Are a house and a home different for you? Do you have a dream of a house like those you see in fancy movies or do you share a vibe of a hippie lazing in their caravan? Whatever it is, it's your dream and it's your money. You have to decide where you want to live with the pile of cash you have! After all, money is the good morning to your sweet dreams that materialize your desires! It's harsh, but it's the truth.

A home is an emotion, but your dream can only be settled if you have wise mason skills while using your money as the foundation stone! Sylvester Stallone remarked, "Dreams cost nothing. They are free. The hard part is just keeping them going". 

While sketching out your home, most of the buyers screech out financially. One has to be well informed about the costs that your new home would come with and strike a balance with the ongoing lifestyle in order to be stable with their financial accounts. There ought to be a plan to work out your funds for your dream home. You should always keep in mind the limit of your income and the cost that you pay for your living while keeping that big part of your money as savings for your home. 

A few things to keep on a note, while having the sketch of your home ready would be the 25% rule. As per this 25% rule, you should not exceed 25% of your monthly income bracket while saving on the money for your new home. Most people find taking a home loan easier and more convenient in the fast run and while taking any such kind of loan, a professional's advice is a must. It's important to discuss your debt-income ratio with your advisor when you are planning to buy a house to know how much you can afford and make a budget accordingly. 

Before taking up a loan, it's crucial to check on your credit history and figure out the estimate that you have saved to pay off the down payment and up to what amount you can afford to pay on a monthly basis. You should also have an insight into the tax benefits that the different home loans provide to save up your penny over there.

If you are staying in these big cities, like Mumbai, Delhi, Bangalore or Ahmedabad, you have to keep your pockets tight! With the growing rates of real estate in these cities, the dreams of having a bigger house are crushing beneath the burden of debts. Here's how much time you would have to save in order to own a square foot in these concrete jungles! If you are willing to buy a home in Mumbai, you ought to save up for a minimum of 12 years to have a desirable house where the rates flow like a ₹100,000 tagged for an area of approx 5.3 square feet. Similar is the situation in the capital, where you would have to save for at least 7-8 years to get yourself a house with an area of approx 12 square feet worth ₹100,000.

Now when you are finally buying a home for yourself you should be sure of getting value for your hard-earned money. Diving in real estate is always an investment for your future. It is a secured form of your money that would yield you great returns as its price appreciates. Though while investing, you should keep in mind the current real estate market scenario and the nuances that would come along with it. 

Lastly, you should be prepared for the other big expenses that would occur while buying your new home. Expenses like stamp duty, registration fees, home insurance, maintenance costs and interior and furniture costs should be dealt with wisely. They seem like side costs but could lead you to big debts, so choose your new home while sketching a proper budget plan for it.