The Lakshmi Puja and the Diwali celebrations signal the nearing of the year-end . The festival season, however, stretches till the year-end and this is a time when many people make their planned investments. It is believed to be a good time to invest, and property too is acquired as an investment in this season. Here are a few reasons why this season is an opportune time to buy your dream house:
This season is the best time to buy a house from among the numerous enticing property deals offered by developers. There are special booking offers within limited validity periods. If the deal fetches you a property for a few lakhs less, you have every reason to rejoice over your bargain.
This season is filled with optimism for the realty sector. With limitless options in affordable housing in various ranges for varying needs, homebuyers have a wide platter to pick from. With the realty market picking up steam, developers are expressing optimism. This season is an auspicious time for people who want to buy their dream house. Despite rising costs of construction and a general upward drift in property prices, buoyancy in this sector is largely anticipated.
Interest rate cut on the cards: The overall economy is recovering from the slowdown due to the high inflation rate and lower growth across sectors. However, an interest rate cut can lend an impetus to the realty sector.
A rate cut could increase the enthusiasm of buyers, especially those who postponed their decision of buying a house. Buoyancy in this sector will mean growth across all industries associated with realty. Consequently, the economic recovery will be much faster. It is expected that the central bank will cut the key rates and make investments in property more attractive.
The current scenario of increasing costs of living and general rise in prices across commodities can be described as high inflation. Investments that give very low returns like, say, 3% could be a financial disaster in times of high inflation. Over a period of time, only two investment avenues have been able to ride the tide of high inflation. They are the property investments and stock markets.
Property has appreciated manifolds over the years. Property also fetches income periodically in the form of rent. It is a good investment that yields lucrative returns over a long term.
A downward interest rate phase is an ideal opportunity to invest in your dream house. The stock markets are turbulent. Precious metals are peaking at very highs rates. In this scenario, the limitless realty sector options provides in the form of villas, vacation homes, apartments and plots. This auspicious season will be the right time to own a property.