After saving a good amount of money, I decided to buy a house but wasn’t aware of when is the best time to buy a house. I therefore consulted with a friend working in real estate for help and learned that the ideal month is March. It is the best time to buy a house, as you will save a lot on taxes. I have learned a great deal on this topic so let me share some insights
When is the Best Time to Buy a Home?
Real estate industry experts believe that March is the best time to invest in real estate. It marks the end of the financial year, i.e., before 31st March. At this time, there are fewer buyers, yet plenty of opportunities are available to enjoy tax benefits.
The few months of the fiscal year witness a considerable reduction in homebuyers' demand and provide opportunities for people to capitalise on this lesser-known investment prospect. So I hope this answers when is the best time to purchase a home and why. Here are some more advantages of investing in real estate in March:
Properties are much more budget-friendly during this time of the year
Several housing companies and banks offer discounts, schemes and plans suitable for making a property purchase
Homebuyers can avail of additional tax exemptions over the principal on the home loan and while filing the ITR, they can save a good amount of money by filing returns on the amount paid towards the loan
Under section 80C of the Income Tax, home loan borrowers can save up to Rs 1.5 lakh on the principal amount
Similarly, under section 24, Rs 2 lakh on a self-occupied house and an additional Rs 1.5 lakh under Section 80EE can be claimed in case of a first-time buyer
You will find a smaller number of homebuyers; hence, the competition is less during this time
These are the reasons why March is considered the most suitable time to buy a house. I hope my comment on which month is best to buy a house will be helpful to you.
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Authors Of The Question
When is the Best Time to Buy a House?
Pratyusha
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1 Answers
3 months
2024-10-15T08:55:12+00:00 2024-10-15T08:55:12+00:00Comment
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