Planning to buy your dream home this Diwali? Experts explain why festive season can be good time for first-time buyers
Dhanteras and Diwali are considered auspicious occasions for big ticket purchases and with Diwali set to be celebrated on Sunday, 8 November, many first-time homebuyers may be considering purchasing their dream house this festive season.
According to the Colliers’ 2026 Homebuying Sentiment Survey found that 65% of prospective buyers consider attractive pricing and flexible payment plans important to their purchase decisions. However, amid a number of festive period offer and discounts, you must keep the requirements and budget in mind before finalising a deal. Today, we discuss a few tips for first-time homebuyers.
Ayushi Ashar – Director, Ashar Group; Founder & CEO, Ashar Urban Futures Lab; Managing Committee Member of CREDAI-MCHI, the Diwali festive season creates a favourable window for homebuyers, with festive offers and flexible payment plans making homeownership more accessible.
He feels the real advantage lies in combining these festive opportunities with the right location, thoughtful design, quality construction and lifestyle amenities. “A home is a long-term investment, and festive incentives should empower buyers to make a well-informed decision that delivers both emotional fulfilment and lasting value,” Ashar said.
Some factors that can offer increased savings include direct price advantages, registration-related benefits and flexible payment plans thanks to Diwali offers. These provide an advantage by helping buyers reduce upfront expenditure and manage cash flows more effectively.
According to Rishi Anand, MD and CEO of Aadhar Housing Finance, festive season is considered to be an auspicious time for first time homebuyers to purchase a house. He offered some key tips for first-time homebuyers:
- Outline your budget before purchase
Anand noted that homebuyers must give serious thought to their family income, expenses and other liabilities to ensure that home loan repayments do not affect your ability to meet your daily living expenses and other financial commitments. “If you are a family with fluctuating or low-income levels, then purchasing a house that fits within the budget range is going to save you from financial woes in the future,” he said.
- Be cognizant of up-front charges, these add up
Further, when it comes to buying a house, the process involves more than simply paying the property price. From registration costs, to stamp duty, legal charges, interiors and moving charges can all pile up on the bill total, Anand cautioned, adding, “Checking things out early will prevent any financial strain after the purchase is made”.
- Home should meet your needs, requirements
Another important factor that Anand highlighted for first-time homebuyers includes consideration of a property’s proximity to schools, hospitals, and offices — as per your needs and priorities. “A festive offer might make a home look attractive, but these incentives should not be the primary reason that you make an investment. What matters is whether the home meets your family's needs currently and in the future,” he added.
- Understand your loan eligibility, interest rate
When it comes to financing your house purchase, many buyers rely on bank or finance company loans for the transaction. However, before sanctioning a home loan, lenders will evaluate your salary and ability to pay back the loan, they may even check your credit score and liabilities.
Anand stressed the importance of knowing your potential loan eligibility before finalising a property as this can help set realistic expectations. “Buyers need to take into account not only interest rates but also all kinds of fees, the period of repayments and other conditions associated with the loans. It is crucial to choose the right loan according to your financial capability,” he said.
- Expect the unexpected, and keep some buffer
You may apply for and get a home loan based on your current income, and while one hopes to better their income in the future, it is best to build a buffer in case of job loss or other unexpected expensive expenses reducing your repayment capacity.
Anand noted, “A home loan is something you'll carry for years, so if you spend all your resources on a down payment, you may not have a safety net in case of any unforeseen emergency. Festivals are the best time to explore properties, compare financing options and discuss this important decision with the family. However, only careful planning can help make homeownership a sustainable step towards long-term security.”
- Check eligible government schemes for support
Anand also directed first-time homebuyers to government initiatives such as the Pradhan Mantri Awas Yojana (PMAY), which provides subsidised housing opportunities and lower home loan interest rates for beneficiaries in urban and rural locations. You will have to do your research here to ensure your application has the best chance of being approved.
Jocelyn Fernandes is a journalist and editor with nearly 13 years of experience covering the business, corporate, economy and markets beats in news.<br> As chief content producer for around three years at Livemint (Hindustan Times), Jocelyn publishes breaking stories, explainers, features and live blogs on a range of business and economy topics, including the Budget, corporate developments, stock markets, income tax, money and personal finance, cryptocurrency, government policy, impact of US tariffs, international developments and more.<br> Jocelyn's writing philosophy is focused on delivering news in an accurate and accessible format for readers. She thus focuses her news coverage on explainers and FAQs in order to breakdown business, corporate, economic, and policy topics that are of importance to everyday readers.<br> She holds a Bachelors in Mass Media (BMM) and Post Graduate Diploma (PGD) in Journalism and Communication and has previously written for online business and markets news site Moneycontrol (Network18), Business-to-business (B2B) trade publications — the industry magazines Power Today and Solar Today (ASAPP Media), and the national news agency United News of India (UNI).<br> Outside of work, Jocelyn keeps up-to-date with local and international news, enjoys reading fiction books, novels and short stories, and enjoys movies, travelling and art. <br> She can be found on X and LinkedIn, and reached by email: <a href="jocelyn.fernandes@htdigital.in">jocelyn.fernandes@htdigital.in</a> <br> X/ Twitter handle: <a href="https://x.com/scribeJocelyn">@scribeJocelyn</a> <br> LinkedIn: <a href="https://in.linkedin.com/in/jocelyn-fernandes-journalist">LinkedIn</a>
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