There are many factors that should inform the consumer’s decision-making process when it comes to real estate investments. Location, pricing, and seller reputation top that list. Features, size, and layout, as well as return on investment, are equally important factors. What is often overlooked are the time-sensitive factors that need to be additionally considered while buying a home.
Check out these situations to understand why timing really counts in the real estate market.
Although not apparent, there are definite advantages to buying real estate during the monsoons. This is the best time to gauge whether the property has problems related to leakage, seepage, and drainage. The monsoons also reveal if the property is in a low lying area and prone to flooding. Especially in areas with heavy rainfall like Goa, the quality of the construction is put to the test and will help you quickly decide which properties in Goa you should strongly consider and which should be crossed off the list. As the monsoons are a lean period most sellers are open to negotiations and price reductions. Checking out luxury villas like those by Kasu will also make you realize how beautiful a monsoon retreat can be.
Contradictory as it sounds, there is merit in investing in real estate in the current situation. An economic slowdown is actually a very good reason to buy real estate if you have money to spare since it will cater to your investment needs of portfolio diversification and income generation. During a pandemic, there is obvious stress put on several business sectors which leads to an inevitable drop in the value of stocks and shares. Real estate becomes the safest asset to invest in when the stock market is doing poorly. Besides this, real estate is less sensitive to the volatility of the stock market and can offer more flexibility than stocks and bonds and may even outperform them. One of the main reasons to invest in real estate and especially in the luxury market is the opportunity to generate a predictable and consistent rental income. Besides being a safe haven to escape to during the pandemic, buying a luxury villa in Goa like those offered by Kasu ensures that you have smartly invested in a market that will always exist in one of the most favored states in India.
In India real estate investments are not just calculated financial transactions, they are often also governed by emotional and religious sentiment. Commencing from the festival of Ganesh Chaturthi right up to Diwali and often stretching all the way to Christmas, this prime time real estate buying season is considered most auspicious to many people and the harbinger of prosperity. The days of Dhanteras and the nine days of Navratri are the top favorites. This buying period is extremely time-sensitive and it is imperative to take advantage of the great deals that may not get offered during the rest of the year. The first advantage of buying during the festive season is that builders and developers are aware of this traditional market phenomenon and roll out some really lucrative offers and add ons during this time. These include brokerage discounts, cash discounts, benefits on registration and stamp duty payment, travel vouchers, flexible payment options, and tax exemptions. The second main advantage is that banks and lending institutions put out their offers on home loans during this time as well. From concessional interest rates to waiver on processing fees and faster processing of the loan, this is the best time to be walking into a bank. Besides the incentives during this special period, make sure to pick projects by builders with good reputations and track records of quality, on-time delivery, and premium amenities. The festive season definitely creates a win-win situation for both the buyers and sellers whether you are buying your first house or your luxury holiday home.
With the monsoons waning and the festive season just around the corner, it’s time to brush off the lull that the pandemic brought with it and dive headfirst into the luxury real estate market in Goa. We are confident that you will find your dream home!