Monsoon! Inauspicious Or Auspicious To Buy Residence

Although a land search during monsoon season could be challenging with potholes, mud, puddles and traffic jams across the city yet it is a good time to clinch sale transaction.

In India, the monsoons stand for a lot of more things. Usually, people prefer to stay indoors as it sets the perfect ambience for sipping a coffee or tea while watching the black sky from your window. It is not the perfect setting to undertake a site visit to a land as traffic jams and potholes discourage you to venture outside.

However, experts are of the opinion that are several  reasons why rainy season could be an deal time to strike a deal as residential sales have been slow for the past three to four years. In the first place, overall demand tends to be gloomy, since a majority of potential residence seekers are averse to conduct site visits and home inspections while rains lash the city, shares Kishor Pate, CMD-Amit Enterprises Housing Ltd. On the other hand, savvy residence purchasers are able to strike good deals with sellers, on account of subdued demand.

Perfect time to negotiate: Monson is always deemed to be lean season. This, coupled with the fact that most Indians consider it as an inauspicious time to purchase real estate, gives purchaser an advantage over others. Thus, in order to boost sales, planners launch a good number of deals, offers and relaxed payment terms. As a result, for a residence buyer, this is the time to bask in the glory of discounts and best offers. These discounts can range from anything between 5 and 15%, depending on the city and region.

Choosing the best locality: Monsoons across the city expose the traffic conditions of any region. Thus, a residence purchaser can best evaluate connectivity, road conditions and commuting of any given locality during the monsoon season. These are features that help in the assessment of land location;neighborhood and commute time from various points such as work, school, etc. adds Mehta. This kind of knowledge is very important to prospective purchasers who are unfamiliar with the region.

Special rates on home loans: it is not only discounted land prices which present purchaser with an advantage during monsoons. Even banks and other leading institutions generally come out with special offers on the home loans in this season. Even if no formal offers are announced banks will tend to be more willing than usual to settle on their charges and interest rates on home loans.

The right time to inspect land: for purchasers who have had their eyes on certain shortlisted land but have not taken the plunge so far, the monsoon period is the perfect time to make a final inspection and close the deal. The condition of the region and the residence also shows how the unit will be in few years down the line and how will that affect the resale value. This is so perfect time for the watchful investor as he gets mentally prepared for buy. In other words, the monsoons are the ideal time to judge the embryonic investment value of new land as well as investments on repairs that would need to be made in resale residence.

If leaks and seepage are discovered before closing the deal on land, the buyer can’t insist that the required waterproofing and other associated repairs are carried out by the seller before signing on the dotted line.

Hence, experts share that monsoon period is probably the best time to make one’s land investment in India. Having said that, for an end-user, ay season or anytime is the best time. The current environment is most lucrative due to slowdown in the last span that has resulted in the moderate coasting of lands.