New Delhi, Sept. 23 -- Buying a home is often treated as a question of how much loan a bank is willing to sanction. But loan eligibility does not necessarily mean the borrower can comfortably afford the property. A home loan is a long-term commitment, and an EMI that looks manageable on paper can put pressure on savings and other financial goals when combined with regular household expenses and existing debt.

Before finalising a property, buyers need to look beyond the EMI and calculate the full cost of owning the house. This includes the down payment, interest outgo, registration and other upfront expenses, existing financial commitments and the emergency savings that will remain after the purchase. Experts suggest running these numbers...