Four reasons to buy your dream home in times of Coronavirus
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- Published date: December 14, 2021
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- Mumbai, Maharashtra, India
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People usually want to have their own house, as homeownership has always been viewed as a matter of prestige in India. It also provides you with a sense of security and comfort that can only be found in your own home. Besides, the current COVID-19 pandemic has also made us realize the real value of having our own home. In this pandemic, we have almost spent 24 months in our house as the whole country was under lockdown. And for months, our house has acted as a safe haven for our loved ones, and for most of us, it had turned into an office, school, theatre, and much more.
So, now, if you're planning to buy a residential property for sale on SV Road or looking to upgrade your living space and your lifestyle, there is no better time than this. The current home loan interest rates offered by RBI have been recorded lowest in the last decade and are a big boost to homebuyers. Also, the government has introduced a lot of schemes and incentives for homebuyers to promote housing. But if you still have doubts about whether to buy a house or not in the pandemic, here we have mentioned some of the factors that can help you make a decision.
A secure and tangible asset class
In India, the real estate market is one of the main pillars of the economy and generates the second-highest employment in the country after agriculture. Real estate has always proven to be a secure asset class and a tangible investment in times of crisis like the Covid-19 pandemic, a global calamity that has brought back our attention to secure investments. An investment in real estate is not prone to market volatility like investment in equity is. And this makes real estate a stable asset to invest in. That's why it would be a great investment, if you buy a residential property for sale on SV Road now.
Home loan interest rates at a record low
As mentioned above, the home loan rate has been the lowest ever in the last 15 years. Thus, the overall cost of buying a home goes down drastically with lower home loan rates, which makes it the perfect time for you to buy your dream home. Also, to boost the real estate industry, the RBI has maintained repo rates at a lower level so that that home loans are less expensive for homebuyers. Also, demand in real estate is highly dependent on the intensity of interest rates as they impact the monthly budget of buyers. But if you want to take advantage of these low home loan rates, your credit score should be over 750-800. So always remember to check your credit score before applying for a loan.
Secure your future
The recent COVID-19 pandemic has highlighted the importance of owning a home. Therefore, buying residential property for sale on SV Road not only ensures the safety of you and your family but can also be seen as a secure investment asset with lower risk attached. Other than that, according to a survey, it's has been found out that 52% of respondents chose real estate as their preferred investment class.
Good return on investment
With cheaper home loans, this is the best time if you are looking to buy residential property for sale on SV Road for investment purposes. You can choose a ready-to-move-in apartment, which you can rent out immediately and start earning from it. Currently, the rental income is set at 2.5% of capital value in Mumbai cities. Plus, you will also benefit from the cost appreciation of your property.
To Wrap Up
As you have read the article, now if you are planning to buy a smart 2 BHK apartment on SV road or looking to invest in a smart 1 BHK apartment on SV road, visit The Chandak Group - www.chandakgroup.com. They will show you some of the finest apartments on SV Road and will try to get you the best property deal in your budget.
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