Timing the real estate market is the key to success and a sure shot way to book more profit. Well who doesn’t want to buy the best possible house at the best possible price? But when we plan to buy a new house, all we have in mind is its price and location. Remember, timing your purchase is equally important too as there are some months during the year which prove to be better time to buy a house than others.
Wondering which is the right time to buy your dream house in India? In this article, we will outline some of the best months or seasons to invest into a property.
Winter and Monsoon months are the Awesome
During winters, as the temperatures fall to their all time low, the list of potential real estate buyers also stoops down. Similarly, in monsoons is also the best time to buy a house. During rainy season too, the house hunting mechanism comes to a halt. During these times, to clear up their inventory, builders come out of their comfort zone and become more flexible with the rates of their properties and offer huge discounts to home buyers. You must try to exploit these offers to strike the best deal.
Cash-in the Festival Sales
As soon as the festive seasons sets-in, most real estate developers start offering freebies and discounts on the purchase of a flat or property. Even banks offer festive fervors by offering easy loans and low interest EMIs. If you are looking forward to buying a property in India, it is best to cash-in the festival discounts and buy the property of your dream.
“In addition to the discounts, buyers should also check the credibility of the developer, approvals, title of the property, his past projects, and delivery timelines. Compare them with other properties of your choice and their rates and choose a property that works in your favor.”
Benefit from Off Season Discounts
There are various months in the Indian calendar during which people avoid buying new houses, vehicles, furniture, clothes and more. But these are also the times when home sellers and real estate developers offer exorbitant amount of discounts due to poor business activity. So, if you are not superstitious or come from different religious beliefs, then use this time to your advantage and buy a property that matches your needs.
Your house is the biggest purchase of your life. If you are looking to get maximum bargains while making a purchase, it’s best to cash in the festive discounts and off-season sales. Also you must carefully study the market conditions to speed up the whole process.
Carefully Study the Markets
Real estate market is not always the same across India. This means that not all states experience the same peak and off-seasons for the sale and purchase of property. While the rates of property in North India might be low during winters, it might be a favorable time for real estate developers in the South of India. So, study the real estate market closely and venture out to buy a property only when the prices of property in and around your area are low.
Tips to Strike the best Deal while Purchasing a Property
To strike the best deal with the home owners or real estate developers:
- Zero on the best properties as per your requirements.
- Negotiate with confidence.
- Don’t deter from venturing out during winters or rainy season.
- Carefully inspect the property to identify pain areas that could be used as your negotiating points.
- Put your best real estate agents to work.
- Learn how to offer a price lesser the selling price.
- Thoroughly study the market to know the average rate of property in your area.
- Be flexible with the developer or home owner regarding their needs and requirements.
The best time to purchase a property really depends upon what you are looking for. However, these tips and tricks can help you translate your purchase into a best deal.