There is a saying that "a person gets a house once in his life time." It means that cost of property is so high that it is very difficult to change your house frequently. considering this,it requires a considerable amount of thinking and decision making for buying a house.
The thing which decides what kind of house[luxury,normal] you will get is depend on How much you can spend. This is the most affecting factor in your purchasing decision.You need to think on how much money you have and how much you can borrow[Take loan from bank].
if you are taking loan from bank,then it depends on lots of factors,like
your monthly salary,your liabilities etc.In case you want to take loan be make sure you decide the EMI which you can easily pay with your other expenses.You also need to make sure that you can save some kind of money from your salary for any emergency use.
After you have analyzed various liabilities and earnings,then decide how much amount you can spend on your new house.This will help you to minimize the risks evolved related to wrong financial decisions.
We will continue posting more tips on this site in future.