When is the right time to buy a home? The answer is now.
Undoubtedly, now is a favourable time for any home buyer looking to purchase a property for personal use.
An obvious reason is the massive supply of ready-to-move-in properties and the abundance of options in all housing categories. For instance, there remains a substantial choice regarding 2BHK flats in Bangalore or apartments in Electronic City. There are several apartment projects available in Bangalore where you can buy and move in now.
Stable Property Rates: Property rates have remained considerably stable across cities. Even for those with a modest budget, their choice is no longer restricted to under-construction apartment projects alone.
In addition, the government has also introduced various incentives for first-time homebuyers, especially in the budget homes segment.
Abundance in Choice of Projects: Ready-to-move-in apartments and flats with completion certificates remain a bankable choice on any given day. They are also the most tax-efficient proposition for end-users.
The abundance in the supply of ready-to-move-in apartments or flats also benefits homebuyers—they can experience a sense of instant gratification, besides aversion to risks. A homebuyer can check out many such apartments in Bangalore or flats in Electronic City.
RERA Assurance: The introduction of the Real Estate Regulations Act (RERA) has brought in a certain level of transparency in the realty sector. For example, developers can no longer engage in outright misleading promotions. A home buyer can feel assured while putting their money into an apartment or flat project.
For those who prefer to buy or invest in an under-construction apartment project, it is advisable to refer to the RERA website first and foremost. Check out projects being developed by developers of repute who have a proven track record and remain committed to the completion of projects as per timelines.
Also, be on the lookout for ready-to-move-in projects, which remain a reliable bet on any given day. There are many flats for sale in Bangalore that comply with the regulations laid down by the RERA regime.
Remain Due Diligent: The fact that the current market distinctly favours homebuyers should not result in rushed purchase decisions.
It is equally important to pick the right developer and apartment project besides fully understanding the value proposition.
Having said that, it is equally important to pick the right developer and apartment project, besides fully understanding the value proposition.
In the case of financial schemes, a homebuyer needs to understand exactly how they function and what kind of financial commitments they imply.
Also, no purchase decision should be made in haste while buying a property. Always look into other aspects such as location, utility supplies, sufficient social infrastructure, and public transport options.
Exercise due diligence when it comes to zeroing in on under-construction projects. Be on the lookout for healthy, ongoing construction activity with considerable on-ground completion progress. Also, check out the complete legal sanctity of a project before making that final decision.
Summing it Up
Currently, for those who have been in a fence-sitting mode, there are compelling reasons to finally decide to buy an apartment or flat.
As far as end-users are concerned, they can look at apartments in Bangalore or flats in Electronic City to identify the best options available at their disposal. As already stated, the right time to buy a property is very much now.