Buying real estate is a seasonal endeavour and the monsoon season is the best time to invest in quality real estate.
Surprised to know that? Well, let us tell you why!
The monsoon period is an opportune moment to invest, mostly because people do not move out and look around for investment opportunities. Rather than dismissing the season because of the lack of movement, an intelligent investor must take advantage of this and actively look at evaluating the pros and cons of multiple investments. During monsoon season, the various attributes of the property in relation to their construction, location and foundation of the building.
Heavy rains lead to slow market conditions and this gives you enough time to gauge the property for glitches and potential flaws that might hamper its present or future investment value. Here are some of the reasons why investing in real estate during the monsoon season is a good idea.
Monsoon season is the best period to check the overall quality of construction of the property. Signs of leakage or dampness from ceilings or in washrooms are big indicators of poor constructions and are often not spotted in the other months. Heavy rains help display the major flaws in construction and infrastructural defects which involves drainage issues, dampness on walls and lack of plumbing quality. While this can be hidden during the summer months, it becomes almost impossible for the developer to hide these flaws during monsoon. And by knowing how the property looks during the toughest season gives you a good chance to appraise whether it is worth the price.
Monsoon season lets you understand the location and the surrounding neighborhood much better than any other time of the year. Checking the property during monsoon gives you active insights on the water logging situation that might be prevalent in the location, accessibility to the area and towards other locations during rain, and also how the premises is maintained during all times. An understanding of these factors will help you make an informed decision about the viability of the property.
Potential homebuyers should visit the site more than once before making a final decision about buying the property. They must understand the availability of infrastructural facilities and amenities around the neighborhood and check for the presence of essential resources nearby. Thoroughly check the availability of transport from the property to the nearest bus depot or railway station, schools or hospitals or even accessibility to the nearest grocery store.See the availability and frequency of such resources especially during the monsoon season, where frequency of essential services are usually lower.
The most important aspect of purchasing property is the price negotiation. It is always an advantage if the potential home owner has some valid points to pitch for reducing the price of the property. Making a note of minor flaws and glitches in the property can be used as a good way to bargain and negotiate the initial pricing. And only a small amount from this profit is required to get those flaws fixed. But of course, if there are some severe problems, you can re-think purchase as well.
Monsoon season is when the demand for properties tend to lower. This is because customer behaviour indicates a tendency to be home-bound, especially because monsoon season in Tamil Nadu hits during the last few months of the year, which is the festival season where spending is normally high. But when it comes to real estate, customers tend to put the investments on hold. In order to boot sales,property sellers are always willing to accommodate deals and attractive offers on the property to make the sale. This discounted rate can be used to your advantage if you wish to make interior changes or repairs in the house.
Buying a property is always a daunting task, so it is important to make use of every trick in the book to make it easy for you! It’s time to own your dream house and bring the upcoming festival season in style. Wisdom properties is your go to destination for picking the best house to suit your needs! Head to www.wisdomproperties.com and get started on your investment goals today!