Pros And Cons Of Buying A House When Real Estate Market Is Hot

The last quarter of the year is considered the best time to buy a home in India. Festivals and low rates together bring home buyers in the market during this peak season. If you are still in doubt, know the pros and cons of buying a home during peak season. If you’re focused on the right time to buy a house, consider these facts.

More Options

When the year comes to an end, there’s more inventory you can see. Most of the projects start around the rainy season and there is always a positive environment during the last four months of the year. So according to the trends, more properties appear during the season giving you more options.

Growing Competition

With supply, demand also increases during these days. This can be considered as a con. Because when you get more homes to choose from, you also have to secure a deal before someone closes it. This season also brings potential buyers who didn’t take decisions during the previous season and were waiting for more options to choose from.

Perfect For Families

This time, families choose to buy a home for several reasons. The biggest reason is moving in becomes easier. Those planning to move into another city or getting their kids admitted to a new school start house hunt during this season because the process goes smooth and they get plenty of time to search houses. Many families purchase a house prior to the start of the schools. The standard time till closing remains between 30 to 90 days, so they can easily find the right properties in the market.

Bad Decision Making

Some home buyers feel a pressure before the new calendar starts and as a result, they take decisions in hurry. During this season, the offers and lucrative deals allure homebuyers to invest money in housing projects. Those working with professionals save themselves from making any decision in hurry, but those who fail to choose a right real estate developer and agent make hasty decision and regret.

Weather Remains Favourable

Home shopping in rainy season or summer is the worst. It’s not the right time to check properties, but winter, everything becomes so fresh and the sunshine doesn’t bother much. You can check a house in the best light possible during this season and also the surroundings.

You Are All Set To Start

People get to see a clear picture of what they achieved throughout the first three quarters of the year and how the fourth quarter is going to be. From the finance point of view, potential home buyers get a clear idea about how they can plan their home buying strategy and they also learn more about their affordability. During the season, home loans and other necessary services are easily available. However everything depends on your affordability, but the schemes and a clear picture of finance help homebuyers make wise data-driven decisions.

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