4 reasons why it's the best time to invest in property
“Be fearful when others are greedy and greedy when others are fearful.”
– Warren Buffett, one of the greatest investors of all time
A slowdown in the real estate market may be bad news for short term investors – but good news for genuine homebuyers and long term investors.However, this won’t be so for very long – because experts believe prices may already have hit rock bottom. So if you’re waiting for property prices to decline further, act fast – because they’re beginning to rise.
Here are 4 reasons why experts believe it’s a great time to buy property in 2016.
1. Prices Are At Rock Bottom
Real estate prices are already at rock bottom across India. But if you’re expecting them to fall more, that will most likely nothappen. Because aside from hidden costs such as interest and inflation – a stable government at the center coupled with a change in market sentiment will see to it that prices do not fall any further.
2. It’s A Buyer’s Market
The kind of deals developers are offering currently have not been seen in the past. If you are an end-user, you may probably not get such attractive deals or payment schemes – say in 2017. So act aggressively to invest in property now. The opportunity to seal a good bargain with discounts and incentives won’t last for forever.
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3. Attractive Financing Options
In today’s scenario, the market is slow and buyers are few.Therefore, you will find several attractive financing optionsto buy your dream home – with every major player competing for your account. It’s also a great time to upgrade to a larger home or expand your budget for a better option. Players are offering easy payment schemes and customised payment plans for customers.
4. Best Time to Switch From Rented to Own Property
At current rates, buying a property instead of paying rent is a very attractive option for homebuyers. But when prices rise, it will not be as attractive.
Financial experts will tell you that paying rent is a losing proposition compared to owning your own home. Because even if you claim a tax benefit on your rent, you’ve lost an opportunity to build a lifelong asset.
The markets are already sending positive signals. So stop your wait-and-watch policy – go ahead and buy your dream home today. Because this opportunity won’t last for long.