3 Reasons Why Now is the Right Time to Buy Property

 In India, home ownership has traditionally been regarded as a status symbol, as well as an indication of a person's strong financial standing. 'Buy a house' is typically the advice given by the older generation, and we are gradually realising that it is not totally baseless.

From an investment point of view, considering the volatility of the equity market, it is safe to state that putting money in real estate is a safer choice. Not only does it provide you with a shelter and sense of security but also offers a decent return on investment in the long term. If you're on the fence about buying a home, consider these five reasons why you should act now.

1.     Your dream home may become more expensive in the future

The land is a scarce resource, and the population will continue to rise. According to Niti Aayog data, there is a current housing shortfall of approximately 25 million people, demonstrating the enormous underlying demand. Increasing urbanisation, rising earnings, and a strong middle-class population are some crucial factors causing high demand. As a result of the undersupply and high demand situation, housing prices in the future are most likely to increase while the choices will be restricted. Given this, as well as the fact that real estate is a safer long-term option than equity, now is an excellent time to put your hard-earned money into a property.

2.     Limited stock of good ready-to-move-in properties

At present, there is a good stock of ready-to-move-in properties in different locations. For instance, you can find affordable flats in Wadala and other locations in Mumbai and other cities.  So, you can have your dream home that matches all of your criteria, including location, lifestyle, security, and convenience. 

3.     Get the benefit of lower home loan rates

Home loan rates in India at present are at a 15-year low after the RBI reduced the repo rate to below 5 per cent. Following this, various financial institutions have reduced house loan rates, with some providing rates as low as under 7 per cent. A lower-cost house loan saves you money, allowing you to purchase a larger property. It means you can even check out new properties in Wadala and other locations in different price ranges and turn your dream of buying your own house into reality.

So, whether you are checking out luxurious properties or flats for sale in Wadala and other locations, now is the time to buy your dream home.