In today’s world, purchasing a house is not difficult, but buying a home is a long-term commitment. Buying a home is itself hitting a benchmark in your own life, as it involves a lot of excitement, anxiety, anticipation, and lots of monetary transactions.

The moment you are planning to buy a home or buy a piece of land, you need to set a budget. To buy a house, it is recommended to not spend more than 30% of your salary. This means all the loans, EMIs, and the overall value of the house should not be more than 20x one’s annual income.