This summer, home-buying environment is going to be changed significantly, and you can still take advantage of the time you have for house hunt.
The time between March and June is known to be the most important time for home buyers because the budget comes into effect and the season changes the real market scenario effectively. The time is very suitable to invest in luxury properties in suburbs. The weather and these changes put an ideal scarcity in visits of potential home buyers in your desired neighbourhoods making it the right time to make an investment decision.
While some homebuyers don’t show up during the season, others take advantage of the time and explore properties in more areas to strengthen their buying decision. Here’s how the Indian real estate market is going to be changed this summer.
As the budget comes into effect, many property owners try to decide on the properties of their choice before April 1. As many homebuyers do not want to wait for the surprises the government can bring at any time.
In such times, the market becomes more suitable for potential buyers who have not yet started the search or haven’t made any purchase before the month of April. So if you are home-hunting in summer, there will be typically less number of buyers.
The same may not always apply to the properties that are high in demand. For example, Luxury villa plots in Whitefield, Bangalore or in Thanisandra, Bangalore which are some of the prime locations for luxury real estate, the properties are high in demand, but you can still find the right deal in these areas because some leading real estate developers are such as M1 Homes already active in the market.
Why it makes sense to buy a property during this time because a majority of homebuyers look to get settled well before the school year starts. The time is also great for those who do not have school-kids, because they won’t be finding a high competition among buyers as well. And if you are planning to buy under construction properties or plots, this time brings golden opportunities.
The time after budget is also very important for home-buying because when you decide on a neighbourhood, you will consult with the real estate developer about when you’re going to get the possession. Here you need to make sure that you are with a reliable real estate developer who has a good track record of delivering projects as per the promised deadline.
In this way, you will not have to disturb your regular life just because of this new investment. Home buying should always be a pleasurable experience, so make sure you do things carefully. The market is ever changing and the summer time is undoubtedly a highly rewarding time in many ways.