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Wednesday, July 17, 2013

Is this the right time to buy property? We settle it once and for all!

Keep your dreams big and your plans realistic. 
Is this the right time to buy property? We have been staying up at nights, thinking about an answer to that question. And after many such sleepless nights, we do have an answer. Yes. Can we informalise that a bit? Hell Yess!

If your horoscope got you here with the promise of gain today, you may close this page now, go and make that real estate investment and reap some great benefits. We have said yes already.

If you are a broker, builder, consultant, real estate enthusiast or a father in law to someone, please read on cautiously as this could suddenly blur the lines of faith you have so carefully drawn in your long (meaning 3 years) journey as a serious real estate trend follower.

How is the economic scenario now?

When we got past the December 2012 end of world deadline, we knew something was not going to be alright ever again. Half the world's rich people had taken huge debts, blown up all the money on caviar, other kinds of meat ;) and fast cars (these guys are to be forgiven, okay?). And then, whatever they had left was spent on the Armageddon Eve's party. All these guys must have felt pretty crappy when they woke up alive the next morning. Jokes apart. The economy is bad and that should summarize the situation in a way. Inflation levels are crazy. Credit is hard to come by and there is that general gloom in the air. People in service and business are equally affected and sentiments are pretty low. One word? Tough.

So, should I invest in that property now?

Don't worry, we have not been paid by a consortium of real estate builders to write this post. We won't even go into technical reports explaining how the sacking of that Swiss banks's hot receptionist will positively affect the Indian economy. We will just stick to the simple laws of nature and life. We will tell you something that your mom and dad have told you since the time when you did not know that your wee wee had alternate functions.

"The easy way is almost always the wrong way. The right path is the toughest path, son", your father must have told you a long time ago.

These are tough times. Back in 2007 and 2008, real estate builders picked up a lot of money from people all over the world to build properties in India. They got these funds with the promise that 5 years down the line, the investors would be walking away with double of what they had invested. Sadly, that has not happened yet. We reckon it won't for some time to come.

You were expecting some big business or a hefty raise in your salary but that has not materialized either. But if you look around you closely, you would find that some great properties are selling at the 'right' prices. And your mother will confirm that making an investment at the right price point is a sure fire way to make money.

When most people are desperate to sell, you should be out there to negotiate hard, get yourself a few good deals lined up and then, choose the best among the lot. Trust us, that if you do that, you have already will come out a gainer.

Quick Verdict

There is nothing called easy money, contrary to the general Indian belief these days. It is the right time to invest in property now simply because that investment is not going to be an easy one. It will hurt you, it will give you sleepless nights and it will affect your spending power heavily.

And those are the reasons why, the property investment you make now, will pay you big dividends in the near future. Go ahead. Do your due diligence and write out that cheque.

Cheers!

About the author
Rahul Mishra is a real estate professional who started his life as a salesman, selling homes in the city of Kolkata since 2001. He worked pan India in real estate organisations like MMG Realty, Bengal Shrachi, The Phoenix Mills and The Space Group before helping co found Pillars with a single objective - To make real estate easy!

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2 comments:

  1. Your opinions are quite interesting, I enjoy reading what you write. Hope to hear more from you.Sharon Bush

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