5 Reasons to Invest in Property this Dussehra

Posted on: Oct 4, 2022 | | Written by:

5 Reasons to Invest in Property this Dussehra

Published on October 04, 2022. EST READ TIME: 3 minutes

Buying the house of your dreams is something that a lot of Indians look forward to. It is one of the biggest achievements that one can accomplish during a lifetime. Apart from helping you secure an asset, a house ensures that you have access to a better neighbourhood, security, and community. It also aids you in financial stability in the long run. And you can secure your biggest investment by buying property insurance.

For a lot of Indians, the question isn’t about whether to buy a property or not. Rather the question is, when should one buy a property? If you are wondering when a good time is to invest in a property, the upcoming festive season might just be ideal. Dussehra is one of the most auspicious times during the calendar year and makes up for an excellent time to proceed with big purchases.

The real estate business was badly hit during the pandemic, and it is still picking up. This Dussehra presents you with opportunities to buy a property of your choice. Developers not only offer great discounts and offers during this time, but there are a few new launches as well. You might even get access to some freebies, such as free parking or a waiver for the clubhouse payment, etc. Here are the top 5 reasons why you should invest in property during this Dussehra.

1. Good Time To Buy:

Dussehra marks one of the strongest buying phases during a calendar year. Most of the buyers want to make the most of this auspicious time and purchase new things. If you have been thinking about buying a house, this Dussehra might just be a good time to buy a property.

For the ones who have been planning to buy a property for some time, this is a good opportunity to convert that plan into execution. Even if you have not spent a lot of time planning things out, this auspicious time can provide an ample amount of good opportunities. One of the major reasons is that people have a buying mentality during Dussehra rather than considering their options.

What might come in your favour is the presence of several interesting and enticing offers on properties. These could effectively reduce your cost of ownership by a considerable margin, thereby making them more affordable.

2. Tax Benefits:

Another strong reason to consider buying a property this Dussehra is the tax benefits that a property purchase brings along with it. Tax deductions on the payments made towards a property can reduce help you offset some of your income and reduce your overall tax liability. For starters, there are no self-employment taxes on rental income, thereby making it a better option.

There are tax breaks for various occurrences such as the depreciation of property, maintenance expenses of the property, expenses related to repairing, insurance premiums, and interest paid on the mortgage. Long-term investments such as real estate tend to attract lower tax rates as well. Thus, real estate investors like to invest their money in the long term.

3. Discounted Rates:

One of the prime reasons to invest in real estate during Dussehra is the lower rates of properties. Developers are well aware of the fact that the festive season is a good time for a lot of potential buyers. Quite a few of them who are on edge can be converted into actual buyers with the help of good offers.

And this is exactly why it makes sense to buy a property during Dussehra. If you look around and ask, you might find some good deals or discounts on property prices during Dussehra. Most of the offers on prices are exclusive only for the festivals. Thus, one should not shy away from negotiating and trying to get to a price point that one will be more comfortable with.

The festival season might be the perfect opportunity to put on your bargaining or negotiating caps on. And you might be able to walk away with a property at prices you had not thought of earlier.

4. New Projects:

Dussehra is an auspicious festival and marks it as one of the most favourable times to buy or invest in new avenues. It is not surprising then that the festival season sees one of the highest sales of vehicles and properties. A lot of builders and developers recognize this. And it is a prime reason for them coming up with new launches during this period. If you have been waiting through the year to buy a property, you might have a few good options in terms of new projects. And if the projects are in their nascent stages, you might get your hands on introductory prices, making it even more favourable to purchase properties.

5. Be Financially Stable:

A vast majority of property owners or buyers are working professionals. And quite a few of them receive mid-term reviews and evaluations during the festive season. Some of them even receive bonuses, thereby making the purchase a bit more affordable affair. If you receive a mid-year bonus or mid-year hike, it might be a better decision to invest that in a property.

And for the ones who had been planning to buy a property for a while, the additional funds should help you with the purchase.

Once you do decide to buy a property of your choice, it is essential to buy property insurance. An insurance policy for your home will offer you safety against a lot of potential hazards that houses normally face. Here are a few prominent reasons why you must consider a property insurance policy.

- The policy will offer protection against any natural calamities such as cyclones, earthquakes, floods, etc.

- The policy covers all the expensive items in your house, such as furniture or domestic appliances, from any damages or losses.

- It offers coverage against threats created by men, such as vandalism, theft, burglary, riots, etc.

- Unlike a lot of other policies, you can opt for a long-term plan as property insurance. You can buy the policy for a term of 5 years or 10 years.

- It can provide accommodation in the case of a total loss of your house.

Conclusion

You can double the amount of joy this Dussehra by buying a property of your choice. It is a great time to buy because of the auspicious timing, better deals provided by developers and new project launches as well. While you are buying a property, do not forget to insurance policy for your home, as it will ensure that you can continue with your ownership experience without any hassles. Above are some reasons why you should seriously consider buying a policy for your home or property if you have not already done so.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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