How to Buy a Home Safely during Coronavirus Outbreak?
The Indian government has officially started taking action to reduce the spread of well-known COVID-19. Our citizen’s health is more important than anything else. However, these safety measures have likely broken up the plans of many people looking to buy or list a home this upcoming spring. The best technique to stay healthy is to stay safe and avoid social situations.
We TopPropMart, care about the safety and well-being of our clients. We’ll go over a couple of reasons why it is actually a great time to Invest in residential REAL ESTATE, and how to stay healthy while doing so.
Why Is It A Great Time To Buy Property?
The other reason why it’s a great time to buy property is because the Coronavirus has caused mortgage rates to drop to record lows, but basically investors have been pulling their money out of stocks. This causes the price of the bonds to go up and about their yield to go downward. The 30-year fixed mortgage rate has a direct relation to the 10-year treasury rate – so as a result, mortgage rates are lower than they’ve ever been in the history of compiling data. This makes it a great time to buy a Property.
Tax and Duty Relief Probable Is Package for Industry
The Reserve Bank of India (RBI) had taken a step to relief industries, including a repo rate cut of 75 basis points, a reduction of 100 basis points in the cash reserve ratio to free up liquidity and a three-month moratorium on loan repayments.
The second economic relief package is meant at making sure that the sectors worst hit by the lockdown are able to spring back quickly once the country reopens.
Industry has called for a fiscal stimulus worth 1% of country’s GDP amounting to Rs 2 lakh crore to counter the economic impact of the Covid-19 outbreak.
Most of the agencies have slash India’s growth forecast for FY21.
How Do We Stay Safe During COVID-19?
So you’ve decided to take advantage of these high offers, and buy during this time of uncertainty. Here are our tips for staying healthy:
- Avoid crowded open houses. Hire a real estate agent, who can make you online showings of homes you’d like to view.
- If you would like to meet with your consultant, consider using video calls or phone calls. This way, you can avoid the risk of meeting in public.
Of course, general health & safety practices also apply. Wash your hands often, and practice social distancing when possible. See the WHO (World health organization) guideline on illness prevention. If you’re experiencing any symptoms of COVID-19, protect your community by delaying buying or selling a home until you are healthy. Your health is always your number one priority. As TopPropMart Consultant we deeply care about the well-being of our community. Stay healthy, stay informed. Let’s keep real estate simple.