Monsoon season is generally considered a dull period for the real estate industry because a general perception prevails that hunting for houses during monsoon is a bad idea and many refrain from even checking out houses during rains. However, real estate experts recommend the contrary, due to various reasons.
As the overall demand for real estate tends to fall during the rainy season, there is a huge stock of unsold houses that each developer has. Even people who want to re-sell their houses in the market would have to wait for nearly three to four months. Some sellers who are desperate, may come out with some price cuts to ensure a quick sale.
If getting sloshed in rain puddles along with the traffic snarl can help you get a good property at much lower rate, then no doubt it is a reasonable deal. Here are some additional advantage of buying a house during monsoon:
Bargain for lower rates: Usually property buyers prefer to wait till the festival season to buy real estate. To get a best deal for your real estate investment in Monsoon, bargain for lower rates with your builder or developer.
Monsoon discount: The builder wants to get rid of existing project in order to start a new project in the upcoming festival season. They are willing to offer lower rates to serious buyers. The quantum of discount in Mumbai and Kolkata is likely to be higher than other cities.
Good for Building Inspection: Most property buyers opt for buying a property in festival season or in summer. You can check for building structure and signs of dampness or leakage before signing on the dotted line.
Locality: Buying property in monsoon can help you to find right property and good location. It will give you an idea about problems regarding water logging and traffic or time consuming to commute in that locality during monsoon. Such a search becomes especially important if you have moved to a new city and are not familiar with the locality and the geographical problems.
So gear up!! A house hunting during the rains could bag you a good deal
