Loans
Home Affordability Calculator
Before falling in love with a property, find out what you can actually afford. Combines your income, down payment savings, and existing obligations to give a realistic max home price.
Inputs
Affordable home price
Beyond loan EMI — total ownership cost
- • Stamp duty + registration: 5–8% of property price (one-time)
- • Brokerage: 1–2% (resale only)
- • GST: 5% on under-construction (1% for affordable)
- • Maintenance: ₹2–8/sq ft/month for apartments
- • Property tax: 0.1–0.5% of property value annually
- • Home insurance + interiors: ₹2–10L typical
Add 10–15% on top of property price to estimate total move-in cost.
The 5× rule of thumb: your home should cost no more than 5× your annual gross income. Above that, financial stress likely. This calculator is more precise — based on actual EMI affordability.
FAQs
How much home can I afford on my salary?
Rule of thumb: 5× annual gross income. More precisely: max EMI ≤ 40% of net monthly take-home, plus your down payment. We calculate the precise number based on your income, savings and existing EMIs.
How much down payment do I need?
Banks finance up to 75–80% of property value (LTV). So minimum down payment is 20–25%. Plus stamp duty + registration (5–8%) which banks usually do NOT finance. So budget 25–30% of property price as cash needed upfront.
Should I use my entire savings for down payment?
No. Keep 6–12 months of expenses as emergency fund. Don't empty mutual funds either — opportunity cost of breaking 12% returns is high. Aim for 25% down payment, retain rest of liquid assets.
Beyond EMI, what else costs money?
Stamp duty (5–8%), registration (1%), brokerage on resale (1–2%), GST on under-construction (1–5%), interiors (₹2–10L), monthly maintenance (₹2–8/sqft), property tax (0.1–0.5%/yr), home insurance. Plan +10–15% on top of property price.