According to reports from Mint, buying an older property requires more than just checking the price. Buyers should verify title, registration, encumbrances, construction approvals, structural condition, repair costs and whether the property meets lender requirements before proceeding. As reported by Colliers' Homebuying Sentiment Survey 2026, 50% of prospective homebuyers intend to purchase a home within the next two years, with affordability and pricing among the key concerns. The survey covered around 1,800 respondents across more than 30 residential markets.
As reported by Mint, a ₹70 lakh older home may require another ₹8 lakh for immediate repairs and renovation, bringing the effective acquisition cost to ₹78 lakh. If the buyer has ₹15 lakh available for down payment and upfront costs, the financing requirement can change significantly depending on how much repair expenses need separate funding. According to the report, loan tenure also deserves attention as the property's age, condition, documentation and value as security can influence the financing decision.
According to Mint, registration is not the end of due diligence - buyers should verify title, ownership history, encumbrances, property-tax records and other relevant documents. The RBI's housing finance framework requires borrowers purchasing constructed properties to declare that the property has been constructed according to sanctioned plans and building bye-laws, with banks required to obtain certification of compliance from an architect before disbursement. As reported, unauthorised colonies require even greater caution as the RBI framework states housing loans should not be provided unless the colony has been regularised and applicable charges have been paid.
As reported by Mint, buyers often look at the property and the loan as two separate decisions, but they are not. According to Atul Monga, CEO & Co-Founder of BASIC Home Loan, buyers should approach the decision in order: first establish clear ownership and title, then check registration and encumbrances, verify sanctioned construction and applicable approvals, assess physical condition and repair requirements, and finally understand the loan amount and tenure the property can support. The report emphasizes that the property determines how much financing may be available, on what terms and with what level of due diligence.
