Once again, the festive fragrance is filling the air, and people are scuttling around, tidying their homes and indulging in expensive shopping in celebration of this exhilarating time. Considered to be an auspicious time of the year, these months bring the ideal excuse to invest in something precious, long-lasting, and big. Nothing spells out all three like an investment in real estate!
Making the most of the most awaited time of the year
Festival season is a propitious time of the year.
What better way to make this festive season momentous than making one of the most significant and safest investments – real estate investment! The reasons are many and compelling.
The abundance of offers and discounts
The time from October to December is the time when developers offer a host of attractive offers and discounts on properties. As a homebuyer, you can expect discounts on property prices, brokerage discounts, travel vouchers, tax exemptions, and benefits on registration fee and stamp duty, among others. This is a limited period offer and could be your only chance to purchase a property that would otherwise be outside your budget.
Home loan offers
The attractive offers and discounts are not just limited to property prices.
Lending institutions are also keen on stirring up dormant desires of home-buying by offering concession on home loan interest rates, numerous freebies, among others.
The festive months are the ideal time to apply for a home loan and purchase your dream home.
New project launches
As much as homebuyers want to use the festive season to invest in something valuable and lasting, project developers wish to make the most of this opportune time as well.
To this end, they open up their inventory and launch new projects or begin fresh phases of existing ones. While they’re looking for high-velocity sales, you get a wide portfolio of novel and exciting projects to choose from – win-win!
The depreciating rupee
There has been a sharp appreciation in the US dollar, and this is another top reason to invest in real estate during the festival time, both for NRI and domestic homebuyers. For Non-Resident Indians, the falling value of the rupee makes home purchase an affordable venture, and for domestic buyers, the high value of the US currency will likely increase the prices of properties in the near future. Hence, the ideal time to invest in your dream home is during the festival time.
Rise in disposable income
To amp up the celebrations, employers generally offer their employees with appraisals and bonuses during the festive months. This works as a cushion for further supporting the dream of home purchase during this time of the year. The extra income can act as a means to pay home loan downpayment or act as a support towards repayment of the loan.
Planning on taking a loan to fund your dream home purchase? Then, make sure to check your eligibility and plan out your EMIs in advance to determine your affordability. You can use a useful online tool such as the home loan EMI calculator to plan out your monthly EMIs. Also, do not forget to compare between lenders to secure the most lucrative interest rates.