The monsoon season is often an eye-opening experience for prospective home buyers, opening doors to provide valuable insights on their intended purchase. During this, a real estate property and its surrounding areas are significantly different compared to the rest of year.
Local Infrastructure and Amenities
Real estate experts advise that home seekers should visit the construction site more than once, before coming to a final decision. Monsoons are an apt time for buyers to go house hunting in a country like India and assess the condition of the building and the area around it. Most cities in the country go into a grid-like lockdown the moment the first showers hit. Hence it always advisable to pick a home where the drainage system is efficient and not draconian.
Quality of Construction
This is the best time to check the overall quality of construction of a house including issues like ceiling seepage and leakages near the washrooms. The monsoons serve as the biggest litmus test when you’re choosing a home to move into as it reveals a side to it you would not have seen during any of the other seasons.
While checking construction quality may not always be possible in a property under-construction , the rainy season is the perfect time to assess the quality of a resale house. The monsoon actually puts any building, even if it is from a reputed builder with high quality of construction, to the test.
Probably the best time to negotiate
With issues like leakages during the monsoons, buyers tend to make the most of it and make the deal work in their favour. If a buyer likes a particular property that has seepage issues in and around the building or a leakage problem, then, the prospective buyer has a chance to bargain further and get a fairly good deal and get it solved. This may not always be possible in dry weather conditions.
As the demand for properties tends to nosedive in the monsoon season, a lot of developers opt to offer homes at exorbitant discounts. It is an excellent time for home buyers, especially for those looking at resale properties. This is usually when demand is less and sellers are willing to negotiate on lowering the price for serious buyers. Moreover, with a large number of individuals preferring to invest in real estate during the festival season i.e Diwali, Dusshera, etc, builders use the monsoon season as a stepping block of sorts to boost their sales for that quarter.
- One can gauge whether the property has problems pertaining to seepage, leakage from the terrace, drainage issues leading to stagnation of dirty water, etc.
- For a resale home, a final inspection in this season, can reveal construction quality and how the house has been maintained. One can usually use a Home Inspection Service like Snagitout, to help out in matters such as these.
- In cases, where flaws in the project become evident during the rainy season, buyers can bargain and also ask the developer to mend the same. You really should be using Snagitout here. 🙂
- As it is a lean period, when it comes to sales, sellers may be willing to negotiate heavily on the price.