How Monsoon can help you in renting, buying

There is something alluring about the monsoon season which appeases almost everyone. However, when it comes to Mumbai’s real estate, monsoons have a reverse effect to the existing houses, as here torrential rains put a stop to the daily activities of the city residents. Still, interestingly, this season may prove to be beneficial for the buyers, in certain ways. Know how -

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Bargain for lower rates

For many developers, it is a lean season in terms of sales. Incessant rains stop buyers from making a purchase. “People wait till festivals to initiate any property transaction, which leads to piling up of residential inventory. Thus, developers facing liquidity crunch, come up with monsoons discounts as a part of their marketing campaign to attract buyers,” says Gaurav Arora, a local real estate consultant.

Expert also say that, majority of developers are ready to offer property at lower rates to serious buyers. It is the same for tenants looking for rented accommodations. “In Mumbai, one can easily negotiate by 10-25 per cent on the sale or rental values during the monsoon season,” says Arora.

You can settle for a big house

Since many developers are ready to negotiate on the property price, this can be an opportunity to buy a larger space. Arora says, “The property prices in Mumbai are very high, and buying a property is a big deal for a middle-class man.”

Opportunity to check the property

For those, who are willing to invest in a partially or fully developed property, monsoons are an opportunity to check the construction quality of the project. You can check for water leakage, dampness, water clogging, etc.

Check the locality

A city like Mumbai, where water logging and traffic jams are normal, and a visit to the locality can prove to be beneficial. If it is a plot, you should check whether it is a low-lying one whether you would need to add more soil to level the area.

Isha Gupta, a resident in Mumbai says that, “Water logging is a major issue in most of the localities in Mumbai, even in the affluent areas. A visit to a locality can give you a fair idea how your neighbourhood is during this time and one can have an idea.  This is an important point to keep in mind, because when you plan to sell the property these can prove to be a deterrent”.

Source - Magicbrick news