Thinking of investing in real estate but feeling overwhelmed with the unanswered questions in your mind?
Here are a few easy pointers to get started - start with the timing. One of the prime factors that can
help with the decision is the timing. Certain time frames in the year are far more opportune for an
aspiring homeowner given the changes in pricing or variety of options to pick from.
The summer break is the best time of the year for most families to shift homes if necessary and families rush to the finishing line of choosing, closing and acquiring the new home during this season. The urgency is almost electric at this time of the year and sellers too choose to close deals swiftly. The only drawback of this urgency is that it raises the demand of the properties and thereby affects pricing and competition
A high credit score can make the loan approval process much faster, thereby reducing the wait time and the stress you may feel when trying to secure financing.
In India, July through to September is usually washed out with the monsoons and may not be particularly conducive to house-hunting or shifting. However, if you are determined to find the home that you’ve been looking for so long, it may be a good idea to continue your search through the monsoons. This is a good time to check for leakage in the property as well as the drainage infrastructure in the area. Shifting may well happen later.
Who doesn’t like a good bargain? September to December may be the best season for you to swoop in and buy that property you have been eyeing for some months. The Navratras and Diwali are considered auspicious times of the year for acquisitions and new beginnings with one of largest investments you may make for the family. Sellers are more eager to make the most of this festival buying mood and offer good bargains. It is important to remember that post the festival months, the listings may be harder to come by since sellers prefer to take them down and start afresh in spring. It is that final push to sell as many units as possible that may help you land a good home at a lower price.
It is a personal choice. Every buyer is unique with different needs and demands. and the right time is
subjective to your personal factors, financial conditions, market demand and locational dynamics.
What you need to keep in mind is - research, check for reviews and draw up your own list of pros and cons for the properties you are keen on.
Krishe Pearl
Krishe Avya