When you talk about the perfect time to buy a property, most people would say that the summer season is the most ideal time for it. While the idea of buying a property during summers may have some merits, but it is probably not the best time to buy a property from a financial standpoint. The burgeoning demand for properties during summer makes it expensive to buy a property during that time. So the best time to purchase residential properties, such as a 1 BHK in Navi Mumbai is during the monsoon. Now the natural question to follow that statement would be "Why?" Well, look at the following factors and you would find a more than satisfactory answer to that question.

Low demand reduces property prices
Now, because most people avoid buying flats in Kharghar or any other area during the monsoon, there is a low demand for properties during that time. And as the laws of demand and supply would suggest, the reduction in demand has a similar effect on the price of properties. As the number of sellers is far greater than the number of buyers during monsoon, property owners must reduce their asking price for the property in order to effect a sale. The buyers stand to benefit from this move as they would be able to buy flats in Navi Mumbai at a lower price.

Cheaper home loans
As the demand for home loans reduces during monsoons, as a consequence of the reduction in demand for properties, banks and NBFCs lure customers by slashing their home loan interest rates. Property buyers could leverage their position and negotiate with the lender to obtain a home loan at a reduced rate of interest.

Ample time to find the ideal property
During periods of high demand for residential properties, there is always a chance that the property you have got your heart set on could be bought by someone else if that buyer acts quicker than you in making a decision and paying the token amount. During monsoons, however, there would most likely be no such issues as the competition among buyers is almost non-existent. You will have all the time in the world to carefully analyze various aspects pertaining to the property purchase without worrying about the prospect of someone beating you to the post. You can find your dream property in Navi Mumbai in the most hassle-free manner possible.

Lower charges for packing and moving services
Just like most service providers, packers and movers also reduce their charges during periods of low demand in order to attract customers. So if you move during monsoon, when there aren't many people shifting homes, you could secure the services of the best packers and movers in town at a massive discount from their usual charges.

Also, Read - 3 economic factors you must analyze while buying a property in Navi Mumbai

The 4 factors discussed here strongly suggest that buying a property in Navi Mumbai is a great idea from a financial standpoint. If you are looking for a property in Kharghar, Siddhivinayak Homes' Riddhima is an excellent project. Siddhivinayak Homes are one of the most reputed builders in Navi Mumbai and just like all their projects, Siddhivinayak Riddhima has spacious and luxurious flats, all the requisite facilities and amenities that you could ask for, and highly attractive prices. Do check out that property if you are looking for flats in or around that location.

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