It is no secret that the festival of Diwali has an enormous significance in our culture. Not only is it an opportunity to meet and exchange gifts with our loved ones but it is also the best time to buy property. Believe it or not, several buyers wait for this auspicious period all year to purchase new beginnings in the face of a new home. But that’s not it! Apart from nourishing a religious sentiment, there are various other reasons behind buying property during festive season.
Diwali 2020: Why Is It a Good Time to Buy a House?
Whether you wish to buy your dream abode or invest your savings in acquiring property to rent out, here is why you should do it during Diwali.
Abundant availability of new properties
One big reason Diwali is the best time to buy property is that builders launch new projects during this time across the country. As most people in the real estate sector consider it an auspicious time, sellers put new properties up for sale. All of this offers ample opportunities for prospective homebuyers.
As Diwali is the biggest festival of the year, the housing market puts out the best bargain deals and offers at this time. While buying property, one always wishes to get the best offers and sellers choose this occasion to lure buyers with the same. Therefore, prospects looking out for good deals can wait till this auspicious time to explore their options and find the most attractive Diwali offers on property.
Low rates of interest
Prospective homeowners who are counting on housing finance can revel in joy around Diwali as various lenders slash their home loan interest rates. Many real estate and finance gurus suggest taking a home loan around this time because of the many festive offers on the market.
While taking any loan, a buyer is mostly apprehensive about the repayment. Therefore, borrowing a home loan during the festive season can take away some of your stress as lenders offer flexible repayment options. Diwali is an attractive time for most industries, and the real estate market and loan lenders make the best of it too. But, before applying for housing finance, you can use a home loan EMI calculator to calculate your EMI amount. Doing so will help you estimate the affordability of your future loan.
Additional Read: 5 Useful Tips to Get a Perfect Home Loan Deal This Diwali!
Need Help with Your Home Loan?
Tata Capital offers a wide range of housing loans with attractive interest rates to help you become a proud homeowner. We make the process easier by providing flexible repayment tenures along with lower EMIs that increase along with your income.
At Tata Capital, we understand that every buyer has different housing needs and therefore, we offer home loan solutions that are tailored to fit customized requirements. So, if you are looking forward to the festive season to take the next step in buying your dream abode, contact us today to turn your dreams into reality.