Have you considered a desire to buy a plot and build your own home? At the same time, felt like this is not the right time to invest? It’s time to put that thought aside because the current situation appears to be the perfect time to invest. Every crisis brings with it a slew of untapped opportunities. The epidemic has certainly provided a favorable atmosphere for real estate investment. Here are some reasons as to why this is the perfect time to fulfill your dream of homeownership.
Many tenants have begun to view rent as an unneeded and inevitable burden. Because the epidemic forcing individuals to re-evaluate their expenses. Furthermore, they have come to consider EMIs to be similar to SIPs, or Systematic Investment Plans, and that too for a relatively stable asset such as real estate.
Home loan rates are at their lowest in decades, and the government is promoting homeownership as well. The average interest rate on a house loan is currently less than 8%. Property prices are low at the same time, and many builders/developers are providing purchasers a variety of schemes and offers.
Builders have begun to sell ready-to-build plots, which were previously quoted for homes that were ready for building. This is a new trend that gives customers peace of mind. It may be a good moment to buy plot in ECR for personal use. At the same time, it may not be the best time for individuals wanting to profit from short-term capital gains or price increases. In the near future, prices are projected to climb. Furthermore, rental yields are quite low, averaging only 2.5-3 percent.
During the first and second waves of the Covid-19 epidemic, the market was slowed. However, things began to improve, and investments began to rise. With many organizations adopting the Work From Home (WFH) strategy, the sector received a boost. With many companies permitting employees to bring their children to WFH, employees are no longer bound to a location near the office. They would not hesitate to choose a convenient location to reside, frequently away from the crowds and not necessarily close to their workplace. As a result, this is an opportunity to purchase a property at a lower price while also being ‘far from the hustle and bustle of the city.
Invest In Real Estate
Investing in real estate in these extraordinary times appears to be a risk worth taking. While physical assets may not provide immediate profits, they do provide great stability in an otherwise unpredictable period. Furthermore, the idea of larger returns in the event of an economic rebound is appealing. Many developers are turning to PropTech as a way to adapt to the new normal as the world enters a new and exciting digital age. This has a number of advantages for the buyer, ranging from making it easier to select a plot for the project themselves.
Overall, the pandemic has created an ideal environment for land investment. Because of a number of favorable factors such as lower borrowing rates, growing demand for reliable assets, and attractive buyer’s schemes. So, what do you have to lose? It’s now time to turn your ideal house into a reality!