With the onset of monsoon, you would like to sit back and relax, as you enjoy the rains. But there is one task that ought to be started during the rains – house hunting. So if you are interested in buying a home this year, this is the best time to start the research.
Magicbricks tells you four good reasons why monsoon is the best time to start your house-hunting drive.
Muted demand in the market
Culturally, Indians find it inauspicious to invest in anything for the two weeks into the monsoon which coincides with pitru paksh. Demand during this period is considerably low which also slows down the price movement, thus, giving buyers more time to make their choice. “As sales dip, price movement also slows down. In other words, buyers get more time to make their choice and are free from the stress of future price rise,” says JLL(R) chairman Anuj Puri.
Exposes structural defects
Searching for a house during this season helps a prospective buyer to closely inspect the quality of construction of the house he is planning to invest in, including seepage and dampness. Sellers find it easy to maintain the house during other seasons but monsoon bares it all. “It is a good time to judge the quality of construction of the project as uninterrupted rains can severely impact the construction work carried out with low grade material,” says Dhiraj Jain, Director, Mahagun Group.
Water-logging, civic issues in the neighbourhood
Your approach to your house is as important as the house. Karuna Sharma of East Delhi’s Mayur Vihar had zeroed in on a property in Indra Vihar in North Delhibefore monsoon lashed the national capital. “Within a few days of signing the sale agreement, incessant rains lashed the city. I came to know through news reports that the locality was flooded in knee-deep water because it is a low-lying area. I had to cancel the deal and ended up forfeiting my Rs 20,000. I wish I had waited till the monsoon to seal the deal,” she says. Apart from this, rains also bare the communication network and waste disposal mechanism in the area. “Location-based drawbacks such as waterlogging can be identified easily during the monsoons. Such factors could escape a buyer’s attention during any other season,” says Puri.