Protect your home with Insurance @ just ₹18/month*
Compare and Save
Compare and save up to 25%**
Bank-approved policy copies
Bank-approved policy copies
No paperwork
No paperwork
Instant online policy issuance
Instant online policy issuance
Name

So that we know what to call you.

Name

We'll send your policy copy & important updates to this number.

View Free Quotes
What are you looking for?
View plans
By clicking on "" you agree to our Privacy Policy & Terms of Use
Get Updates on WhatsApp
Only Policybazaar certified experts will assist you

Right Age to Purchase a Home & Keep It Under Your Budget

Purchasing your own house is a dream of many. As we are talking about the right age for purchasing a home, well let us tell you that there is no such thing as purchasing a house at the right age. It totally depends on the individual’s income and bank balance. However, if you start earning at an early age then there are certain measures you can take to make this dream come true at an early stage of your life.

Read more

Early Savings is the Key

Early start for anything is better as it keeps you ahead of almost everyone around you. As per the experts, if you think you can afford a house purchase then doing early age is crucial. When you start earning at an early age then you must start saving a part of your monthly income to collect the desired amount that you can invest later in making the downpayment for your dream home.
Inflation is your biggest enemy when you think about purchasing a house. If you intend to purchase a house worth Rs 30 lakh, an inflation of 5% would increase its value to Rs 53 lakh in the next 10 years. This is why, when you start saving at an early age, it can turn out in your favour when you plan on investing in your dream home.

Investment Options Available

Saving your money is one side of the coin however channeling it to invest and let it grow is another. There are various ways you can use to invest and let it grow itself. Since there are many options out there for you to invest your money and get decent increment with time, however, it is advised to learn about the terms and conditions properly.
Be it stock market, crypto or mutual funds, all of them are subject to market risks but with a deeper knowledge of the market and learning about the risks related to it, you can start investing at an early age and get decent returns.

Compare Home Loans

Apart from looking for the type of home you want to buy, it is equally important to research on the type of home loans provided by the banks. Every bank provides home loans but with different rates of interest.
Once you have found the right home loan option, look for the time you get to repay it and if you can afford it then it is suggested to pay the highest possible EMI per month to pay out the loan amount as soon as possible.

Keep Other Expenses in Mind

Apart from the down payment while purchasing a home, there are many other expenses involved that you have to make out of pocket. For instance, you have to pay for the stamp duty that varies from 5%-7%, registration fees, memorandum, electricity connection, interior design or modifications, water supply, etc. However, you cannot get an accurate idea about the out-of-pocket expenses, try and get at least an estimate so that you can strategize your other expenses as well.

Visit the Location

You cannot totally rely on the online information related to the property/home you are willing to purchase. It is because of the amount of investment you are willing to do, you should always visit the location of your desired.
Not just to make sure that it's there, you will also get the idea of the locality, nearby market places, fun spots, parks, etc. Once you have visited the place yourself, then you will be able to make the right decision whether you really want to purchase the property, if it is really worth the amount you are willing to invest or not.

Home Insurance is a Must

Once you have purchased your home and started living in it, it is vital to purchase a home insurance policy to protect it from any unforeseen incidents that might cause damage. Since you invest a whole lot of amount in purchasing a home and as you research before purchasing the right house, it is also advised to research for the right home insurance policy while making the purchase.
Everything is available online now a days, and you can look for the right home insurance policy online. You can compare different plans, calculate the premium amount using an online premium calculator, look at the claim settlement ratio of the insurance company as well.

Conclusion

Purchasing a house at an early age is a good idea but it can be very difficult as, in the end, it all comes down to affordability. Well, we have mentioned some ways that you can consider getting yourself financially ready to invest in purchasing a home at an early age. Also, once you have purchased a home protecting it with home insurance is vital.

