Is this a good period to sell homes?

People, in general, are unsure of whether the current scenario – post lockdown and pandemic aftermath restrictions – is suitable for selling their homes. Most property owners who were on the verge of selling their properties during the beginning of this year, 2020, had to suddenly stall their deals and plans in the wake of the COVID pandemic and the ensuing lockdown across India.

Property owners can be rest assured that NOW is the best time to sell their homes/properties! There are several reasons for this positive turn in the real estate sector.

During the pandemic-imposed lockdown, more people got time to sit down and discuss and think about their income, investments, and property. Considering the lull in the job market and the slashing of regular salaries, more people have come to the conclusion that it is a better idea to buy a home than pay monthly rents. This would be a better long-term investment than other options.

With the economic slowdown in mind, rather than going in for more loans or mortgages, it is better to monetize your existing property – house or flat. There are many people ready to buy homes out there.

The COVID scenario brought about a reverse migration of people; people living and working in cities preferred to en masse go back to their native towns and villages to survive the long lockdown ridden with an economic lull. When hordes of people returned to their native towns, there was a sudden surge seen in the property prices in the sub-urban and rural areas while there was a dip in the major and metro cities.

Therefore, those homeowners who had invested in property in such sub-urban and rural areas at a very small price can now reap a fortune by selling to the current demand.

House owners in cities find their rented houses/flats empty due to people leaving to their native places during the pandemic. Selling these houses now is a good idea when the lockdown is slowly eased and people want to buy ready to move in houses/flats.

Another category of home buyer is those who were living in very posh and high-end residences and paying huge rents or maintenance. During the pandemic this category of people prefer to buy houses/flats that have the basic amenities and easier to maintain at lesser prices.

Finally, another key reason to assure home sellers to sell homes is that there is a huge population of NRIs and Indians working abroad returning to India due to COVID. Considering the lack of space and amenities in their regular family homes and relatives’ houses, these people would prefer buying homes to suit their needs and amenities. They would be more than willing to invest in ready to move in houses/flats and not bother disturbing their extended families by sharing their accommodation.

So, if you are a house owner looking to sell a house/flat and hesitant if the timing is right, be 100% confident of the current trend and go ahead and put up your property on and sell at the best price!

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