single premium or one-time investment plans that are designed to suit various needs and demands.

- A Consumer Education Initiative series by Kotak Life

Amit Raje
Written By :
Amit Raje

Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.

Amit Raje
Reviewed By :
Prasad Pimple

Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors

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