Important Tips and Guidelines for Home Buyers This Dhanteras

Posted on: Oct 22, 2024 | 3 mins | Written by: HDFC ERGO Team

Important Tips and Guidelines for Home Buyers This Dhanteras

Dhanteras is considered one of the most auspicious times for investment in Indian culture. People make large investments on this day as it is believed that spending money attracts wealth towards oneself and makes them prosperous. A large investment, such as buying a home, is therefore quite trendy on Dhanteras. If you are planning to buy property this Dhanteras we have some great tips for you. Read on to know more.

Reasons why Dhanteras investments are popular

There are several reasons why people like to invest in a home during Dhanteras. Here are some of them:

1. Culturally and astrologically significant

First and foremost, Indians believe that Goddess Laxmi blesses them and helps to increase their wealth if they invest on this day. It is one of the holiest days of the year and Laxmi Puja is performed in many households. To commemorate the occasion, people consider making large investments, such as buying a house. Additionally, people also make such investments as it is astrologically well-suited to do so. Astrology is quite significant in India and many people base their important life decisions, including home purchases, on Astrology. As per astrology, the stars and planets line up perfectly and form the best ‘muhurat’ to buy a house on this day. Hence, it is common to find many houses being purchased in Dhanteras.

2. Great deals and discounts

You get some amazing deals and discounts on Dhanteras. Since it is one of the most popular times for real estate investments, builders offer deals and discounts to lure customers and stay ahead of their competitors. You will find many offers such as discounts, reductions in processing fees, lower interest on home loans, and so on. Most home buyers grab the opportunity with both hands and buy their dream home on Dhanteras. Hence, a surge in real estate sales is noticed at this time. Along with the home sale, home insurance plans also sell like hotcakes, as people prefer protecting their new, expensive homes with the best insurance coverage.

3. Symbol of long-term prosperity

Making a large investment in Dhanteras is the symbol of summoning wealth and food fortune towards you. And since a house is something you don't change every day, it makes for a good item to be bought on this day. A house bought on Dhanteras is considered to be ‘Shubh’ or lucky, and the people living in it are expected to be blessed with goodness and prosperity for a long time. Hence, we find people queuing up to buy property on this very special and auspicious occasion.

Now that you know why Dhanteras is a good time for home buying, you can also consider getting your next property on this pious day. However, while doing so, you need to be careful.

Points to remember when buying a house on

As mentioned above, buying a home requires careful analysis and research. From getting the perfect policy to securing it with the best property insurance plan, you should do what’s best for your financial portfolio. Here are some handy tips to remember:

1. Assess your requirements

Right at the onset, you need to make a list of your requirements. Everyone has different home requirements. From selecting the most suitable location to fixing the perfect budget, from understanding an appropriate size to choosing the type of property, you need to be very sure of how your home would look like. Once you know what you exactly are looking for, you will be able to narrow down on your dream property and buy it on Dhanteras. Analyse your needs, discuss them with your family members and then arrive at the final decision.

2. Do proper research

You need to do proper research before you go home shopping. This is one of the main requirements and it ensures you find your perfect abode. Research about the area in which the property is housed. Also, find out about the builder, the price trends and all other information. You should also check if all the papers and other legalities are in place. Research about the home loan options to ensure you have the best interest rates. Complete all the research work well in advance to ensure you can smoothly buy your house during Dhanteras.

3. Do not rush in

You need to take your time when you buy a house. It is perhaps the biggest investment of your life, so do not rush in. Buying a property can never be a last-minute decision. Hence, you need to be prepared for it well in advance. Do not make the mistake of opting for a house on the day of Dhanteras for reasons such as luck or prosperity, or because you wish to cash in on the builder’s offer. If you rush in, you will surely make some errors and that will prove to be very costly in the long run. Thus, assess your needs, do your research, find the perfect house and then make the payment on Dhanteras.

4. Get professional help

It helps to get some professional help on your home-buying journey. Employ the services of a registered and reputed broker who can guide you properly. Also, if you are basing your purchase on astrology, ensure you consult a certified astrologer who can help you choose the right property. This is essential as a house is a very long-term investment.

5. Be future-ready

Be future-ready when you buy a house. Choose a locality that is either well-developed or upcoming. Look for connectivity, convenience and proximity to schools, hospitals, etc. You need to choose a house that will appreciate in value. If you are young and single today, do not ignore the fact that you will have a family in a few years, so keep the needs of your future family in mind when you select your forever home on the occasion of Dhanteras.

6. Get insurance coverage

And last but not least, do not forget to insure your new house. A house insurance plan is a very important form of general insurance that helps you to keep your property protected against various aspects like damage, fire, theft, etc. You can also find additional components in your home insurance plan such as valuables and gold insurance coverage. Look for the best plan to cover your dream house in the best possible manner.

To wrap it up

With Dhanteras around the corner, this is the perfect time to plan your home-buying journey. Do your research, list down your requirements and make a practical budget. Once that is done, narrow down the properties that match your needs and preferences. Take professional help if needed and get the job done smoothly this festive season.

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

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