Purchasing a home is one of the biggest financial decisions you may take in your lifetime, and if you are considering applying for a home loan, it can become an even bigger decision. For an average middle-class person, availing a housing loan can become a big liability as it lasts for many years.

To be able to repay the amount for so long, you must assess and review all aspects of your finances and then decide whether you can afford to take a loan or not. You need to take into consideration your future flow of income, whether you have enough savings to meet any emergency expense.