This Festive Season Grab The Opportunity To Buy Your Dream Home

Home buyers, unsure of when to plan their home purchase, often wait for the public holidays, which in India last from mid-October to mid-November. The period is considered a good time to invest in income. Wealth generation, with reports suggesting that nearly a third of property transactions in India take place during this time. Lucrative deals and plans set to boost revenue in fiscal third quarter. As tempting as vacation deals may seem, you should always avoid making split-second decisions, which is possible when you're equipped. With accurate information and exercise due diligence in all transactions.

While you should be on the lookout for profitable deals this season, you should also be on the lookout for deals that are too good to be true. Buyer's Guide will help you cover all aspects of buying a home during the period. Should You Buy a Home During the Holiday Season? Should I plan my home purchase for this holiday season?

Will it be profitable to take advantage of the festive discounts and offers on the market? Can I buy more for less? With these questions springing to mind, it's important to weigh the factors that make the holiday season a good time to invest in real estate. Generous Inventory this is the season where developers are finding ways to offload as much unsold inventory as possible.

As a result, markets are currently often full of options in all budget categories. It is particularly convenient for buyers looking at the affordable housing segment to make purchases as more than half of the unsold housing stock in India's nine major cities consists of units priced under Rs.45, 000. Holiday Deals and Discounts One of the main ways developers use to offload unsold inventory is by offering "exciting deals and offers" to lure in potential buyers. Plans not allowing EMI until ownership, relaxation of registration and stamping fees, modular kitchen or free parking, goods and services tax (GST) exemption and gold coins, among others.

Lucrative Home Loan Programs During the holiday season, customers can get cheaper loans with added benefits. Some advantages that banks offer are no processing fees, pre-approved digital loans, and no escalation loans spread across different categories. As buyer sentiment improves over the holiday season, banks are leaving no stone unturned to maximize home loan sales. Being able to get an interest rate that is lower than usual helps save a lot in the long run.

Salary benefits The Diwali bonus has long been a reason to encourage salaried middle-income homebuyers. With an increase in disposable income, you can buy more premium than you otherwise could. Pay the rest of the year. Sellers Retire Slightly The holiday season is also a time when sellers want to get rid of their properties as soon as possible.

You can take advantage of this onslaught of sellers and use your negotiation skills to maximize your profit margin. Things to know about commonly available discount offers if you're looking to buy a property during the holiday season, chances are you'll be inundated with offers, discounts and freebies. As lucrative as each of them may seem, there are hidden nuances you need to be aware of in order to make a truly profitable investment. You must weigh each offer separately, list its real long-term benefits, and then make an informed decision.

Discounts and Tax Exemptions

The most common offer offered during the holiday season is a discount on the price per square foot of a property. It's usually an attempt to get homebuyers to quickly finalize their buying decision. However, you must conduct due diligence. Before signing the developer-buyer contract at the discount rate to avoid fraud. Developers with projects under construction, a segment facing excessive delays in completion schedules and therefore facing a shortage of buyers, are most likely to reach such offers. Builders also offer the buyer the option of depositing money directly with them for tax exemption, rather than depositing it with a bank, which would make it taxable. The interest on the money deposited with the client is shown as a discount on the property price. This move can be risky as many builders tend to use these funds to fund other projects. Gifts developers often offer freebies like phones, laptops, cars, vacations abroad, free club memberships, or extra parking to attract potential homebuyers. Compared to the price of the property, these gifts are of negligible value. Don't let these flimsy benefits cloud your purchasing judgment. They should be treated as plugins. So when you find a property worth investing in, there's no harm in treating yourself to a few freebies.

Partial Payment

Under a grant program, a buyer pays a discounted down payment and the remainder is paid upon ownership. These programs are generally offered year-round for projects under construction, but their numbers multiply during the holiday season. The down payment is deliberately kept low to attract buyer interest. With instalment plans, the buyer is expected to pay the cost of the property in three or four instalments.

The first part is usually the lowest, followed by a 50-60 percent share in the second phase, usually during construction, and a small part in the later stages or owned. An attractive payment plan is one of the best deals you can make with your developer; However, beware of offers that are too good to be true. In general, construction-based payment plans prove to be the most profitable for both parties.

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