HOME BUYING POST COVID-19
What is Driving People towards Planning to Buy a Home Post-COVID19?
It is not every day that experts announce that it’s an excellent time to buy a real estate property. But given what the world is going through, it has come as a surprise this time around. With most people running out of cash and dwindling incomes, what is the driving force behind people claiming it to be the right time to invest in your dream property? Let us find out.
We aren’t facing a 2008-like crisis
The year 2008 was a complete mess. The global financial crisis took away purchasing power from the people, and they had no other option than to sit and gaze. Fortunately, the Novel Coronavirus hasn’t had the same impact. Also, the market has shifted from being seller-dependent to buyer-dependent. It has allowed buyers the freedom to choose. The market today is much more favourable to acquire something new, and the uncertainty levels are far lower.
The volatility of other assets
The pandemic has caused most other viable investment options, such as stocks, jewellery, mutual funds, and others to erode. Many listed organizations have lost up to 30 per cent valuation, and the uncertainty looms large on their head. The real estate has been able to hold its own during the difficult phase. They are still experiencing continuous demand from the buyers, albeit at a lower rate.
Reduction in property prices
It is a known fact that the prices of the property aren’t going to tumble like a stock any day. With the population continually rising, it is only expected to soar higher. The sluggish growth in the first nine months of the pandemic has forced the prices of real estate to go down considerably, making it a viable investment option.
Lower interest rates
RBI’s repo rate cuts have ensured that the current home loan rates linger around 7 per cent. If we compare, it was around 9 per cent last year. It means that you are getting a significant advantage if you opt for buying real estate using home loans. If you have a good credit score and aspire to own a property, it is probably the best time for you to take your best foot forward.
What can you do?
It doesn’t matter if you are looking for capital appreciation or for merely owning a place for dwelling, the next few months are the best time to invest in a home in the foreseeable future. If you have enough savings or can afford a loan, there is nothing that should stop you from making the down payment.
Why choose ESTATE.ONE?
Did you know the average touchpoints in a home buying journey can be over 120? How about the pain points? Well, at Estate.One, we have an action plan for each of these interactions, pain points, so your home buying journey is as pleasant as ever. To enjoy hassle-free home buying with Estate.One, mail us today to connect to the right community you deserve – connect@estate.one
Related Posts
HOME BUYING sees Uptrends
Housing Sector Uptrends in Top Indian Markets after Months of Slack The festive season is back in India and is bringing about some good news to the real estate companies. After suffering from a pandemic-induced slack for the significant part of 2020,
Why is Buying a Home still Glamorous as an Investment?
Why you should buy a home now When we go down the memory land, not more than a decade back, the real estate industry was all about the seller. He had the upper hand, and the buyers had no other option
