5 things to keep in mind while making investment decision during festivals
Towards the end of the year comes the festive season, which is also deemed auspicious for purchasing the property. Moreover, it is the ideal time for the developers to woo the potential buyers by offering ‘too-good-to-be-true’ deals. As a result, about 30 -40% of annual sales in the real estate sector are made during the festive season. We all agree to it that Indians are sentimental buyers and prefer to make investments during this period and sometimes ended up making hurried buying decisions.
Generally, buyers get trapped by offers and freebies like no-GST, discounts on cash, flexible-payment plans, no EMIs, free home appliances and what not. Anyone could get lured when offered such ground-breaking deals. But one has to be smart enough to identify the difference between a scam and legitimate deals. Prior to making any investment or purchase decision and spending your hard earned money, it is always advised to do a 360-degree research. Here are a few points following which you can keep your pockets from burning.
Remember the budget
Sometimes people spend beyond their budget when offered freebies. You should keep the budget in mind and remind yourself why you fixed this budget at first place. This will help you set your priorities straight and let you analyse better.
Do not fall for freebies straightway
Be cautious when offered deals with deadlines or limited stock, as there might be hidden agendas and profits. Just recall your requirements.
Look for your requirements not for best offers
Always search for what you require instead of running after offers and deals. This will help you stay in focus and find the most suitable property for you. Your choice should be according to your need not according to the offers.
Make a checklist
This is the most significant thing one should do when planning to purchase a property. Make a list of things that you cannot/should not compromise on, then while finalizing the property cross check the listed things.
Negotiation is the key
While purchasing always try to negotiate as much as possible, as most of the time there is a scope of getting a huge discount.
The aforementioned points, if followed, can save you from getting enticed. Buying property during the festive season is an auspicious thing to do, only when you are not getting fooled. So act smart and make choices diligently.