The rainy season is advantageous to home buyers. In India, they could be called the Monsoon Advantage. Seasons impact the real estate market very much. In the rainy season, it may not be easy to go and inspect the home you may wish to buy, but there are many benefits that come along.
But nowadays, with home hunting becoming digital through virtually staged house tours or drone videos, the limitation on stepping out of the house decreases. In this relaxed climate, everyone loves to sit back and enjoy themselves. So, this is a slow season for the real estate market.
Benefits of purchasing a house in the rainy season
- Housing material quality: The quality of materials used to build a house would become very evident in the rainy season. It is during this period that you get to know the reality behind all those attractive looks. If the house is a bit older, around five years, inspect the property thoroughly.
- Roofing quality: After a good rainfall or at the end of the rainy season, you can get to know the quality of the house roof. You get to check the roof for leaks, cracks or broken roof tiles.
- House condition: There are times when you may not be able to inspect the house due to heavy rains or if you’re held up with important work. In such scenarios, you can always speak to neighbours or real estate brokers about the electricity supply, water supply, drainage system, etc. Also, avoid buying homes that stand below the sea level.
- Drainage: This is very vital to a residential property. Blocked or improperly constructed drains can lead to flooding around the property. The post-rain time period gives you an accurate picture of the same.
- Community inspection: After heavy rains, you can go around the community where you’re planning to buy your new home. This gives you a clear picture of the surrounding areas, the extent of water and garbage accumulation or the damage caused to the infrastructure. You get to ascertain if you can exit or enter the area easily in the rainy season.
In the rainy season, sellers are willing to negotiate prices owing to less market demand. Also, the competition is less during this period. This may be an exception in the case of big and reputed builders.
But you can expect these financial benefits during this season
- Promotions from developers that give limited-time discounts on homes or additional benefits like amenities or other gifts
- Developers can offer up to a 10 % discount on the property price depending on the demand and supply dynamics
- You may receive offers such as zero stamp duty and registration charges, furnished houses, free parking spaces or more
So, there are many benefits to purchasing a home during the rainy season. Looking at the benefits we’ve covered, it seems to be advantageous to the buyer. Of course, it requires a little research too on your part to identify the appropriate sellers and their offerings.
Ubuntu, from the renowned Sukhii Group, is our signature project aimed at disrupting the luxury home market. Its 70 + amenities are already the talk of the town. If you’re looking for your dream home, this rainy season is the perfect moment. Please call us on 9647363636 to realise your dream home.