5 Top Reasons Why ‘Now’ is The Best Time to Invest in Residential Properties
The world has witnessed all kinds of crisis. World wars, economic depression, pandemics etc. We have been through it all, fought like brave warriors and come out quite successfully. Like Champions! Isn’t it? The Corona pandemic isn’t any different. We are successfully going to overcome it and have been able to control it to a great extent.
With the lockdown being eased, many of the industries are resuming their everyday activities with proper social distancing. People aren’t yet sure about how things will unfold in the future.
The difficult time has presented us with an infinite number of opportunities, so that we get to think out of the box to survive and grow.
Make Your Dream of Buying a Home Come Alive: Has it been your lifelong wish to buy your own home, but you couldn’t afford it? Well, this is the best time to think about it again. The real estate industry has been strengthening over the past 5 to 6 years due to multiple reforms by the government. It is considered to be an asset because of its multiple benefits.
If you are planning to buy a home, you must make it a point to buy property only from reputed developers, especially now, you must find out the best available options, so that the investment made turns out to be profitable.
Have you put on your thinking caps and are thinking too hard about some of the best reasons to invest in real estate during these trying times?
Here are Some of The Top Reasons:
Sense of Security: Uncertainties are becoming quite prevalent, hence people are constantly in search for security. Stats from a recent report by the Anarock Group suggests that 92% of the general public are willing to possess some or the other physical asset. While these assets might obviously not yield any immediate returns, it is a safe investment during these times when work from home and individual safety have become the normal mantra.
Improved Performance Over Other Assets: These are difficult times and the scenarios are completely uncertain. At this point in time, residential real estate is the most secure investment option because it provides the maximum amount of stability. The stock market crash left people worried and they did not want to stake their money in purchasing volatile instruments. Fixed Income Options don’t seem attractive even after immense rate cuts. Higher Returns can obviously come your way as soon as the economy begins recovering, which makes it the best time for customers to invest in the home of their dreams.
Exciting Offers by Developers: Developers nowadays are offering exciting schemes and relaxed payment options specially for home buyers, so that they get the chance to invest in their dream homes. The pandemic has led to a combination of exciting offers and lower interest rates on properties that make investing in residential properties thousand times easier than before.
Suitable Home Loan Rates: The residential property prices in India have been at a standstill for the last 5 to 6 years making them absolutely affordable. The present market conditions are all favorable to purchase a new house as the home loan interest rates have fallen down and are at an all-time low.
The huge fall in home loan interest rates after the dangerous COVID situation is the best opportunity for all willing people to buy a house. More than that, the Reserve Bank Of India has just announced that the REPO rates have fallen down as well, which makes home loans even cheaper. Isn’t that something to be really happy about? It will end up bringing about more and more investments that would boost the sector and lead to an increase in the cash flow. The situation has become such that the Indian rupee is depreciating against all other international currencies, making the Indian properties attractive for NRIs. This is why Indian properties have begun selling like hot cakes. They are so much in demand.
A Positive Growth in The Value Housing Segment: The new-age millennials have begun thinking in an entirely different direction. For them, ‘home ownership’ is of great importance. The residential sector is all ready to begin moving on a new journey because of these new-age millennials.
The Corona Pandemic hasn’t been able to spoil the demand for homes that provide value for money. A brand new report also shows that millennials seek value in terms of buying property, with more than half of them wishing to own a home in the next 2 to 3 years. Well designed homes are in high demand amongst millennials and young couples. They put their entire heart and soul to it as it turns out to be a great first investment and offers a sense of security along with aspirational amenities.
Implementation of PropTech: In the new world of digital transformation, even the real estate industry does not lag behind. It will evolve and adjust to the new normal only through digital transformation. Developers are constantly experimenting with new technology to improve the prevailing customer experience. They can now experience an intuitive journey without any restrictions or hassles. From researching, to booking and purchasing, you can do everything on the company website from the comfort of your homes. These facilities have all been implemented for the buyer’s convenience, so that the buyer does not have to visit the actual site and everything can be carried out from home. State-of-the-art AR/VR tools aid home buyers to take a virtual tour of the topographical aspects and make the best decisions.
These little efforts put by the developers strengthen the trust between them and their customers, which motivates them to make the purchase. There is a lot of positivity in the residential real estate scenario after the Covid 19 pandemic, as more and more people have set out to buy homes even at this time.
Whatever the case be, if you are one of those who wishes to buy an apartment, you must first make yourself aware of the trends around the industry like the REPO RATES, RERA POLICY, TAX RULES etc. If your income is secure and you are financially well off with a lot of savings, you can think about an investment in property around this time.