A home is everyone’s dream. However, for those looking to buy a house, there are many questions. In the current phase, when the real estate market has somewhat slowed down, is it a good time to buy a house now, or should one wait a little longer? Will prices increase or decrease? Such doubts linger among prospective homebuyers. Real estate experts, however, suggest that if someone wants to buy a house, they should do it immediately. They explain that house prices generally rise and rarely fall, but since the market has eased slightly now, buyers can get homes at relatively lower prices.
Many people wish to buy a house according to their budget in a suitable location. Financial considerations often lead to postponing purchases, but experts stress that delaying a home purchase is not advisable. In Hyderabad, the construction sector has slowed down a bit recently. For the past two years, the real estate market has faced turbulence, with construction and sales activity not as robust as before. Over the past year and a half, the pace of construction in Hyderabad has decreased, and the launch of new projects has been limited. Accordingly, home sales in the city have seen some stabilization. Experts attribute this slowdown to factors including Hyderabad’s market conditions and government policy matters under the Congress administration.
Should you buy a house now or wait a while?
Real estate experts say that since last year, home sales in Hyderabad have not been as strong as expected. No one can predict exactly how long this trend will continue, which has left prospective buyers in a dilemma. Many feel that waiting for some time might be better, hoping that property prices could stabilize or even drop in the near future. Even though prices have not decreased yet, there is a perception among some buyers that if the current conditions persist, prices might come down slightly.
Because of this, a number of buyers are adopting a “wait and watch” approach. This uncertainty has made several potential homeowners hesitant about making a purchase right now. However, real estate experts advise that such periods — when the market is slower — can actually be an opportune time to buy a house, rather than delaying the decision further.
Right time to negotiate with builders
Real estate experts say that buyers looking to purchase a home should view the current market slowdown as an opportunity. Housing prices are currently somewhat affordable, and Hyderabad, in particular, has lower average prices per square foot compared to other major cities in India. Additionally, with the market moving slowly, buyers who engage in negotiations with builders now may be able to secure a slight discount. Builders are reportedly offering reductions ranging from ₹100 to ₹300 per square feet for serious buyers. This makes it an ideal time to bargain and potentially get a home at a more reasonable price.
If you want the home you like, this is the right time..
Real estate experts say that Hyderabad currently has hundreds of large residential and commercial projects that are fully constructed and ready for sale. Buyers now have a better chance of selecting a flat in their preferred floor, orientation, and layout. When sales are high, it’s harder to find a unit that matches your exact preferences, but with lower current sales, the opportunity to pick your ideal home is higher. Additionally, if you want a flat that suits your family’s space requirements, now is the perfect time. Experts also note that considering factors like Vastu, buying a home at this moment is the correct decision.
Time available for payments..
Real estate experts note that except for a few investors, most buyers purchase homes primarily for personal use—whether it’s a house, villa, flat, or a plot for future needs. These purchases are usually long-term, planned investments. When the market is relatively stable, it’s considered a good time to buy, as there isn’t the risk of overnight price hikes. Buyers may even have some room to negotiate a slightly lower price or get extra time to complete payments. Since the current market is sluggish, there’s a chance that prices may rise later, so experts recommend making the purchase now before such conditions arise.
Buying ready-to-move projects offers several advantages..
The market currently has a large number of apartment and villa projects under construction. Alongside ongoing projects, there are also residences ready for possession by the end of this year or the beginning of next year. Prices for these ready-to-move-in projects have remained relatively stable for some time. In a slow market, some builders are offering special deals. Purchasing a home in a ready-to-occupy project has multiple benefits. Buyers can move in immediately, avoiding the burden of paying rent. Additionally, buying a ready-to-move-in home eliminates the extra EMI burden that comes with under-construction properties. The quality of the finished project is also clearly visible, allowing buyers to assess it firsthand.
Prices are expected to rise, not fall..
Real estate experts say that in the coming years, the demand for housing, office spaces, hospitality, retail projects, and the land required for these purposes will increase. Factors such as population growth, urban migration, and rising incomes will also impact property prices. Therefore, experts advise buyers to move past the hesitation of “should I buy now or wait?” and make confident decisions. However, while purchasing, it is important to choose projects with all necessary approvals in place, avoiding properties in FTL or buffer zones.