By Manjunath Vendan, Correspondent at Homes India

Avoid These 5 Traps When Buying Your First Home

Buying your first home in India is a monumental moment. Personally, I recall how excited yet anxious I felt making my first offer. That’s why I want to help you avoid home buying mistakes—especially as a first-time buyer—so your journey is rewarding, not regretful.

Key Stats You Should Know

Only about 24 percent of buyers in 2025 are first-time buyers—making competition stronger.
Most Indian first-time buyers put down around 10–15 percent, not the 20 percent seen in some markets.

2. Not Getting Pre‑Approved

Mistake: Skipping pre-approval vs pre-qualification, or ignoring both.

Why it matters: Pre-approval clarifies your loan eligibility and makes your offer more credible.

Expert Tip: “One should not proceed with the purchase unless the financial status is well understood. It’s a good idea to get pre‑approved for a loan to determine your loan eligibility.” —Anurag Goel, Director, Goel Ganga Developments.

Smart Move: Get pre-approved to lock in rates and show sellers you're serious.

Also Read: How to Buy Your First Home in India: A Step-by-Step Guide

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