Know why monsoon is the best time to purchase residential property

Zee Media Bureau

It may be cumbersome to launch a physical search for purchase of property during monsoon season, no one can doubt the fact that it's also the best time to clinch a sale transaction. In case you are looking to buy a residential or commercial real estate property, then keep reading further.

Most Indians prefer to remain indoors during the monsoons, remaining averse to carry out site visits and home inspection. This leads to drop in demand for flats and apartments during the rainy season. So, this is an ideal time to strike any deal.

1.Time to avail best offers

Being a season of slow demand, buyer always has more options with her to negotiate a good deal compared to other seasons. Not only can she avail good offers, even the terms of payment get relaxed during the season. On an average, one can get discounts as high as 5 percent to 15 percent.

2. Proper assessment of property location

Monsoons are the best time to assess property location in India. It is the time when surrounding infrastructure including roads get exposed to rigorous tests. Also, you can easily make out how much time it takes to commute. During rainy season, the quality of construction can also be evaluated. Any discovery of leaks and seepage can be best made out during this season which is very difficult otherwise.

3. Better negotiation chances

During monsoons, banks and other lending institutions issue special offer for prospective buyers. Even if there are no official announcements made by them in this regard, probability of extensive negotiation always remains with the borrowers.