Are you looking for your ‘home sweet home’ in the Indian real estate market? Will it be the best time to buy a home? Or should you wait? With the Indian economy just beginning to arise from the pandemic effects, these thoughts are natural to come for any investor.
A decline in the real estate market may be bad news for short term investor but good news for genuine homebuyers and long-term investors. The current stage is indeed the best time to take the dive.
Following are the five reasons to invest in the property now.
1) Stability in the real estate market:
In the current scenario of uncertainty and pain, the investor is looking for assets with stable decent returns. Real estate prices are already at the bottom across India. There are highly fewer chances for more declining of the prices in the residential real estate.
2) Decline in the Prices:
The house prices were decreased even before the pandemic as per RBI estimation by 1% in the first quarter of 2020. Banks too have followed up by reducing their home loan interest rates , which persuades buyers to invest.
3) Good Property Deals:
The homebuyers can also avail themselves of many cost-effective deals provided by property dealers. This has been due to a large number of unsold flats in the lockdown period, and builders are focusing on clearing these old inventories before coming up with new projects.
4) It’s the Buyer’s Market:
One in all, the Indian property market seems to look like a buyer’s market with most builders and dealers facing a crisis with falling house sales, reduce prices. The present scenario is totally different from the previous downturns.
5) Low-Interest Home Loans:
The other reason to buy a new home or property is a reduction in the interest rates of home loans. This has been possible by RBI’s decision to reduce the lending rate to banks.
Despite all the buyer’s benefits, you should take imperative precautions before investing in any property or buying a new home.