In 2020, our lives took a dramatic turn. If you were looking for your dream home then, the pandemic especially put a hold on your plans. In 2021 still everyone in doubt, however, there is lots of reason for hope.
As a potential home buyer, you must still be questioning as to when to buy a house in 2021. However, there is not an easy answer, a ray of hope is expected to shine on the real estate market in 2021.
Let’s explore some expert housing market predictions for 2021 and if this is the perfect year to buy the house you’ve been looking for.
Affordable Interest Rates
Yes! You read it right. There have been countless forecasts on mortgage rates falling all-time low, and it’s time you take the benefit from the current housing market. A drop in the interest rates will certainly lower your monthly EMIs. This inline is the best way to save an excellent amount over the life of your home loan. And if you have an eligible credit score, this is the perfect year to buy a dream home.
Home Prices to Stay Stable
The disturbance in the economy because of the pandemic has brought forward a slew of measures by the government to recover the real estate market. Reasonably, property value is expected to remain rather constant or even diminish in 2021. This has reinvigorated potential buyers with many more now inclining towards home buying in 2021.
Large Inventory
Are you a choosy home seeker? Well, this is the perfect time to buy a home. Reports reveal that the residential properties’ inventory is showing a huge climb. This unquestionably makes sure that you have lots of options to choose your dream home. Particularly in big metros like Mumbai, Delhi, Bangalore, Chennai, and so on where unsold properties are rising. This is additionally expected to cut the prices; combined with builders offering the best offers, 2021 seems like the best time for making a home buying.
Government Subsidy
As an initiative to push away the real estate sector from the impact of the pandemic, the government has introduced CLSS (credit-linked subsidy scheme) linked to an affordable home loan. This has further stimulated banks to offer more loans at cheap home loan interest rates to home seekers in need. So, if you invest now, you can reap high benefits in the future.
Did you worry that 2021 just fly off that window with the dream of your home? Then it’s time to visit the site of DLF One Midtown in Moti Nagar, Delhi. Here you can choose your dream home from 2, 3 and 4 BHK Apartments at the best price.