3 Major reasons for not purchasing a new home

Dec 18 2018

The idea of buying a home is accompanied by a million second thoughts and doubts. For an obvious reason, that it requires a huge investment!

Thinking of the high prices of properties, it becomes very difficult to stop reconsidering the purchase. To add to this stress, the real estate market keeps on fluctuating.

However, Mumbai, the city of dreams never run short of home buyers and tenants, and being the financial capital, the prices are undoubtedly high.

According to Indian Brand Equity Foundation, with an ROI of 12-19% for the upcoming 5 years, Mumbai is the best place for commercial Real Estate investment.

Rather than tinkering about all the reasons, you shouldn’t be purchasing a home, and confusing yourself. The question you should be asking yourself is- Why should I buy a property and that too ‘now’?

There are so many What ifs that begin to haunt!!!

Here are all the reasons to buy a house today:

1. The steady increase in population:

The most densely populated city in the country, is constantly showing the human population increasing every year. The place only can provide 1.1 square meters of open space for one person. Well, yes this is true!!!

According to Indian population 2017, Mumbai has been thronged with 0.5 million more people since last year. So, now it is multiplying its way towards 24 million.

Every year the price shoots up, and every year there are more home buyers and tenants!

Now, for the most benefit, the point is 5the person must consult a renowned and established real estate agent.

2. The RERA benefits:

The first act that brought transparency in the real estate business, was Demonetization, where most of the transactions initially happened in cash. The lack of cash, made the business go stagnant for a while, with all the purchases being postponed. As anticipated, the real estate market did suffer a fall in that period, which eventually became the stepping stone for a more transparent and efficient dealing.

Then RERA entered the picture, which facilitates a clearer picture for home buyers, and makes it a little tougher for the builders. Giving the benefit of doubt to the buyers, RERA has made the investment more secure.

For instance, now the grievances of property buyers would be given the much-needed consideration. Hence, the probability to get betrayed decreases significantly.

3. The security of owning a home:

Well, who doesn’t want to live as a tenant or move constantly in the late 50s. Having your own home brings you the peace. Ownership allows you to consider your own requirements, and stop compromising in accordance with someone or in terms of benefits.

Having a home is a basic necessity of life. There is one aspect that most people forget to consider, which is, you spend most of your happy time at home. The solace is solely discovered in a place that makes you feel secure and would be yours until the end.

Your home can bring you business if you think of going to set the place on rent, or open a paying guest facility, or even sell it when the prices shook up.
What is there to reconsider now?

So, I would conclude my reasons by a small recommendation for all-

Buying a home is a huge investment, but having a perfect guidance in making it, is all you need to get best benefits.

If you want to live somewhere, grow, and are looking for a place to nurture your future and guard your existence, nothing will be better than purchasing a home.

Like Koki Adasi Said, “The house you looked at today and wanted to think about until tomorrow may be the same house, someone looked yesterday and will buy today.”

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