Buying a home? Consider co-ownership, check well-connected suburbs

Prepay other loans and get a co-applicant to improve loan amount eligibility

Buying a house in a state capital has become challenging, even for those in the top 5 per cent income bracket, according to a recent media report. 

Prospective homebuyers can consider the following strategies to improve affordability. 

Real estate strategies  Shift to suburbs: Peripheral locations often offer more affordable options. “Infrastructure improvements like new Metro lines and highways mean there is no compromise on future returns,” says Ravi Shankar Singh, managing director, residential services, Colliers India.

 

However, avoid areas lacking essential amenities. “Ensure that schools, hospitals, and retail (shops) are available nearby,” says Anupam Rastogi, cofounder and chief business officer,