5 Reasons to Invest in Property This Diwali
It’s the perfect occasion and a time for new beginnings! All over India, Diwali is celebrated as a happy time when good wins over evil. The ritual of buying gold, electronics, and real estate investment during this time of year and making other new purchases is said to bring luck. At this time, home buyers and real estate investors invest in properties.
Even though these traditions are a big part of everyday life in India, buying or investing in properties during festivals has more to do with the industry and what it offers. During the festive season, everyone from small shops to large real estate companies has special deals that are hard to beat. They make the market more competitive and save money for people who want to buy a home.
Let’s look at the top five reasons to invest in a property this Diwali.
Top 5 Reasons to Invest in Real Estate
- Deals and Discounts
During Diwali, there are many deals and offers. Also, people believe Diwali will bring them luck, and real estate is a safe investment that pays off well because a lot of money comes in around Diwali. Almost all developers and real estate companies offer big discounts to get people to invest in their properties.
During the holidays, there are a lot of sales to attract customers. This makes it easier for people to invest in property they can afford. Real estate developers try to attract customers by offering no or low-interest rates, free domestic appliances, cash back, and no EMIs.
- Diwali is considered a lucky day
You know that Diwali is a festival of good luck, prosperity, and hope that is celebrated all over India. It’s also a great time to make an important decision about investing in a property. Diwali is like a happy fresh start. Most of the time, people plan on making big investments to make their lives more interesting. Investing in a property is a big, profitable, and costly choice.
Plus, how could you forget about holiday sales and discounts that could help you do both amazing and cheap things? Yes! Choose the developers with the best deals, but don’t forget to check how reliable they have been in the past. There are many discounts that can also help you save money.
- It’s common to start new business projects on Diwali
Many new businesses see Diwali as the perfect time to start up. It gives buyers a lot of benefits. There are many deals to choose from. When investing in new businesses, it’s also important to find cheap real estate. So, putting money into new projects is like buying a great product for a small amount.
During the holidays, a lot of new and interesting projects are started. When the economy is slow, real estate developers try to make more money by selling homes to middle-class people. Since this is the case, now is the best time to look into the wide range of property options at very low prices.
- Banks lower their interest rates during Diwali
Why should banks get behind during Diwali? Banks and developers start many low-interest loan programmes for homes or properties. Banks also offer attractive EMI plans and flexible payment methods with no processing fees. So, Diwali is the perfect time to invest in a property because you can easily get loans with low interest rates.
- Bonuses and incentives during Diwali
Diwali is a time for blessings. Professionals get praise and money for their work. This gives them more money to invest in a property. And this benefit is often what makes people put a lot of money into real estate with various offers and strategies that can be changed. There are many good things about buying real estate. Developers and builders help buyers choose the best property during the festive season. So, make good choices.
Which is better, buying or renovating a property?
It is always preferable to buy a house rather than renovate one. Renovating a house entails giving your property a new look by refurbishing, redecorating, or repainting it, but why spend so much money on the same estate when you can buy a new one? This is a factor when purchasing a home that is preferable to renovating one.
When you buy a house, you can do more with the money than just fix it up and invest it in the same property. When you buy a new property, you know you’ll get a good return on your money because its value will keep going up in the real estate market. Every year, your properties’ prices will go up by 8–12% if you invest in real estate. On the other hand, fixing up your property might make it better, but it won’t make you any money.
Should You Buy or Rent a House?
It is always preferable to buy a home rather than rent one because:
- Investing in a property has more financial advantages than renting one. For starters, if you want to relocate, you can always sell it for a profit or rent it out to generate positive cash flow.
- With your own home, you didn’t have to worry about rising rents or abruptly leaving. Buying a home gives you a sense of security while renting eats up your money over time.
- Section 24 of the tax code provides a tax break of up to Rs. 2 lakhs if you buy a home and pay off a loan.
- If you’re a first-time purchaser, you can take advantage of the “Pradhan Mantri Awas Yojana,” which gives you discounts of about Rs 1 lakh to Rs 3 lakh, depending on how much your property is worth and how much you’ve borrowed.
Conclusion
Given how well the Indian real estate market has been doing lately, investing in a property could be one of the best choices you ever make. Real estate investments are also the best way to protect against inflation. The investment allows you to live a luxurious life, plan for your future, and leave something for the next generation.
But you should be careful when you buy a house. Don’t just chase after what’s being offered. Use your mind and intelligence. Look at the price and the condition of the property as well. Whether the asset’s value is real or only on paper, buying a house takes your whole life’s savings. You should also look at the developer’s past work when making your choice.
For more information, visit the Piramal Finance website and explore their products and services.