GENUINE OFFER OR MARKETING GIMMICK
How should buyers differentiate between a genuine bargain and a marketing trick?
Festivals in India are those cheerful times when everyone wants to fulfil their held back wishes. Building on these positive sentiments, developers push their sales through offers of discounts and gifts. More often than not, festivities make us do things impromptu. Sometimes, seeing others around us buying, make us do those unnecessary purchases. But, when it comes to home buying, make sure not get under peer pressure or make impulse purchases.
Developers offer discounts and incentives to increase sales of inventory not getting sold or to fund under construction project. To cut their losses or for projects under long gestations, developers offer genuine discounts. Put your down payment only after duly assessing the property and credibility of the developer and surely you will not regret catching hold of that festive bonanza offer.
Home loan is a long term commitment and home is a once in a life time buy. Due diligence on a property and the developer is a must. Don’t be lured by the attractive festive offers and research meticulously to identify a genuine offer. There are reputed companies across the country that you can rely for a great deal.
5 ESSENTIAL DO’S FOR HOME BUYERS
Research the projects in vicinity and investigate the property you are looking to purchase.
• The project should be RERA Approved.
• Check if the project is approved by a major bank or financial institution
• Gather Information on developer’s track record of project delivery
• Go for a trusted brand of Real Estate Company with a legacy of work in the area.
5 ESSENTIAL DON’TS FOR HOME BUYERS
Don’t fall for slogans such as ‘limited period offer’, ’Only few days sale’ etc. available etc. There will be next such offer just round the corner.
• Don’t fall for useless freebies and rather ask for price discount.
• Don’t blindly accept the Pre EMI offer as such properties are generally priced higher.
• Don’t buy a property because of the lucrative sales offer. Better to defer a purchase if unsure of the project.
• Don’t forget to read the fine print of Terms & Conditions.