Tuesday 26 November 2013

Why it is the right time to buy your dream house!

Why it is the right time to buy your dream house!

If in the past few months, you have been thinking of taking the plunge and investing 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 a 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 the 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 around 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 several 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 with investing in such a property!

Market is buoyant
The realty sector and the builders are optimistic this time owing to limitless options in affordable housing. The market is ready to meet the 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 construction materials and labor have increased; still, the builders are trying harder to lure more and more buyers, making the market extremely buoyant.

In conclusion, the current real estate landscape presents a favorable opportunity for individuals considering purchasing their dream home. With attractive rates on fixed-rate loans, relaxed pre-loan qualification requirements, and a growing inventory of properties, buyers have the chance to capitalize on the market conditions.

Seasonal discounts and incentives offered by developers further enhance the appeal of buying a home during this time. With the market showing signs of improvement and builders striving to meet the diverse needs of buyers, there is a sense of optimism and buoyancy in the real estate sector.

However, while the market may be conducive for purchasing a property, buyers need to conduct thorough research and ensure that they are making a sound investment decision.

Assessing factors such as local market trends, long-term plans, and budgetary considerations is crucial in determining whether it is indeed the right time to buy a home.

By weighing the available options and considering individual circumstances, prospective buyers can make informed choices and embark on the journey towards homeownership with confidence.
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