Published on November 10th, 2017 | by admin0
When is the best time to buy a new home? Handy tips for you
If you have plans to buy a new home, you should definitely consider the below factors to make purchase of a dream home. These are handy tips that can save you time and money, among other things.
If you are looking forflats for sale in Bangalore,Pune, Navi Mumbai or any other metro cities of India, you should definitely opt to buy during festivals. Reason for this is that real estate dealers launch more projects at the time of festivals than during any other time of the year. Thus, whether you want a mid-size house or a luxury dwelling, you can expect plenty of options to choose from.
Many times, realtors reduce the amount of down payments during Indian festivals, like Diwali, Dussera, Holi. Other than this, depending on the property owners and realtors, buyers may receive any one or all of the following benefits when they choose to buy flats/apartments during festivals-
- Benefits related to stamp duty and registration fees
- Cash and brokerage discounts
- Free car/two-wheeler and parking facilities
- Free membership to the society’s club
- Free appliances and home amenities
Special Offers with Properties
With the real estate market consistent flourishing today, you will find a majority of real estate owners giving special offers on buying properties. These may be anything, such as a complementary HD TV, a car or a travel package. Thus, before you move ahead to finalize a deal for buying homes, you should make sure to check any special offers and grab the opportunity as quickly as possible.
Under-construction Vs Ready-to-Move Properties
Next, you have to focus on ready-to-move and under-construction properties available in your area. Both of these options have their own benefits. For instance, if you go with under-construction properties, you may expect to receive relatively higher returns on your investments because of extended window period in between the phase of buying the property and its delivery timeline.
Hence, in this case, if you opt to sell your property closer to the time of receiving possession, you stand a good chance to achieve healthy appreciation on the capital investment. In fact, an under-construction home gives win-win situation to both sellers and buyers. This is because, sellers already get their customers and that too before they lay the foundation of property, while buyers receive benefits in terms of the cost.
Home Loan and its Interest Rates
Finally, you should check the home loan offers available with properties. Particularly, you should check the rate of interest associated with home loans, as interest rates have a prime role in case of the exact amount, which you have to pay on the home loan. If you opt for lower rate of interest, you obviously have to make relatively less amount for the house during the entire tenure of your home loan.
Positive thing is that during the previous 9 to 12 months, interest rates on home loans, particularly for small loans have reduced significantly and it results in lower EMI. When the rate of interest remains low, you should make sure to take benefits of the low interest rates.