Post-Covid Real Estate: 5 Reasons to Purchase an Apartment

While the prevailing view was that the real estate market in India would collapse due to the extremely adverse effects of the pandemic, those predictions are now turning out to be baseless. Real estate affordability in India has improved markedly since the outbreak of the pandemic in March 2020. With a phased reopening, deferred demand, and ongoing vaccination trends, the economic recovery is gaining momentum. Now that the dust is settling, it looks like aspiring home buyers can buy their dream home at reasonable prices.

Flats for sale in different areas of Hyderabad offer different over-the-top features and benefits, such as Luxury High-Rise apartments in Hydernagarwhich offers proximity to employment hubs. On the other hand, 3BHK flats for sale in Miyapur offer great liveability scores translating to safe, clean, and green surroundings.

Reasons to buy a flat in the post-covid period:-

Overall flat rates are still in the market recovery phase

Pandemic ceased the construction for safety purposes, and after the lockdowns, the demand for real estate slowly rose. As the demand rises, market rates that are still trying to recover from the pandemic are creating an ideal situation for a customer to invest smartly in a flat. For instance 2/3 BHK flats for sale in Hydernagar and Tellapur are offering great return on investment after the pandemic. Hence, it is the perfect time to invest in best mega High-Rise Apartments in Miyapur, and other areas of Hyderabad.

Best offers on home loans are available

Since the overall economy was hit hard at the national level, the rate of loans fell drastically. To recover from the same, the government offers loans such as home loans at a minimal interest. Any financial advisor would advise you to grab this opportunity, get yourself a home loan, invest in best 2BHK flats for sale in Hydernagar, or grab 2 BHK apartment for sale, or look at the best flat for purchase near Miyapur, amongst other well-connected parts of Hyderabad.

Shifting working patterns and employment hubs

If you are troubled due to the daily conveyance time it takes from home to work, now is a great opportunity. Also, if your work pattern is shifting, maybe you should be moving too. Buying a new flat is a great idea in either of the above-mentioned situations. Moreover, certain areas of Hyderabad are close to eminent employment hubs, which can be your ideal choice.

Also read: Beeramguda: The Ideal Hub for Residentials

Things to keep in mind:-

Consider cross-checking the delivery date

It is great advice to check and cross-check the possession date. In addition, it is advised to purchase ready-to-move-in properties during these times.

Watch out for a lower interest rate

The interest rate on home loans varies from one place to another. So, choose the home loan after careful analysis and comparison.

Consider a financial consultant

A financial consultant would guide you and help you choose a suitable apartment. Not only will they find you the right apartment, they also help you choose the right offer at the right price as well.

Location and home plan

One thing that needs to be taken care of is the location and architectural plan of the residential apartment. For example, best flat for purchase near Miyapur offer 2 BHK flats while luxury high rise apartments in Hydernagar offer 1 BHK, 2 BHK, 3 BHK, and 4 BHK apartments. In other words, different areas of Hyderabad have different home plans and benefits to offer. You can go through all the different parameters while choosing your perfect flat.

Prefer integrated townshipsIntegrated townships

Integrated townships are the best option to get a flat in as they are a perfect balance of residential and commercial areas. They offer an ideal in-built society with full focus on resident’s welfare. They are even referred to as the future of real estate.

Choice of builder matters

We don’t want you to get a flat with poor construction quality. The quality of the house depends majorly on the builder. So always go for renowned and reliable builders’ projects.

• Other things you need to give some research to include the following:
• Connectivity
• Liveability
• Price Trends

Checklist of Do’s and Don’ts before buying a flat:

• Don’t forget to check the property record.
• Check the apartment’s carpet area.
• A legal check of property is a must before putting in your money.
• Find out the status of the possession of the apartment.
• If there are any, be aware of add-on or hidden charges before buying the place.
• Check out the financing and non-financing banks concerning your project’s builder.
• Look out once for your credit score.

Conclusion

As we tackle uncertainty following the pandemic, the true value of protecting our health and wealth is more evident than ever. While no bona fide home buyer can and should not ignore the risks of investing in real estate, the current market conditions are exceptional as well. Having a safe place to live is a basic human need that should take precedence over all other needs. However, you must take into account all the factors to consider when buying a home. Hyderabad has wonderful options when it comes to flats for sale in various areas. Don’t forget to consider a financial advisor and realtor before buying a flat. Since the price is unlikely to adjust, this could be an ideal opportunity for buyers if they can organise their money. As interest rates on home loans have now also reached record highs, home loans are also being offered to buyers and investors at relatively affordable rates.

Also read: Property vs Equity