Is this the correct time to buy a home...!? A dream becoming true..!

Monsoon season is generally said to be the best season for home buyers. It is during the rainy season that the true condition of a house comes Everyone knows that it has been a dream of every one's life to buy their own house. Some people save money and buy this dream. Some people have taken a loan from the bank and are buying their own house. In this situation, the information has come out that now is the right time to buy a house. to light. It is during the rainy season that leaks in buildings, water problems, and the underlying structure of the building become apparent. Therefore, if you have to pay attention to such aspects while buying your own house, it is more convenient to inspect it in the rainy season than in the summer season.
To understand the overall condition of a property, it is important to note that the better the house is during the rainy season, the better the house will be. Also, the rainy season is the perfect time to buy a house by examining the condition of the house if there is too much water around the house or if there is a lot of rain or flood.Also, the house owners are likely to keep the house without maintenance due to various reasons. The problems of buying a home without maintenance and the solutions to those problems are important aspects to think about before buying a home.Also, home loan borrowers are facing a dilemma as interest rates on home loans are currently on the rise. It is also said that because of the increase in the installment amount for those who have already bought a house, some are now in a position to sell the house. The number of home sellers is said to be on the rise even though house prices have not yet come down. Especially in the last month of May, the interest rate for home loans has increased by 90 points. It is said that due to the increase in installments, some people are selling their houses because they are unable to pay the home loan and many people are buying those houses taking advantage of their urgent needs. And builders say that the cost of new homes is currently on the rise. They are saying that house prices will go up due to an increase in wages of workers, and an increase in prices of raw materials especially bricks, cement, and iron. Real estate tycoons are finding it difficult to sell homes at discounted prices even though home sales are sluggish. At a time when interest rates are rising, it is advised to be very careful in purchasing a home on an installment basis. It is advised that homebuyers with a tenure of 10 to 20 years should calculate the percentage of interest rate increases in these 20 years and analyze whether they can afford to pay the amount for twenty years. It should be noted that house installment should not be more than 40 to 50 percent of your net income.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

dream come true

Sowmiya Sriram

07/07/2022 04:14 PM