In this crucial situation of Coronavirus people wants to own a house or apartment is way better than living in rented rooms. There are many reasons for owning a Flat but the first reason is that Flat ownership is the pride for the people. Opportunities don’t come very often to knock at the door. However, when it comes, you’ve to be ready to develop it to the fullest.
Currently, the Coronavirus has affected almost every industry like agriculture, automobiles, education, banking, companies, including real estate. Keeping it in mind everyone is in a doubt is this the right time to buy a Flat or invest in buying a property in Bansdroni? People are also concern about that the significance of having real estate, as an asset to their investments that can give returns compared to the highly unstable stock market which comes with increasing risks.
During this Corona pandemic residential real estate is with lower interest rates and has a buyer’s market. When there are more Flats on the market than the buyers, the buyer’s market occurs. At that time, buyers have more negotiating power to invest a piece of property because they knew that they can easily move on and get their desired options met on another property.
There are 7 reasons why this is the right time to invest in property. Find it below.
1. Some factors regulating the market
Nowadays the residential real estate market is comparatively better. While in the previous years it was a seller’s market, but now it is a buyer’s market. Currently, people want to get their own Flat & get the pride of ownership. Also, there is a remarkable reduction in home loan rates. All banks are in optimum condition to lend money to the buyers for home loans.
2. Home loans with lower interests
As the repo rate reduction occurs by the Reserve Bank of India (RBI) to the commercial banks, the home loan interest decreases. The buyer can get a home loan to achieve the dream home with lower interests. But it comes with a customer risk which only offered to those customers whose credit score must not be less. One should have improved the credit score to get the best offers with lower interest rates.
3. Real estate is an asset
As we know real estate is a stock asset, which can give returns to their investments. Comparing with the unstable stock market which comes with increasing risks real estate is a better option. It will remain with you in the future also. Also when someone trying to use that it will give better returns.
4. Availability of property at remarkable prices
Currently one can buy his own dream Flat or property due to the availability of housing plots at remarkable prices. It is the best time to buyers to buy property because of the lower prices of properties available. Some sellers are also ready to negotiate the prices. The buyers have another option to find housing units in any location.
5. Government support
In the past Government had announced fiscal & other packages in good time. But people know that it is limited. As we know, it is the middle period of gracious interest rates which is much lower.
In the past years during the crisis, the property market is very high with high values and lower availability in plots. But nowadays the buyers have high values and the interest rates also lower for which they can be able to buy plots. Currently, it is accelerated by the people due to the COVID-19 pandemic. Because all the people wanted their own Flat rather rented rooms.
7. Better & Easy Deals
As we know it is a buyer’s market. Buyer can get lucrative deals occurs and also negotiated by the seller. It is a very good thing. Also, the buyer can get other facilities for car parking, gardening. The best thing is that lower interest rates of home loans. These will surely influence the demand for real estate assets with reasonable prices.
The above reasons are the most likely reasons to stimulate the buyer to buy a stock asset which gives returns in this Corona pandemic. It will help people to get their homeownership. People don’t want to stay in rental rooms during this Covid-19 situation. So be ready to get the dream home with lower home loan interest in this currently spreading Coronavirus to stay safe & healthy.
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