Rohan (42) and Ananya Malhotra (41) have just moved into their new 3,000 sq. ft. apartment in DLF Phase 5, Gurugram. With two young children and fast-paced careers, they were ready for a home that offered more space, calm, and a touch of indulgence.
Rohan is a strategy director at a global IT firm, while Ananya runs a digital consultancy firm. Both are well-traveled, ambitious, and value design, privacy, and balance. Their new home, with city views and custom interiors, is part of a gated community with a wellness centre, clubhouse, and concierge.
For the Malhotras, this apartment is more than just a property — it’s the lifestyle upgrade they’ve been working toward.
Like the Malhotras, many affluent couples are buying the luxury house of their dreams. But buying a large house in their early 40s should come with some planning.
Buying a house is a long-term commitment
“Buying a large house in your 40s can be incredibly fulfilling, but it’s also a decision that must be driven by both emotions and economics,” says Manoj Dhanotiya, founder and CEO, Micro Mitti, a proptech company.
In metros like Mumbai or Delhi, a 3,000+ sq. ft. apartment can come with monthly maintenance costs of ₹25,000– ₹60,000, depending on location and amenities. Over 10 years, that’s ₹30– ₹70 lakh just in upkeep — not including property tax, insurance, and periodic repairs.
In Tier 2 cities like Indore, the cost is lower — ₹7,000– ₹15,000 per month for similar-sized units — but as developers bring luxury living and high-rise amenities into these markets, operational expenses are rising here too.
“Maintenance is normally a recurring expense and should be assessed keeping inflation in mind. High maintenance costs can later become a headache and eat into the family income,” says Gaurav Goel, a SEBI registered investment advisor.
So, don’t just budget for EMIs, plan for a ‘total cost of ownership’, which includes maintenance and sinking fund, annual property taxes, utility bills (which rise with home size) and occasional renovation. And these costs will continue if you decide to stay on in the house after retirement.
“In real estate, it’s not just what you buy — it’s what you can afford to sustain,” says Dhanotiya.
Another thing to bear in mind is the rate of inflation. Higher inflation than what has been budgeted can significantly erode the income and increase expenditure. “Hence it is always better to do all calculations based on the rate of inflation or rate of interest at the higher end of the spectrum. Buyer should also keep a buffer budget to take care if any unanticipated event escalates the costs,” says Goel.
Also, considering life stages is an important consideration when buying a large property in the 40s. At any stage of life an individual has different sets of requirements. The house that he lives in has to be regularly modified if these requirements are to be met. As one gets older, moving up and down or walking larger distances may become a problem.
“One can visualize the demands of old age and try to incorporate solutions to some of the problems at the initial construction stage itself,” says Goel. A good example could perhaps be having an elevator or provisioning for it if the house is multi storied.
Do you want to sell the house in the future?
Liquidity is the biggest blind spot in Indian real estate, especially in the premium segment.
In Tier 1 cities, the average resale time for luxury homes is 9–18 months, even in active markets like Gurgaon or South Mumbai. Capital gains taxes and registration costs further complicate the exit.
In Tier 2 cities, the resale market is still maturing. Success depends on the developer’s brand, project location, and buyer confidence.
“Also, if your home is part of a niche gated community with high maintenance or unique design, it may only appeal to a small pool of buyers. If it’s not RERA-compliant or lacks occupancy certificate (OC), the resale becomes even more difficult,” says Dhanotiya.
So, ask yourself before buying: Is this home just for living — or will I need to liquidate it someday to fund retirement, health care, or legacy planning? You may want to downsize and move into a smaller apartment after the kids are out or perhaps into a single story from a duplex as you grow older.
Real estate transactions, especially for the seller, usually are a lengthy process. “This is due to multiple reasons like correct pricing of the property; market conditions and economic factors and managing the high transaction costs and complex legal issues associated with real estate transactions. From preparing the property for sale, managing the property showings to prospective buyers to negotiations can be a time consuming process,” says Amar Ranu, Head – Investment products and insights, Anand Rathi Shares and Stock Brokers.
Ranu suggests a few key points to consider when downsizing: renting out the existing larger home instead of selling it outright, prioritizing only the items you truly need or want to take to your new residence, and making the most of the tax deductions available on the sale of the property.
Anagh Pal is a personal finance expert who writes on real estate, tax, insurance, mutual funds and other topics
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