Mon. May 20th, 2024


How the pandemic has affected the real estate sector

The ongoing pandemic has created a lot of uncertainty in all sectors of the economy. With the lockdown restrictions firmly in place across most of India, physical interaction has been reduced to a bare minimum. This has impacted transactions in businesses across all major sector and real estate is no exception. However, home buyers are increasingly exploring several options for safely buying house property even in these turbulent times. Builders and developers are also coming halfway in making the property buying process convenient and seamless. The comforting news is that potential home buyers who were considering purchasing property before the pandemic set in, are now slowly back again in the market. As a home buyer, you are no doubt excited that, following all safety precautions, you now have the opportunity which was not available to you earlier.However, buying a property in these times  comes with own challenges, which is why you need to keep certain things mind while shopping for your dream home. Here, we share some tips on buying a house in pandemic. nahar excalibur 3 bhk

Real estate agents will be helpful

Given the fact the pandemic is still on, the foremost thing on your mind should be your safety in doing every task and particularly when you’re property hunting. In these uncertain times, you should not go out in the market all by yourself but take the help of a property agent instead. They have years of experience and possess practical knowledge of the market and the different properties out on sale. By shortlisting the most appropriate properties which exactly match your needs, brokers will ensure that you are least exposed while selecting the property, thereby ensuring your safety. nahar excalibur 5 bhk

Online research has its advantages

When it comes to searching for your home, the online medium offers a wide range of options within your specified budget and configuration requirements. Without stepping out from your house, you can search and shortlist properties and even connect with the sellers over phone or video call. All major property websites offer detailed images of the properties so that you have a clear understanding of all the rooms, kitchen, bathrooms and balconies of the apartment. In fact, some sites also display videos of the property with a person explaining the property in detail. After watching the video, you will be in a better position to ask specific questions. If you shortlist an under-construction property which will almost certainly not have an OC, or Occupation Certificate, you must check the property details on the MahaRERA website by entering the number of the property.

Taking a housing loan makes sense

While you are searching for your residential property, we suggest you simultaneously initiate conversation with housing finance companies for knowing your loan eligibility. It is important that you plan your house financing in detail, as it will help you close the deal faster and to your advantage as your full payment will be ready. Almost all housing finance companies and banks have this feature on their website where you can calculate your loan eligibility in minutes, by just sharing basic details like nature of employment, annual income etc. If your spouse is working or self-employed, you can club their income and increase the loan amount with your combined eligibility. Due to the pandemic, housing loan providers are offering special offers and discounts which will make your home loan deal even sweeter. What’s more, they are even offering contactless application and approval mechanisms to avoid physical interaction during the process.

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