When is the Right Time to Buy a Home in India?

May 19, 2022 | Indextapadmin

If you’re planning to buy a new home, you need to make sure that you’re not only financially ready but you’re prepared mentally as well. Often, potential homebuyers usually end up waiting for the festive season, which usually spans between mid-October to mid-November in India, to purchase a new property. 

This period is believed to be an auspicious time to invest in income-generating assets, with one-third of the real estate transactions taking place in this country around this period. Apart from being the optimum period to buy a house, this duration also gives buyers a number of options as developers come up with attractive offers and schemes in a bid to try and get you to finalize the deal. 

The festive offers may across as highly lucrative but you must only make a choice after taking all the information and exercising due diligence in all transactions. In the festive season, here are the many deals you will encounter that will make your home buying experience easier on the pocket: 

Generous Inventory 

During the festive season, real estate developers find ways to discharge as much unsold inventory as possible. Therefore, the markets are typically flooded with options in all budget categories at this time. It is convenient for buyers who are taking a look at the affordable housing sector to make purchases such as 2 BHK apartments in Vasai. 

Festival Discounts & Deals

One of the main ways for real estate developers to unload the unsold inventory is by coming up with lucrative offers and deals to draw prospective homebuyers. If you’re looking ata 1 BHK flat in Santacruz, one of the exciting discount offers that developers provide is to come up with convenient payment plans such as no EMI until possession, lessening the registration & stamp due to fees, free modular kitchen or car-parking as well as exemption of Goods & Service Tax (GST), gold coins, among others. 

Attractive Home Loan Schemes 

During the festive season, potential homebuyers looking at properties for sale Mumbai can avail of less-expensive loans with extra benefits. A couple of the perks that banks provide include waiving processing fees, pre-approved digital loans as well as loans with no increase in interest rates that are spread across numerous categories. 

Since buyers show an inclination to make purchases during the festive season, banks make an enormous effort to increase home loan sales. If you’re able to get a home loan interest rate that is lesser than the usual, it can help you save a lot of the money in the long run. 

Salary Perks 

The Diwali bonus has long become the reason for happiness for the salaried middle-income segment homebuyers. With the rise in disposable income, you will be able to make a more lucrative purchase than you would otherwise be able to afford during the other months of the year. If you’re looking at the best homes MMR, the Diwali period would be ideal for finalizing the deal. 

If you need help in looking at the best properties MMR, visit IndexTap to get an extensive line-up of residential homes. 

Visit IndexTap for more such exciting analysis and details on real estate.