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5 Smart tips to buy a property before you turn 40

8 Aug 2022

Have you celebrated your 35th birthday? Now you are planning something big for your future asset. So, this is the right time to buy a property because real estate is the easiest and most hassle-free investment process. In this article, we will discuss 5 Smart tips to buy a property before you turn 40.

          1. Decide your needs:

At first, you need to decide what you want. When you are buying a property, it’s a big decision for you. So, you clearly determine what you actually want? Take your time and decide.

Whether you want a ready-to-move flat or an independent house, 2/3BHK, your lifestyle, budget, location and city are very important parts of buying a new property. So, take your time and decide to buy a property before you turn 40.


2. Maintain a good credit score:


A good credit score (above 750) makes you easily eligible for a home loan and increases your negotiating power for lower interest rates. A low credit score will make it difficult to avail of a home loan. So, you could easily get a lower interest rate if you have a good credit score.


3. Compare home loans:


The most important thing is comparing home loans of various banks to know the best option and shortlist the valuable options available in the market. Interest rates start from 8%+PA and are usually pegged to the bank MCLR (Marginal Cost of Funds Based Lending Rates) if you choose a floating rate loan. Fixed interest rates start from 9%+PA comparing all the aspects of a home loan package will give your insight into the actual cost of borrowing.


4. Save money for EMIs


Nowadays, buying a home without a home loan seems just impossible. Home loans don’t come cheap. So, you will have to pay EMIs every month. It is likely to be way more than the rent you are paying presently. So, fix your money for your future EMIs.


4. Know your hidden costs:


Many people set budgets for the extra (hidden) costs that can go up to lakhs. So don’t forget this matter when you will purchase a property and fix some money. Extra costs like registration, stamp duty and all will require additional funds that are not always mentioned. You should always ask for the final price and add registration and stamp duty charges to arrive at the total price.




A home is a long-term asset with implications for your finances and future investment. Buying a home gives a feeling and satisfaction of owning a property and saves your hard-earned income. Magnolia infrastructure offers you the best and most luxurious properties in Kolkata.


Written By: Moon Sarkar 


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