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RIGHT TIME TO CONSIDER BUYING YOURSELF A GOOD & SAFE HOME

STAY HOME – STAY SAFE – WORK SAFE

The pandemic outbreak has made all of us thinking about the importance of owning a home in a gated community / housing complex with appropriate housekeeping facility providing a hygienic environment along with safety. Your home should not only give you the mental peace towards safety but must also provide positivity so that one can successfully be at home or work from home as & when demanded.  A good home is a lifetime investment to ensure both you and your family’s safety & success.

# Interest rates are at its lowest* – RBI announces Repo Rate cut & EMI moratorium to homebuyers

Interest rates have become very attractive after the Reserve Bank of India’s move to cut repo rate by 75 basis points & allow a moratorium of 3 months on loan repayments. Such move will help existing homebuyers and motivate new home buyers in the backdrop of the outbreak of Coronavirus.

*SBI is currently offering Home Loan at Interest rate as low as minimum 7.20% & maximum 7.55% p.a. T&C Apply

# When Is the Right Time to Buy a House?

When investing in a property, many potential homebuyers attempt to predict if home values are rising or falling & the Interest rates. Good time to buy when prices are low and interest rates are low.


# Special Considerations when purchasing a Home

There’s a saying on Wall Street: “Don’t try to time the market.” This also applies to real estate. The number one factor is your ability to afford a home without getting in over your head. That said, if you’re looking for an edge, interest rates are near historic lows, so now is a better time than most to purchase a home.

# KEY TAKEAWAYS:

  • Borrowers should explore their loan options and take advantage of low-interest loans if they have a good credit score and little debt.
  • Attempting to time the market is not a good idea. However, interest rates are currently at historic lows, so now is a good time to buy.
  • While monitoring if home values are rising or falling are important metrics, the best time to buy a house is when you can afford it.

So if you can afford to buy a home then go ahead and buy yourself your dream home.

Ref. Source: https://www.investopedia.com/articles/personal-finance/032015/when-right-time-buy-house.asp