Why should you buy property Now?
An increase in urbanization growth, per capita income, and sustainable middle-class households, all combined led to growth in demand in this sector. Just like any other investment what drives real growth are powerful fundamentals and the Real Estate industry is no exception. During this unstable and chaotic time, the one place that offers comfort and safety is the HOME.
This Pandemic has made it realized too many minds that the most important thing in life is your own home. Owning a Home is always more cost-effective than Renting! There are many costs involved in buying a home, such as the down payment, appraisal fee, and homeowners insurance. In Cities like Vadodara, if you were to compare a rental property and the monthly mortgage of a comparable home, the cost of ownership is typically much less.
Pride of ownership is probably the number one reason people enjoy owning their own homes. Buying a house means something different to everyone. The house becomes a place where we celebrate the milestones of life. Our homes allow us a comforting place to store our treasures, make memories, and break bread with friends. We raise our children there, rock our grandchildren, and live our lives through good and bad. It means you can paint the walls in any color you desire, turn your music up, attach permanent fixtures, and decorate your home according to your own taste.
Homeownership also gives you and your family a sense of stability and security. It is an investment in your future-equity that will grow with you consistently and the longer you are in the home.
Due to the Pradhan Mantri Aawas Yojana and RBI repo rate deduction, this sector turns up the safest and necessary investment we all need. In fact, Niti Aayog estimates the Indian real estate sector will reach $220 billion by 2025 from the current level of $120 billion.
In the purchaser market not only prices are low but various discounts, offers & subsidies as builders want to encourage their sales. RBI also deducts the repo rate to 4% bringing down home loan interest because of a pandemic.
When it comes to asset classes, real estate has always been a good bet – be it for regular income in form of rentals, or appreciation in capital value. The inherent demand in real estate is directly linked to the growth of GDP, which makes it the best investment option.
So, given the above benefits and advantages, if you’re thinking of buying a home, this is the best time to buy or invest in properties till March 2021.
– Maitreyee Mandlik