Buying a Property This Diwali

Diwali, the dazzling festival of lights is considered highly auspicious and holds special significance, especially when it comes to buying a new property.

It is believed that any major purchases like gold or property made during the festival of Diwali or on Dhanteras, will prosper tenfold. The festival of Diwali begins with Dhanteras, a day on which most business communities in India begin their financial year. The word ‘Dhan’ means wealth and the word ‘Teras’ means the 13th day according to the Hindu calendar. A new property is one of the biggest purchases we make in a lifetime and owning a property is a form of wealth too. As such, Dhanteras and Diwali are considered a favourable time to buy a property. People also buy valuables like gold and silver and worship Lakshmi, the Goddess of wealth, to bring prosperity and well-being.

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While Diwali is a good time to purchase a property it is certainly not reason enough to seal the deal. It is important consider few factors before buying a property. Also, cashing on this propitious festival many real estate builders roll out offers like discounts, free gifts, tokens and other add-ons like gold coins, free car or holidays to attract potential home-buyers and to get them to buy properties. Some even go as far as dropping the prices of properties considerably. However, it is important to not fall for such gimmicks blindly and undertake in-depth research before taking up such ‘offers’.

Keep in mind the following things before investing in a new property:

Plan your budget well and much in advance. This will also help you take other decisions related to buying property.

Approach banks for offers on home loans. Make sure you approach at least three different banks for better options.

While picking a builder, make sure to do thorough research and background checks before finalizing. It is also good to contact previous clients of the builder for their experience and reviews.

Also find out the property rates and compare with that of the builder’s.

Find out important details about the locality like transport facilities, hospitals, school and banks in the area, etc.

Rely on the experts for genuine real estate advice and visit PropTiger.com!