Getting your home loan approved might feel like crossing the biggest hurdle, but financial expert Sujit Bangar says that’s only half the story. The founder of TaxBuddy.com has warned borrowers about hidden costs, pressure tactics, and fine print that banks rarely disclose upfront. In a recent LinkedIn post, he shared six practical tips that can help homebuyers avoid costly mistakes and unnecessary stress.

1. Ask for a full cost breakup — it’s your right

“Banks don’t disclose all costs upfront,” Bangar writes. Charges like processing, legal, technical, and valuation fees often show up only after sanction. But as per RBI guidelines, banks must provide a detailed cost sheet. “Always ask for a breakup before signing,” he advises.

2. Don’t fall for insurance ‘tax-saving’ traps

Bangar says relationship managers (RMs) often push expensive life insurance policies just before loan disbursement, claiming they are “compulsory.” They’re not. “Most people already max out Section 80C with the home loan itself,” he notes. With more taxpayers now opting for the new tax regime, these policies add little value. His advice: apply to two or three banks at once so you don’t get cornered at the last minute.

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3. Use joint ownership to double tax benefits

“Take the loan and property jointly,” Bangar suggests. Each co-owner can claim ₹1.5 lakh under Section 80C and ₹2 lakh under Section 24. That’s a combined deduction of up to ₹7 lakh — all within legal limits.

4. Register in a woman’s name to save on stamp duty

Some states, including Delhi and Haryana, offer lower stamp duty for women buyers. “On a ₹1 crore property, this could mean ₹2 lakh in savings,” says Bangar. However, he also cautions that buyers must understand the succession implications and plan accordingly.

5. Always verify projects on the RERA portal

Skipping the RERA check could be a costly mistake. “It shows pending approvals, litigation, and promoter history,” Bangar explains. Before signing any agreement, buyers should search their project on their state’s RERA website to ensure compliance.

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6. Don’t take possession without an Occupancy Certificate

“Moving in without an OC can lead to penalties or eviction,” Bangar writes. If a builder delays it, escalate the issue via RERA. His golden rule: “No OC? No keys.”