The pandemic of COVID-19 has led to a lot of uncertainty in the market from all aspects. From investment, jobs, and healthy security, stock exchange to real estate, all sectors have been affected.
For many people, buying a home during this time is out of the question. However, in case you can manage and have the funds, investing at this time has many positives. Consulting with a real estate agent can help you in understanding this in detail but we will attempt to give you a fair idea below.
In this blog, we will shed some light on the topic that is investing in a property in Mohali a good idea in COVID-19?
Low Repo Rate:
The pandemic has brought down the rate of interest to a very low point. The current repo rate is 4% and it has been like this for some time now.
This rate is one of the lowest ever and it has played a huge role in bringing down the loan rates. If you are thinking of buying a home at this time then getting a home loan will also be easier.
Slowdown in Demand and Supply:
There is also a slowdown in the demand and supply. Since the demand for houses has reduced, the supply has also been affected. However, there are still many lucrative options available out there if you can spend the money.
If you make the decision after the pandemic ends, there is a chance of facing a price hike. Hence, it is better to invest at this time by consulting a real estate agent in Chandigarh and making the best use out of the available options.
Negotiating on Terms:
You can negotiate on the terms such as cash flow and liquidity with the real estate agents in Zirakpur. Since there isn’t a high demand, the cash flow has been low.
This means that is the right opportunity to negotiate in case you have visited a site or a location. Hence, investing in a property in Mohali can turn out great at this time. It must be noted that there are chances of delays.
Safe and Recommended:
The real estate investment at this time is safe and highly recommended. For anyone interested in making an investment, real estate is a safe bet right now and also in the long term.
Many experts say that the prices of properties will rise considerably once the pandemic is over. It is expected that the price of residential properties can be twice and the commercial properties can be one and half times more than the present rate.
Hunting for a House:
- Get in touch with an experienced and knowledgeable real estate agent for getting the best property deals during this time.
- Other than this, you can also lookup listings and different properties in the desired location. You will have to dig more about a location once you like it. Go and explore the location until you are entirely satisfied with all that it offers.
- You can also visit a RERA portal of your state for checking the authenticity of the properties.
- Gather feedback about all the projects and developers of your interest in multiple forums.
Point to Remember:
You must make an investment knowing that the project can take some days to complete. There was a complete shutdown in India for over three-four months and so, the construction workers returned home.
After the pandemic is over, there will be a paradigm shift in all sectors. Everyone will begin thinking about their own homes given the security and comfort that your own home offers. Real estate investment is safe and productive in the long term for everyone. Hence, now is a good time to invest in a property if you have the cash flow.