with Navratri The festive season is about to start. There are huge sales of vehicles and houses during this festive season. If you too are going to book your dream home i.e. flat in this festive season, then you can save lakhs by knowing some things before booking. Now you might be wondering how I can save big on property bookings. Property experts say that people buying their first home to live in should focus on the secondary market instead of the primary market this festive season. Primary market means going to the builder and booking a fresh property. Secondary market means the properties available in the resale market which are sold by investors. Realty experts say that home buyers can save lakhs of rupees by doing a little hard work.
Affordable property available in resale market
Experts say that home buyers should look for resale properties in whatever project they are planning to book a house. Since Corona, many investors have invested money in real estate. Now they are slowly leaving because the property market is booming. Investors are getting good returns on their investments. So they are withdrawing their money and investing it in new projects or other asset classes. However, the property will be sold in resale only if its price is less than the market. Therefore, you can easily buy a cheaper property in resale as compared to fresh property.
Understand how savings will happen in this way
If in a project the builder is selling flats at the rate of Rs 8,000 per square feet. Let us assume that the price of a 2BHK flat in that society whose size is 1000 sq. will be Rs 80 lakh. If you do research in the same society, you will easily get the property in resale at the rate of Rs 6,500 to 7,000 per square feet. Yes, for this you will have to work hard and research. You can do this work online, offline and with the help of broker. In this way, if you book a 2BHK flat, you will easily save Rs 10 lakh. Before booking a property for resale, make sure that the documents of that flat are correct. There should not be any dues. For this you will definitely have to work a little hard but you will definitely make good savings on booking.
Image Credit: India-Tv.