If in past few months, you have been
thinking of taking the plunge and invest in a property, then the last quarter
of 2013 can prove to be the right time to do it. The rates on fixed-rate loans
are attractive, and the analysts suggest that it is still cheaper to buy than
rent a home. The loan lending institutions have also relaxed the pre-loan
qualification requirements this year. The experts suggest that the buyers
should make sure that their local market is improving and should only buy if they
plan to be on the property for at least four years.
Certainly, we dream of homeownership, but
before taking that big step, it is necessary to first identify if it is the
right time to purchase this new commitment. Here are some of the reasons why it
is the right time to invest!
Building
inventory
It is the tough time for the realty segment
with dropping sales of properties. The experts suggest that the new projects
have witnessed a drop of 13% in National Capital region (NCR) in the first half
of the year 2013, while in Mumbai, the sales dropped by 12%, in Pune by 15% and
in Chennai by 7%, thus building up huge inventory. This is the reason the
developers have pulled up their socks and are trying their best to lure more
and more buyers so that they do not have to witness huge losses in these
already constructed buildings.
Seasonal
discounts
With the New Year discounts round the
corner, and the festive season just gone by, the buyers can take advantage of
the situation and find out the best property deals available in their area of
interest. There are a number of interesting deals within limited validity
periods. If such deals sound good to you and get you a property by paying a few
lakhs less, what is the issue investing in
such a property!
Market
is buoyant
The realty
sector and the builders are optimist this time owing to limitless options in
affordable housing. The market is ready to meet varying needs of different
types of buyers, and the homebuyers have an extensive wide platter to select
from! The market is picking up and so is the optimism among the builders. However,
prices on the construction materials and labor have increased; still the
builders are trying harder to lure more and more buyers, making the market extremely
buoyant.
Do you have have any questions or suggestions? Write in comment section.
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