Is 2021 a good time to invest in Residential Property?
Are you the one who always wanted to call a place ‘Your Home’? This is your chance to avail maximum benefits of investing in Residential Property. With evolving times, we see how uncertainty is evident in affairs and behaviors.
To have certainty and security in our lives, having a home that you own feels like living on cloud nine. Reports say that millennials are investing in residential property amidst this time of recession. But are they reasonable in doing so? Let’s check it out.
Lower Interest Rates
As per the guidelines from RBI, the Interest rate on loans for residential property is falling like a leaf in autumn. Lower interest rates indicate more funds for buying big-spaced residential properties and other estate opportunities. Currently, it has seen the Interest rate are as low as 6.75%.
Check out the details now! (Source Bankbazaar)
Recession
While the crashing securities market has shown a recession to our doors, it has also seen that it could bear fruits for investing in real estate. COVID-19, as observed, has shown higher demands for safety & security and lower demands for investing. Lower demands in investing in estate and properties imply lower rates. A scrutinized buyer always buys at lower prices as it insinuates a higher selling price, which means higher profits in the long run.
Work-Oriented Space
Working from home has blessed freedom from tiresome 9–5 jobs but it has also indicated higher demands for work-oriented space within the home. With the certainty of persisting situations for a long time, many workers from home are opting out of their leasing apartments into buying their residence for creating a permanent work environment. Are you one of them?
Incentives from the Government
Currently, the government has officially announced subsidies on interest on home loans, reduced tax-burden on under-constructing homes emphasizing buyers to purchase more on estates and long-term assets.
For more information, check Subsidies on Home Loans
‘Ready-To-Move’
In this ‘New Normal’ every ounce of patience has been extracted. So, a bulk of online housing services has developed insightful ready to move-in homes in the lieu of current scenarios. It gives a sense of accomplishment and satisfaction to the end-user after buying a well-crafted home with a single click on their computers.
Whether you like it or not, as a group of individuals, waiting at home has made us insecure about the coming future. This sudden pandemic has shown every one of us that monetary measures cannot save our lives when in danger. This need has increased the urge for awareness of concern regarding non-monetary issues like mental health, peace, and gratification, leaving the money concerns out of sight. By investing our idle funds into real estate and residential properties, we are creating a money cycle that could lead to up growth and regular supply of funds, paying particular attention to developing our economy, full-grown and evolving.
