Why Is Lean Season the Best Time to Buy Property?

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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 property due to less competition among the buyers and monsoon provides a better chance to the home owners for bargaining.

The Merits of Investing in Real Estate Property during the Lean Period:

Better Negotiation:

Home buyers can make problems like leakages during the monsoon months, work to their advantage. They can make use of water logging and leakage problems in a house to negotiate better deals. This is certainly not possible during the dry season.

Quality of Construction:

If you are interested to buy a resale home, monsoon season can prove to be the best time to buy a property. During this season problems like seepage near the bathrooms, ceiling can easily be detected. Heavy rain can expose construction flaws like quality of drainage and plumbing, as well as leakages and seepages better. 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 proves to be the right time for the home buyers to invest in buying property. This is the time when the sellers are compelled to lower the price of property to lure the serious buyers. Most of the home buyers in India consider the festival season to be an auspicious time to buy property and thus the sellers offer attractive discounts to perk up their sales during the raining season.

Increased Bargaining Power:

During the lean season like year-end or monsoon, people are busy with their vacation plans and New Year get-togethers and celebrations; as a result the decision of buying property is deferred to a later date. Thus due to lack of serious buyers during these period, home buyers get the advantage of multiple offers from sellers and can bargain with the price of the property.

Infrastructure and Transport:

The experts of real estate market suggest that home buyers should visit the property they are interested in buying during the monsoon season to know the infrastructure of the property and the problems associated with it. Aspects like water logging in that area as well as transportation from the house to nearest bus stand or railway station can be understood better during the raining season. These factors are most of the time overlooked during good weather.

Benefit of Tax Saving:

It is a good idea to purchase property just before the yearend as you can claim some deduction on the mortgage interest, property taxes and the interest tax. Thus make the most of the lean period or yearend to save considerably on the total budget.

Incentives from the Builder:

Yearend is a good time to get incentives from the builder. This is the time when you can ask for custom-built cabinets, designer paint and bathroom accessories as many builders offer attractive deals during the year end to reap more profit before the end of the year.

Flexible Options of Payment:

During the lean period of the real investment market, there are less buyers and this certainly gives you an advantage. The loan agents offer better interest rates on property and help you to close a deal with a fair price.

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Source by Harish Maggon

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