Is 2021 the right time to buy the property? The covid-19 pandemic graph started to decline in mid-2021. Even though many people are still struggling with their health and the economic situation, which is still going on globally. The people of India have stood strong and optimistic about the conditions, which will be improved soon. The peak of the second wave has flattened, and the Ashapurna Buildcon crew are hoping that everything will be as normal as before.The working trend which brings the behavioural change among workers is the biggest reason behind the high housing demand as most people have been working from home itself.
Ashapurna Buildcon Limited strongly believes 2021 is a good time to buy real estate, especially in cities like Jodhpur. To help you get the best out of your investment for flats in Jodhpur, here’s an overview of what you should think about the effect of current pandemic situations on the real estate market.
Advantages of buying a house in 2021
This may be the ideal time for the first time buyer to purchase/ upgrade their living because, from a financial standpoint, two main factors are purely in favour of home buyers: subdued home prices and lower cost of credit to purchase a home.
The first benefit can be that the home prices are very likely to remain under pressure this year even though the prices are expected to remain unchanged from 2020.
The second top-most advantage is the advantage of low-interest rates for those planning to knock on the doors of banks and financial institutions for home loans. RBI’s repo rate is now at 4%, much lower than in early 2019, which was as high as 6.5%. And rates are likely to remain low as the RBI pursues an easy monetary policy to boost the economy.
In a nutshell, it means that buying a house now will surely be easier on your pocket than you may have thought. And if you are a woman, there are even a few more benefits in this segment for you.
Apart from more money in the wallet, homebuyers will continue to draw indirect benefits of processes, like tax benefits and wealth creation.
Real estate body CREDAI wrote a letter to the PM of India, charging cartelization at the prices of raw materials used for housing projects like steel and cement. Quoting the letter by CREDAI, “Real estate developers are experiencing an inevitable increase in construction cost and are faced with a situation that will create a delay in delivery, stalling of projects in some cases, thereby impacting the homebuyers at large.”
The government of India and CRE actions took a positive response on the industry and made this segment pocket friendly in every way possible. To cross-check this, let’s take a look at the downside of buying a home.
The downside of buying a home in 2021
Due to the high buyer demand, property prices would likely go up exponentially very soon. Because of fewer sellers due to lower prices, the buyers need to contend with higher housing prices, which leads to a higher pricing side. The sellers are not listing their homes for selling because they are also waiting for the prices to go up.
Looking into the future
With more and more companies adapting to work from home on a permanent or a flexible routine opens up the choice to shift to micro cities like Jodhpur, where property prices are much lower than bigger ones.
Besides apartments, buying a 30 60 plot in Jodhpur is also a good idea for building a spacious house.
So, the big picture is that it is always the right time to buy the property. It’s the perfect time to invest in real estate. Every month of delay could lead to depreciation in investment value as the property value will increase. THIS IS THE RIGHT TIME TO INVEST! And even If it is not, Ashapurna Buildcon Limited is ever ready to consult with you in a situation like this. We are always ready to find the top residential projects in Jodhpur for you according to your needs and desires.