Positive Side of COVID-19 For Home Buyers

Opportunities don’t come always come easily but when it comes you should grab it from both hands. This is an old Indian proverb which stands true today. As people are facing issues in paying rent and EMI for their house loans, the consequence of COVID-19 outbreak is an indication that owning an apartment is way better than dealing with uncertainties. People are also realizing the importance of real estate assets as a more reliable investment option due to steady and good returns compared to high risk market investment. Hence, if you are planning to buy flat in Hyderabad or any city of the country, then you are making the right decision at the right time.

The recent announcement made by Reserve Bank of India to slash the repo rate by 0.75 basis points will make home loans cheaper. This move India’s central bank will give home buyers an opportunity that should not be missed. The rate cut has brought interest rates by public and private sector bank to their lowest in over the last few years. Hence, it is good news for those contemplating to buy their dream home for a long time. If you are among them, then wait no further and grab the opportunity in front of you. If you are eying to buy home in Hyderabad, then this is the perfect time to step into your own home.

Home loans at the current rate allow for some savings while crating an asset for buyers or investors. Further, the borrower can use the savings due to lower interest rate and less EMI to get a top up loan, also available at lower interest rate. These additional money can used for other works related to homes such as modular kitchen, interior work, etc. Also, a lower interest rate allows a buyer to opt for higher amount of loan. This becomes helpful in case one wants to purchase a big house luxury flats in Hyderabad.

Hence, for those who are looking to buy home or invest in real estate, this could be a right time to do that. Buying apartments or homes is the most expensive financial decision that a person makes in his/her lifetime. Keeping all the costs in mind, the affordable housing segment has become a preferred choice for buyers. An opportunity in the form of low interest rate is available now. Hence, go ahead and make the best use of it and fulfill your dream of owning a home.