It is better to aim to minimise your loan amount by making a substantial down payment. You can follow the below steps while planning for a house/property purchase:
- Decide on the property budget and when you will need the money for down payment.
- Select investment products based on the time horizon:
- Within 1 – 3 years: Use debt funds to accumulate the funds.
- 3–5 years: Consider hybrid mutual funds.
- Above 5 years: Equity funds will be suitable.
Consulting an expert will help you choose the right mix of investment products for your requirements.
