Buying Property

Monsoons Could Be The Best Time To Go House Hunting

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Monsoons Could Be The Best Time To Go House Hunting

Monsoons Could Be The Best Time To Go House Hunting
(Wikipedia)

Monsoons could mean discomfort but it is also a good time to look around for a locality and a property fit for you. Wondering how this could be possible? Could monsoons be a good time to invest?

Ashok Mohanani, chairman, EKTA World and vice president, NAREDCO West says, “Rather than avoiding this opportunity, a potential homebuyer should use it as an analysis to witness the pros and cons like location, construction quality, etc.”

What can you guage? Mohanani explains:

Check for amenities and quality of infrastructure

During monsoons, the roads are full of traffic and water logging. This could indicate the commute and access to the area. A potential homebuyer must visit the site several times before taking the final decision. Monsoons is a suitable time to check the condition of the building and the adjacent area around it. Also find out how frequent is public transportation and how much time would it take to commute to a bus depot or a railway station if you are dependent on it.

Time to gauge the quality of construction

Issues like seepage near washrooms and on the ceilings, leakages, quality of plumbing and drainage, water logging, traffic in the neighborhood are very common during monsoons, and this period will be the best time for a quality check. Especially if you are looking at a resale or ready to move property, it is a good time to check.

  • Where flaws in the project become obvious during the rainy season, buyers can negotiate and also ask the developer to repair the same.

  • Low lying areas are prone to flooding, leading to traffic jams and transportation distress. This problem can be best judged in the monsoon season.
  • Potential buyers can estimate whether the property has problems pertaining to seepage, leakage from the terrace, drainage issues leading to stagnation of dirty water, etc.
  • For a resale home, a concluding examination in this season can disclose construction quality and how the property has been maintained.
More sellers await you

Monsoons dry up the list of potential buyers and builders are under constant pressure to sell their inventory so this period is best to negotiate with them. Developers are more flexible when it comes to payments and negotiations; they are also open to giving freebies, services and discounts which a buyer may not get otherwise.

Raining discounts

It is an ideal time for discounts and negotiations. Monsoon season is the time where builders lower their prices for serious buyers. Also on account of the festival season that falls during September-October, developers offer special discounts to create a buzz in the market and increase their sales.

- by Sneha Sharon Mammen

Source : PropTiger

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