July 26th, 2016 by Own A Space
Do not avoid real estate site visits or purchase of resale homes while its monsoons because buyers use this season to rule out the advantages and disadvantages of a particular property’s location and quality of construction in order to strike a good deal.
During monsoon, a real estate property and its surrounded area looks quite different from what it might look the rest of the year. Eventually, the season offers some prospective buyers along with the opportunity to have valuable insights on the intent of their purchase.
Framework and Facilities in the Area
Before making a final call for the purchase, buyers should visit the construction site more than once just to make sure. Visiting the site when traffic is worst would help in gaining knowledge regarding water logging situation in most places, travelling and accessing to the area. Monsoons are the apt time to go for house hunting and assessing the whereabouts of the building and the area surrounded by it. During monsoon, getting transportation from your home to the nearest railway station or bus depot is kind of a nightmare in some cities and this very aspect can’t be overlooked while visiting sites.
Quality of Construction
In order to check the overall quality which goes into construction of a house, monsoons are considered best. Seepage through ceiling and near washrooms is quite common these times. Heavy rains results in revelation of flaws in construction for instance leakages/seepages, quality of plumbing, water logging, drainage, and neighborhood traffic. Thus, it’s the best period to visit the site and shouldn’t be avoided.
During determining the quality of the construction, it does not always be possible while the property is still under construction to check the resale value of the house. One of the factors to keep in mind while finalizing a top floor flat is that to check for the possibilities of leakages. This factor matters in resale property. Go and check whether the flat or a property could withstand the elements of nature or not. Irrespective of whether the property is from a reputed builder, monsoon puts any property to the test.
Apt time to Bargain
Problems like leakages can also be used by buyers to finalize the deal in their favor. If a property has any issue of water logging around it or a leakage problem then the respective buyer has a chance to negotiate further and get a fair deal and get it solved. This might not be possible in dry weather conditions.
Grab the Discounts
However the demand somehow tends to dip during monsoons; it’s an ideal time for discounts. It is generally believed that monsoons are regarded as the lean period for the real estate sector. It’s good time for buyers who want home but especially for those who are looking for a property of resale value because the demand is less and the sellers are willing to bargain for lowering the prices for serious buyers. As more people prefer buying or investing in the property this festival time, (September – October), builders also offer great discounts across monsoons to hike their sales for the respective quarter.
Merits of Purchasing a Property in the Monsoons
- Buyers can track the issues a property has pertaining to leakages, seepage from top, drainage problems which might lead to stagnation of dirty water, etc.
- A last examination in this season for a resale home, can give a chance for revelation of construction quality and maintenance of houses.
- Low areas have more chances of flooding which leads to traffic jams and transportation worries. How far this issue arises can be judged in monsoons.
- When flaws arise, buyers can negotiate and ask the developers to solve the issues.
- Sellers are also ready to bargain as it is a lean period.
Get connected to us on Social Media:
Google Plus: https://plus.google.com/+OwnASpaceDubai/