4 Tips for novice home buyers.
By Shravan Gupta.
Real estate is headed for a boom this year. Real estate expert Shravan Gupta has suggested these tips for first time home buyers. He has forecasted that the housing segment will grow by 10% this year.
Mumbai: The housing sector is bound for revival by mid-2022. In the coming months, growth will be exponential due to excellent investment opportunities, attractive home loan rates and the importance of owning a home. In the long run, this sector will be the first to revive from pandemics.
Shravan Gupta has noticed a trend where first-time buyers have become the focal point. Today people have realized the value of having their own home hence the advent of first-time buyers. However, it is crucial for first-time buyers to follow these tips when buying a home:
- Eco-friendly designs.
Most builders are making eco-friendly buildings where there is ample light and natural air. Today most home buyers are looking for homes that are airy and boast of open space. Real Estate builders like Shravan Gupta are making apartment complexes with a dedicated play area and meditation centers. These are the highest selling points that attract a first-time buyer.
- Enhanced income.
The economy is reviving slowly and so has the income of people. The savings of people have grown significantly in the past year. 2022 seems to be the right time to invest in a new property as lending prices are at an all-time low. Most nationalized banks are giving home loans at 6.5% which makes it feasible for first-time buyers. It has resulted in boosting housing sales.
- Second-hand homes.
First-time buyers are looking for second-hand properties as they are low in price. Shravan Gupta has acknowledged the value of redevelopment as they are more feasible. Mid-level cities are budding with second-hand properties. It is attracting first time buyers as an optimum source of income.
These properties form a good option if one is looking to invest in a second home and live in a small town.
- Attractive schemes.
Shravan Gupta feels that builders are offering attractive schemes for first time home buyers. This has boosted real estate from last year. A low home loan rate with low stamp duty is the foremost selling factor. Industry experts feel that there will be an increase of double-digit in the housing sector.
It is the need of the hour to have your own home. In the coming months, the youth factor will be the driving force in real estate.