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HAS THE LOCK-DOWN MADE PEOPLE WANT TO BUY THEIR OWN HOME??

The prospective homebuyers show an incline preference towards ready-to-move-in properties, completed units are safer and stress-free than an under-construction property. <br>Apart from these prospective home buyers, many who thought they would never buy a home, as buying is not essential and they can save more money by renting, are now gradually changing their mind and transferring to be new potential homebuyers. <br>If you are still on the middle ground, we the Bivocalbirds put together some points that will help you with this subject. <br>

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HAS THE LOCK-DOWN MADE PEOPLE WANT TO BUY THEIR OWN HOME??

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  1. HAS THE LOCKDOWN MADE PEOPLE WANT TO BUY THEIR OWN HOME?? By Bivocalbirds family bivocalbirds.com

  2. SYNOPSIS • After lockdown lifted, many things come into the picture. According to the recent post lockdown research, around 40% of the total prospective homebuyers have postponed their plan. The remaining 60% of potential homebuyers will still buy within next 12 months. The reasons for delaying their plan to buy are market uncertainty and financial factors. The prospective homebuyers show an incline preference towards ready-to-move-in properties, completed units are safer and stress-free than an under-construction property. Apart from these prospective home buyers, many who thought they would never buy a home, as buying is not essential and they can save more money by renting, are now gradually changing their mind and transferring to be new potential homebuyers. If you are still on the middle ground, we the Bivocalbirds put together some points that will help you with this subject.

  3. PRICE CORRECTION • Before this coronavirus outbreak lockdown, real estate prices have persisted almost constant in the past. • As situation change, a price correction will likely take place. Even in some places it already in motion. • Now, many realty giants have been helping new customers to realize the dream of affordable housing by offering discounts on ready-to-move-in projects. • A report from research divulges that out of the total unsold stock of over 6.44 lakh units in the top cities nearly around 12% of homes are ready to move in. So, you might get your dream home for much less than you expect.

  4. LOW-INTEREST RATES • You are also likely to benefit from the RBI all-time-low interest rates of 7.15 to 7.8 % on home loans, which is the lowest that home loan interest rates have been in over 15 years. • So, if you are looking to buy a house, you will be going to pay interest rates that are lesser than what you would have to pay a year ago. You might even end saving more if you buy a house than continue to live in a rented home

  5. HIGH SCOPE FOR NEGOTIATIONS • If you have a stable source of income, then you might have high scope for negotiation. • As because of COVID-19 lockdown, the market crash, many people lose their jobs, salaries being cut, and in general, our economy came down. • Leads to investors selling off homes at cheaper rates under pressure. • Results in unaffordable houses to become affordable houses. So, do try your luck maybe you might get your dream home for much less than your imagination.

  6. EASE TO REACH • As we are staying at home, real estate geeks pinpointed that the COVID-19 lockdown has enhanced technology-led home buying in India. • Big shift toward the adoption of online portals. This makes it possible to inspect properties online as well as negotiate and finalized deals even within the safety of our home.

  7. ADVICE • The property investment is always a good idea, especially now where the stock markets and mutual funds have lost their shine. • If you are interested in buying property, Bivocalbirds advise you to take your time and don’t rush into any deal of purchase. • Make sure your economy looks good. Of course, it doesn’t have to be now, but at least a minimum for the next 5 to 8 years.

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