How do I determine the right price range for a home I can afford?

To determine the right price range for a home you can afford in India, you should consider your current income, expenses, and debts, as well as the amount of down payment you can make. A general rule of thumb is that your monthly mortgage payment should not exceed 28% of your gross monthly income.

For example, if your gross monthly income is Rs. 50,000, your monthly mortgage payment should not exceed Rs. 14,000. Keep in mind that you will also need to factor in other costs associated with home ownership, such as property taxes, insurance, and maintenance costs.

It is also important to get preapproved for a home loan before starting your home search. This will give you a better idea of how much you can afford to borrow and help you focus your search on homes that are within your price range.