Buying a house, whether it's a vacation home in the green suburbs or an investment tool to augment your income, is a significant financial choice. Many homebuyers regard the holiday season as a fortunate time to purchase a house. However, with borrowing rates at a 15-year low and extremely favorable market conditions, one should not wait until the holiday season to invest in the home of one's dreams.
Developers offer various attractive plans for home buyers throughout the holiday season. If you are thinking of buying a house, the holiday season is the perfect time to do it. You can obtain various offers from developers on house purchase.
Here are some reasons why you should buy a house right now.
1. The Joyous Season Has Arrived
Purchasing a home is one of the most expensive and significant financial decisions one can make. People wait for an auspicious moment to purchase their ideal home, and nothing compares to the splendor of Diwali. Purchasing a home during this time is thought to offer buyers good fortune, health, and happiness.
2. A new project has begun
A number of developers announce new projects around the holiday season. This is an auspicious time for any launch, according to them. On the other hand, many property purchasers choose to make large purchases at this time of year. As a result, the holiday season benefits both real estate developers and home buyers.
3. Special Offers
During this season, many developers come up with various plans and offers to entice customers, convert them into prospective buyers, and reach their sales targets. Schemes might range from financing to giving stuff away for free.
4. Prospects for the Market
The residential real estate market has been positively disrupted throughout the last decade. Many reasons have contributed to the housing market seeing special demand, ranging from government policy to developer-led incentives.
RERA, which has significantly increased transparency between purchasers and builders, as well as decreased stamp duties in some states and favorable tax incentives, are examples of government-led initiatives says Annuj Goel, MD of Goel Ganga Developments.
Developers now supply a variety of services to customers based on their demands and lifestyle goals. As a result, homebuyers have a variety of attractive choices to pick from.
5. Customer-centric advantages
It's important to remember that the housing industry is primarily driven by end-users and designed to benefit them. For example, contrary to common opinion, RERA's rules are designed to protect the interests of homebuyers.
Several reputable banks recently lowered their interest rates to below 7%. The low-interest rate system reduces the financial pressure of property investment greatly. While offering loans, a few banks have also cleared the occupation-related surcharge. As a result, a greater segment of homeowners intending to invest in a property can now receive financial aid.
If you have the perfect location then a residential property can be an appreciating asset. Purchasing a second home offers numerous advantages. It ranges from providing consistent rental income to increasing the value of your investment portfolio says Anuj Goel Ganga.
Buying a property, unlike many other purchases, is a long process with numerous revisions and requires cash up front. As a result, one must carefully plan their financial goals and guarantee that the funds for a second home does not jeopardize them.
Before taking the plunge, make sure you have a clear goal in mind for the property — is it a rental, a holiday home, or a place to retire? Every goal comes with its own set of aspects for the homebuyer to consider added Anuj Goel Pune.
While the current market is ideal for buying a second home, purchasers must consider the above mentioned aspects before making a final decision.
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