They might be viewed as excellent potential investing opportunities in addition to serving as housing.
As is well known, the globe is now coping with a pandemic, and like many other sectors, the real estate industry has also been negatively impacted. Yet, as time has gone on and things have improved, the sector has experienced a minor uptick. The elevation makes the real estate industry to the top tier of global investment opportunities.
Purchasing a home has intangible advantages like security, tranquilly, and pride in ownership. In comparison to other investment possibilities like land, the stock market, mutual funds, etc., real estate may be thought of as one of the most reliable and profitable choices given the current market trends.
Therefore, according to a number of polls undertaken by property experts, more than 50% of investors want to go back into the real estate business in the post-COVID-19 period.
These are some advantageous things to think about while purchasing a home:
Deals that are appealing
To help their projects get off the ground, developers are making tempting offers owing to the shaky market caused by the epidemic. Being the perfect moment to invest in or purchase a property. There is no better time to purchase than right now, with loan rates at historic lows and developers providing tempting discounts.
Provide a source of reliable income
Purchasing a property can give the purchasers a source of reliable income. In contrast to other investment opportunities, leasing the property gives you the chance to establish a reliable and stable source of income.
As many other industries throughout the world were, real estate was also badly impacted. Yet, with time, everything are returning to normal. One can gain significantly over time from price appreciation by investing in the present market. If one buys in a property in Pune now, the value of that residence is likely to increase many fold over time due to the booming market.
If you own your dream house, you may be eligible for a tax reduction of up to two lakh rupees. Depending on your interest, you may be able to receive a tax advantage that would lower your home’s interest rate. If you invest in a ready-to-move property, you are eligible for tax savings of up to 2 lakh rupees and a reduction in your interest rate under Section 24 of the IT Act.
Accessible and affordable house loans
The RBI has significantly lowered repo rates after the COVID-19 epidemic. These are some of the lowest repo rates, which caused the interest rates on house loans to drop to the lowest level of 7%. For investors looking for successful investments, this is a fantastic chance. With interest rates this low, you may save a lot of money on your investment compared to only a year ago when house loans were about 8–9% annually.
Purchase of a residential property is regarded as one of the most secure investment options in the present market environment since it is risk-free and steady. You can always depend on receiving your investment returns eventually. Due to the extremely cheap property prices in the present market, there is a tonne of room for profit. It is anticipated that the real estate market would exhibit an increasing trend once the economy returns to stability.
Together with safer assets like real estate and other market-driven investment options, one may diversify their portfolio.