Monsoon To Be Best Time For Invest In Property
Monsoon is the ideal time to judge the potential investment value of a new property. There are many reasons for why the monsoon is best time for House Hunting. During the monsoon season, property and its surrounding areas may be quite different from other seasons.
- Lower Rates:
For most of the Developers, the monsoon is usually a hard season in terms of sales. It's not only the weather, but also considered an inauspicious time about 2 weeks to make any big investment in. Buyers also wait till the Festive Season i.e. September - October. This is usually the period where such people will focus on to make property investment. So, in order to boost their sales, developers Offers 'Attractive Monsoon Discounts' and are willing to offer lower rates to genuine buyers.
" The offer of Discount varies from city to city depending on how it is affected by Monsoon. That is why discount in Mumbai is likely to be more than any other cities. Buyer can expect discounts ranging from 15 to 20% " Says Ramesh Pritmani, Managing Director of Navimumbaihouses Private Ltd., A Mumbai based Real Estate Company.
Banks and other lending institutions also come out with Special Offers on Home Loans in this Season.
- Locality And Infrastructure Of The Area:
Real Estate experts advise all Home Buyers to visit the construction site at least once before before finalizing property. Visiting a site in Monsoon when traffic is at its worst, in many places will provide an idea on the Water logging situation as well as transportation and access to the area.
Some Low-Lying areas that causes Flooding, leading to many damages can only be found during the monsoon. This information is useful for those buyers who are not familiar with the Locality.
- Construction Defects:
Monsoon is the best season for detecting any defects in the construction. The quality of the construction is determined during this period. Buyer can closely inspect the quality of construction of the house he is planning to Invest In including Seepage, Dampness and Leakages.