The world as we know it has undergone a sea of a change since the COVID 19 pandemic broke out. The lockdown that was imposed on to #StopTheSpread of the virus brought every sector of the economy to a screeching halt. The real estate sector suffered too. However, with the focus shifting to homes, the common man has started thinking about the importance of having a safe and secure roof over their head. This sentiment about having a haven to retreat to in the times of a crisis has driven people who were uncertain towards real estate investment decisions to take the plunge. While the debate rages on if this is the right time to invest, here are some tips if you are considering it.
Assess your financial situation
First things first. Assess your financial situation, these are unprecedented times and it is nice to have a safe balance in your account before you think about investing in something as huge as investing in real estate. Fiscal prudence is the watchword here and now. Once you are sure you will be able to manage the finances, consult a financial consultant just to be doubly sure.
Invest in a ready to move in project
Since the work came to a halt during the lockdown and is yet to pick up the pace, there may be unexpected delays. The availability of workforce is yet another issue that has to be considered. So, it is ideal to invest in a ready to move-in-apartment during these troubled times.
Pick a reputed builder. This is where big groups like Malabar Developers come into play. We have more than 25 years of experience and the confidence to weather this storm out. We also have ready to move in apartment projects across Kerala.
Research & information
These troubled times need extra research. Check with your lawyer and a financial consultant before investing in your dream home. Check the paperwork just to ensure that it is in order.
Experts are of the opinion that a longer-term loan is ideal during this time. Use a calculator to understand how you can prepay your loan to get maximum benefits.
Get in touch with us if you have any doubts about the projects and how to find the finances.