As a prospective home buyer, you will always face the same dilemma, is this the right time to buy my first or new home? That will be followed by, is this the right time to invest in real estate? The pandemic in 2020 has introduced us to many unforeseen challenges. The importance of one’s ‘own home’ has resurfaced. The significant changes to our daily norms such as work-from-home, virtual schools and meetings and a renewed need to ensure the safety and health of our families has urged people to buy their own home in Mumbai. Here are five reasons why you should consider buying a new home for yourself and your family.
1. Emotional Well-Being
Buying your own home allows you to finally stop stressing about making your next rental payment. The one-time investment while purchasing a home may feel overwhelming, but the emotional peace of living comfortably without any fears supersedes everything else. For more than 6 months India has been under lockdown, however, the Indian economy and activities are resuming and restoring. The lockdown period was especially difficult for tenants. Initially, some were forced to vacate the houses on account of non-payments of rent or even increased rents during a pandemic. Buying your own home will allow you to feel more secure and confident in your own future.
2. Working from Home
With the adoption of new norms such as work-from-home & virtual schooling, owning a home has become a necessity, especially for working professionals & families. Owning your own home allows you to make changes to your home as you see fit instead of waiting or a landlord’s approval. Buying a new home can allow you to upgrade your current surroundings and make sure you can find the perfect place for you to be able to work from home and still relax and play at home as well.
3. Stamp Duty Reduction
Stamp Duty has been reduced by 2% for a limited time. This discount ends on 31st March 2021. The government has provided this discount to stimulate the real estate sector and it seems to be working. More home sales are being recorded now than before the pandemic keeping prices up and making now the perfect time to invest in real estate before Stamp Duty goes back up.
4. Away from Crowds, But Still Within the City
Many real estate developers in Mumbai are coming up with affordable housing projects in Mumbai suburbs such as Borivali and Dahisar. These projects are not only affordable, but are also spacious and perfect for a nuclear family to reside. Closer to nature, but within the city of Mumbai is the dream of many. This can be achieved if you choose to buy a home in Borivali and Dahisar. VKLAL VISHNU PHASE I in Dahisar and VKLAL HARI PHASE I in Borivali can be the perfect choice for you.
5. Real Estate as an Asset
As mentioned above, the reduction in Stamp Duty has caused a resurgence in the real estate market. Historically, real estate has always been a great asset due to its increasing price and safety and security it provides to homeowners. Interest rates are also at very low levels relative to the past which is further helping keep property prices high. Prices will rise as they always have. Interest rates will increase as inflation picks up and the economy improves. Stamp Duty will go back up. Now is the time to invest in real estate and take advantage of great discounts, lower interest rates and a reduced stamp duty.
V. K. Lalco Group values safety and security over all else. This priority is reflected in VKLAL VISHNU PHASE I and VKLAL HARI PHASE I. Your home is the safest place for you to relax, grow and feel secure. Contact our sales team through our Contact Us Form or via phone +91 86574 43652/53 or email sales@vklalco.com. We look forward to helping you find your dream home.