Why 2021 Is The Most Opportune Year To Buy A Home, Despite The Pandemic?

The second wave of Covid 19 has hit India very strongly, over-pressurizing the healthcare infrastructure more than its capacity not just in big cities but hitting deeper into rural areas. Even the superpower of the world US would have failed to stay strong in the face of such a disaster.

However, despite lots of restrictions, state governments have permitted essential economic activity – as well as construction activities. The best reason for this – real estate is one of the biggest contributors to India’s GDP (approx. 8%) and more than 50 million laborers are depending on construction work for income. As well as, there is still good demand for residential properties and the government cannot afford to sacrifice with revenue generated from property registrations.

But still, if you are in doubt then below are some points on – why 2021 is the most opportune year to buy a home, despite the pandemic?

More homes for sale than buyers

Finding a dream home that addresses your every expectation and available at your expected price is never been so easy and we can say 2021 is a buyer’s market. With the rising inventory in the residential property market, and real estate developers are ready to fulfil every possible expectation of prospective home buyer. So, you can bargain with the seller and get a good deal in 2021.

Home Prices expected to stay stable

The residential property market going stable in 2021, maintained by the affordable home loan, relaxation in stamp duty, and constant prices, and real estate developers are agreed to not disturb this motion by increasing property prices. As well as, they are presenting different schemes & offers to boost the market mood. In this situation, buying a home in residential projects like DLF One Midtown is a smart idea, since nobody knows when property prices will start rising.

Digital tools make home buying easier

Site visit through video calling, e-brochure, online payment of the property and many other digital tools are using by real estate developers to make home-buying trouble-free and follow the guidelines by MHA. As a home buyer, you can take virtual visits to different sites in different locations in few minutes and save lots of time. We can say that today homebuying has become easier than online shopping.

Interest rates expected to stay low

According to the experts, home loan interest rates are expected to remain low in the current year. These low rates of interest can help lower your monthly expenditure on home loans and save you in Lacs over in the long run. For first-time homebuyers, the reduced interest rates are a sign of positivity. With bottomed-out property value and added discounts and offers by builders, homebuyers can get the best deal at the best price.