Investing in a property is a big achievement in life. A lot of deliberation, effort, and money goes into it. With so much at stake, shouldn’t you wait for the most opportune time to invest in a home?
The best time to invest in real estate, especially in built property is surprisingly the Monsoon season. Despite it being a lean period for real estate, intelligent investors know the power of inspecting properties during the rainy season. It will reveal everything about the location and the property in question. The heavy rains can help you gauge both the advantages and the flaws in both the location and the building. Property developers in Chennai are also eager to sell their stock during this season for tax benefits.
Here’s why monsoon is the best time to invest in real estate.
Evidence of Construction Quality
The foremost reason to buy a home during the monsoon season is the quality of construction becomes evident. The house is subjected to repeated deluges of rain. If there is any seepage, leaks, dampness, and mold blooms, they all become visible during this time. These signs are often found in the bathrooms, however, the entire house is liable to seepage if the exterior walls and terrace flooring are of poor quality. These signs are not apparent in the summer and winter as there is no exposure to water.
The water seepage in the walls can ultimately lead to efflorescence and cracks. If the foundation of the house is not strong enough or not seated on a proper rock bed, it can settle into the soil during the rainy season. These are major structural issues and can affect structural integrity in the long run. It also brings to light plumbing issues and electrical issues based on the leaks. If the house has withstood the monsoon season with minimal to no damage, you can confidently look into buying it.
Location safety and maintenance
The monsoon season is also great for location scouting, even if you have not settled on a particular property. Property developers in Chennai generally check for location advantages before executing a project there, but it is wise to do your due diligence.
The rains reveal if the area and the road leading up to the property get flooded and there are drainage blockages. It also shows if the roads get damaged. You can check with the neighbors about power outages and backups. You can check how fast electrical and plumbing issues get rectified by the authorities. You would also get an idea about how clean the premises and the building itself are maintained since they get dirtier during this season.
The monsoon season also brings with it the inevitable mosquitoes. If there is significant water inundation or there is water stagnation in the premises, then the property can become a hotbed for mosquito-borne diseases. Check for water stagnation and avoid such properties as it is a potential health hazard.
Access to facilities
On your visit to the property, it is advisable to check its access to infrastructure and facilities like shops, hospitals, public transport, etc. During the rainy season, you can check how easy it is to access these facilities. Property developers in Chennai provide other amenities like water supply, power backup, security, etc as needed. But external infrastructure like hospitals are essential, especially when considering elderly people and children in the family. You should not struggle to reach medical aid in emergencies, especially in the rainy season.
The presence of public transport also keeps you covered when you want to travel to other locations and your family members don’t have to depend on you to go out. Check if nearby shops are kept open when it rains, so you don’t run out of provisions in an emergency. If the project is located close to educational institutions that your children can attend, you don’t have to worry about them getting to school or college during the monsoon.
Less competition and better negotiation
The Monsoon season in Tamil Nadu happens around October – December. The end of the year is the Tamil month of Margazhi. Most Hindus do not make any new investments in this month. It is considered inauspicious. Sellers are desperate to sell before Margazhi. It is also closer to the next Tax cycle and they want to dispose of assets before then.
This gives the buyer a good hand in negotiating the sale price. As discussed before, the rainy season also reveals the potential damages that the property incurs due to water exposure. If the issues are minor and can be rectified on purchase, you can bargain for a better rate. Note down the flaws and use them to pitch your negotiation.
The above reasons are also noted by the sellers too. They tend to offer discounts on the property at the year-end. There is also festival offers since Diwali, Christmas, and New Year happen in these months.
Now is the prime time to look at properties to invest in. The rains reveal so much that we might miss out on in the other seasons. It helps you make informed choices that ensure you aren’t investing in a liability that will rack up costs later. Raunaq Foundations is a developer of Premium Villas in Chennai. Our properties are located and designed to withstand the extreme weather conditions that the Coastal city is subject to. This monsoon, schedule a site visit and let our experts guide you to the perfect 4BHK Villa in Chennai for you. Contact us at 98842 43333.