Written By: PolicyBazaar - Updated: 08 March 2022
Disclaimer:The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
Home Insurance Articles
Buying your dream house can be one of your most significant investments in life, for which you might avail of...Read more
21 Sep 2023 by Policybazaar 6504 Views
Housing society insurance is a one-stop solution for all residential societies against unforeseen damage caused by...Read more
14 Feb 2024 by Policybazaar 2237 Views
Purchasing a home is one of the most financially sound decisions one can make. Any decision taken in a hurry might...Read more
07 Feb 2024 by Policybazaar 2211 Views
Common Inclusions and Exclusions of Home Insurance Policy In India, several insurance companies are offering various...Read more
05 Apr 2022 by Policybazaar 2834 Views
Owning your dream house is one of the significant milestones in a lifetime. Remember, your home is not merely a...Read more
30 Jan 2024 by Policybazaar 1801 Views
Buying a home is the dream of all, and if you are among those who have one should protect it and its contents...Read more
08 Jul 2021 by Policybazaar 2813 Views
The most splendid of evenings can be ruined by the water dripping from above – causing a jarring moment in your...Read more
09 Feb 2022 by Policybazaar 2618 Views
Natural and man-made threats like floods and theft aren’t uncommon in India; causing a serious setback to your...Read more
28 Feb 2022 by Policybazaar 1580 Views
A home insurance policy plays a significant role in insuring the structure of your house,supporting structure, the...Read more
21 Apr 2022 by Policybazaar 2821 Views
Having a home of their own is a significant milestone in one's life. However, with the rapidly increasing prices...Read more
15 Feb 2024 by Policybazaar 1084 Views
In home insurance, it is essential to know the differences between two major aspects: Loss of Rent Cover and Rent...Read more
16 Apr 2024 by Policybazaar 943 Views
A sum insured in home insurance refers to the maximum payout amount an insurance company agrees to pay in the...Read more
18 Apr 2024 by Policybazaar 1168 Views
Loss of Rent (LOR) coverage is a significant feature of a home insurance policy for landlords. This additional...Read more
09 May 2024 by Policybazaar 983 Views
Valuable Content Cover is an optional or add-on cover offered by Bharat Griha Raksha Policy to provide...Read more
05 Jun 2024 by Policybazaar 919 Views
Your home is one of your biggest assets because you invest a lot in it. This is why it becomes really necessary to...Read more
22 Feb 2022 by Policybazaar 2147 Views
Valuable Content Cover is an optional or add-on cover offered by...Read more
05 Jun 2024 by Policybazaar 919 Views
Personal Accident (PA) Cover is an add-on cover provided by...Read more
05 Jun 2024 by Policybazaar 685 Views
Loss of Rent (LOR) coverage is a significant feature of a home...Read more
09 May 2024 by Policybazaar 983 Views
A sum insured in home insurance refers to the maximum payout...Read more
18 Apr 2024 by Policybazaar 1168 Views
In home insurance, it is essential to know the differences...Read more
16 Apr 2024 by Policybazaar 943 Views
Having a home of their own is a significant milestone in one's...Read more
15 Feb 2024 by Policybazaar 1084 Views
Housing society insurance is a one-stop solution for all...Read more
14 Feb 2024 by Policybazaar 2237 Views
Purchasing a home is one of the most financially sound decisions...Read more
07 Feb 2024 by Policybazaar 2211 Views
Owning your dream house is one of the significant milestones in...Read more
30 Jan 2024 by Policybazaar 1801 Views
Getting home insurance is like giving your house a financial...Read more
05 Jan 2024 by Policybazaar 844 Views
Buying your dream house can be one of your most significant...Read more
21 Sep 2023 by Policybazaar 6504 Views
Have you ever wondered if the color of your room affects your...Read more
02 Mar 2023 by Policybazaar 2041 Views
Vastu Shastra refers to the science of architecture. It uses...Read more
28 Feb 2023 by Policybazaar 1962 Views
Bharat Griha Raksha Policy is a standard home insurance policy...Read more
27 Feb 2023 by Policybazaar 17 Views
The majority of the population in India does not understand the...Read more
17 Jan 2023 by Policybazaar 1796 Views

Reviews & Ratings

4.7 / 5 (Based on 99 Reviews)
(Showing Newest 10 reviews)
Surendra
Delhi, February 05, 2025
Good Price
I had purchased Bajaj Allianz home insurance, and when there was damage to home equipment due to an electric spark, these damages were covered by the insurance. Got insurance at a good price.
Naresh
Muzaffarnagar, February 02, 2025
Best Deal
I never thought home insurance could be affordable. With Policybazaar, I could compare multiple insurance plans on a single platform. I am glad I got the best insurance plan at a very good deal.
Nalin
Begusarai, January 30, 2025
Easy Renewal
I renewed my home insurance through Policybazaar. Initially, I was unsatisfied with my previous insurer, but my experience with Policybazaar has been good. Very satisfied with their services.
Abhimanyu
Gridi, January 29, 2025
Good Experience
PolicyBazaar has made comparing policies easy, and its agent explained the features clearly. Really happy with my experience of getting a home insurance policy.
Prateek
Patna, January 27, 2025
Expenses Covered
With HDFC ERGO home insurance, I could cover my expenses when our building caught fire. Luckily, no one was hurt.
Dhruv
Jamshedpu, January 24, 2025
Easy Process
Thank you, Policybazaar, for helping me to get the claim approved for my home insurance. Your process was very easy.
Vihan
Etawa, January 21, 2025
Big Help
I had purchased a new flat by taking a home loan. However, after paying the second EMI, there were some issues with the water pipeline, and it burst. The house's walls were damaged, and home insurance through Policybazaar helped me get a claim for my loss.
Ishaan
Lucknow, January 20, 2025
Stress-free process
Exploring different home insurance options felt overwhelming, but PolicyBazaar simplified everything. Their platform helped me compare plans quickly. The team answered all my queries, making the process stress-free.
Kshitiz
Lucknow, January 18, 2025
Easy Process
Thank you, Policybazaar, for helping me to get the claim approved for my home insurance. Your process was very easy.
Rahul
Patna, January 17, 2025
Stress-free process
Exploring different home insurance options felt overwhelming, but PolicyBazaar simplified everything. Their platform helped me compare plans quickly. The team answered all my queries, making the process stress-free.
  • Disclaimers+

    #Savings of 28% are based on the comparison between the highest and lowest premiums for a pucca building with sum insured of >₹ 1 crore at Delhi, for property age less than 5 years and policy term of 11 years.

top