Why is the lean season the best time to buy a property?

The best time to buy property in India is considered to be the festive season such as Ganesh Chaturthi or Diwali, but many industry sources claim that the monsoon season could be the best time to invest in real estate due to lower competition between buyers. and the monsoon provides a better opportunity for homeowners to negotiate.

The merits of investing in real estate during the lean period:

Best negotiation:

Homebuyers can make problems like leaks during the monsoon months work to their advantage. They can make use of registration problems and water leaks in a house to negotiate better deals. This is certainly not possible during the dry season.

Build Quality:

If you are interested in buying a resale house, the monsoon season may be the best time to buy a property. During this season, problems like leaks near the bathrooms, the roof can be easily detected. Heavy rain can better expose construction flaws like drainage and plumbing quality, as well as leaks and seepage. The monsoon season proves to be the best time to check the quality of home construction.

Discounts:

As the demand for property falls during the monsoon season, it turns out to be the right time for home buyers to invest in property purchase. This is the time when sellers are forced to lower the price of the property to attract serious buyers. Most of the home buyers in India consider the festival season to be an auspicious time to buy a property and therefore sellers offer attractive discounts to encourage their sales during the rainy season.

Greater bargaining power:

During the lean season, such as the end of the year or the monsoon, people are busy with their vacation plans and New Year gatherings and celebrations; as a result, the decision to buy a property is deferred to a later date. Therefore, due to the lack of serious buyers during this period, home buyers get the advantage of multiple offers from sellers and can negotiate the price of the property.

Infrastructure and Transportation:

Property market experts suggest that home buyers should visit the property they are interested in buying during the monsoon season to learn about the infrastructure of the property and the issues associated with it. Aspects such as the accumulation of water in that area, as well as transportation from the house to the nearest bus stop or train station, can be better understood during the rainy season. These factors are overlooked most of the time during good weather.

Tax Savings Benefit:

It’s a good idea to buy a property just before the end of the year, since you can claim some deductions on mortgage interest, property taxes, and interest tax. Thus, make the most of the lean period or the end of the year to save considerably on the total budget.

Builder Incentives:

The end of the year is a good time to get builder incentives. This is the time when you can order custom cabinets, designer paint, and bath fixtures, as many builders offer attractive end-of-year deals for even more profit before the end of the year.

Flexible payment options:

During the lean period of the real investment market, there are fewer buyers and this certainly gives you an advantage. Loan officers offer better interest rates on the property and help you close a deal at a fair price.