If you are planning to buy a house or property, then this season will be right for it. During the rainy season, the house and its surrounding areas do not remain as they appear throughout the year. In this season, the house and property can be properly tested. Apart from this, property prices in the country have come down due to Corona. Not only this, the bank's home loan interest rates are the lowest at this time. For these 5 reasons, buying a house at this time and in the rainy season would be a good idea.
The strength of the house matters more than the beauty of the house. If you are buying property in the rainy season, then the quality of construction material can be affected due to water in these houses during the rainy season. If there is moisture on the ceiling or walls, floor, windows, doors, and especially in the bathroom, then it is better not to buy. At the same time, there is a problem of water filling in many places in the rainy season, so it should be seen whether there is a drainage system or not.
While buying a house, attention should be paid to the surrounding facilities and infrastructure. During the rainy season, some roads face waterlogging, traffic, and electricity problems. There are many promises made especially by the house or colony builders of a good road connecting the main road, but many times it is not the reality. Make sure that the road is not inconvenient or risky. These features can be guessed only in the rain.
It is seen many times that the power goes out when it rains. There are some areas where there is a power outage for several hours. Find out if there is such a condition in the property you are thinking of investing in. Even if the power goes out, you can question whether there is a generator facility for campus and parking. Especially when you are taking a house in an outdoor or quiet area, do not ignore it.
Housing property prices have come down in the country between January and March this year. House prices in the country declined by 1.6% in the January-March period of 2021 as compared to January-March of 2020. According to property consultant firm Knight Frank, India's global ranking in terms of increase in housing property prices is also very low. India is at number 55 in this ranking. The ranking covers housing property prices in 56 countries.
At present, the home loan interest rates are at their lowest level. Kotak Mahindra Bank is offering Home Loan at an interest rate of 6.65% per annum. The country's largest bank SBI is also giving loans at 6.70% annual interest.
