Buying a home is a dream for every individual. The culture-rich Indian festive season can be the most suitable time to step into your dream house. Every festive season brings an abundance of blessings, prosperity, and wealth. Hence, the Indian real estate market springs into action during this period.
According to a Knight Frank report, real estate investment in Mumbai witnessed unprecedented growth during the festive season of Diwali. Such a sudden rise in property sales has given a new lease of life to real estate developers in Pune.
Are wondering how and why such a sudden shift happened during Diwali? Is the Indian festive season the best time for real estate investment? Hop into this article that covers everything you need to know about buying homes during festivals.
Is Buying a Home during Festivals Worth It?
Buying a home is easier said than done. It can be the result of years of hopes, dreams, and aspirations. Thus you have to think twice before deciding whether you should buy a home during the festive season.
Here are the top 5 reasons people believe buying a home during the Indian festive season is profitable.
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Offers are Everywhere!
It is widely believed that the Indian festive season, particularly the Diwali season, rewards you with monetary benefits.
Unsurprisingly, banks and other financial institutions present the most enticing offers to prospective home buyers during this period. The interest rate on loans and mortgages often reaches all-time lows. Additionally, there will be special allowances and perks, free home appliances, cashback, etc.
If you’ve been dreaming of new residential projects in Pune, the festive season can be the ideal time to turn your dreams into ‘realty’.
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An Abundance of New Projects
The Indian festive season comes with an abundance of new projects. Many real estate developers in Pune are busy launching their flagship projects during this period, such as the Punawale projects by Pharande Spaces.
Real estate developers in Pune also provide discounts to attract homebuyers. These include free club membership, free parking, booking accommodation and more.
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Affordability
Many flats in Pimpri Chinchwad saw huge price drops during the previous festive season. Many such attractive discounts are the trademark of the real estate market during the Indian festive season.
As affordable real estate projects yield higher returns, your chances of closing a profitable deal reach new highs during the festive season. Ensure analyzing the options thoroughly, comparing them with recent market trends, and choosing wisely.
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Better Negotiation Power
The Diwali real estate market also draws a number of buyers and investors as it is the best season to negotiate a price. Many Indian sellers prioritize the timing of their sales. Hence, they are open to negotiations.
In the highly competitive real estate market of fixed prices, the flexibility of solid negotiation is a blessing. Make the most of this rare fortune if you plan on buying a new home.
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Bonus and Incentives
Employees receive a brimmer of benefits in their professional life, like bonuses, hikes, and incentives during the Indian festive season. These are the key reasons behind a sudden uptick in real estate investment during this period.
However, ensure you don’t fall prey to bogus offers just because you’ve decided to invest in real estate. Always research thoroughly before making major decisions like buying a home.
Conclusion:
Undoubtedly, the Indian festive season is one of the best periods to embark on your dream journey in real estate investment or even for buying a new home. However, the parallel surge in real estate frauds should raise your concerns.
Keep a weather eye on the background of your builder and check their previous projects before blindly falling to advertising mavericks. It is always better to play it safe, banking on reputed brand names like Pharande Spaces. After all, it doesn’t make sense in celebrating your investments without investing in your celebrations just for the sake of it.
