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Is it the right time to buy a house?

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Is it the right time to buy a house?

Last updated: June 30 2011
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  • #21

    #21

    Re : Is it the right time to buy a house?

    wait for 6 months

    what i feel is that,currently the cost of flat is too much. just think that paying a 15-20% down payment which is 10 Lakh for a flat costing 40 lac.
    and also for the rest of the amount we have to pay the emi for 20 years.
    Personally I Feel that once you bought the flat,employeed people like are not able to do anything more than flat in their life.

    Comment

    • #22

      #22

      Re : Is it the right time to buy a house?

      Originally posted by neerajbans View Post
      However to say that builder has 50% margin is a myth, nobody makes more than 15%-20% after all the costs (incl. bribes) and in the recent tough times it may be even negative.
      There are cases where builders have even made over 100-150% profits especially for the projects they started in 2005 & sold in 2007-08.

      The margin is no less than 50%. Had that been the case, how can builder buy fleet of Mercs & BMWs ??

      Man, I know a person who is constructing a 5 BR bungalow on 4000+ sq ft plot for price less than Nandan Prospera's 3 BR flat in the same area with direct access to Baner road (no DP stuff). And yes, he has purchased the land few months ago & the specs & quality are 10 times better than Nandan.
      If you are happy, you are successful.

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      • #23

        #23

        Re : Is it the right time to buy a house?

        Originally posted by anilsrikanti View Post
        All Senior Guys,,,,

        THis is a general question...

        Forgetting about the area and the value..How much a 1000sqft flat costs in construction for a builder including all coatings..tiles and other amenities that they offer??

        if a flat price is 40L...i Wonder whether a flat atleast constitute 15 lacs..?? (considering total cost/1 flat cost)..!!!!!!!!
        The constro cost 700-900/sq ft for the builder. Also remember that you pay builder based on SALABLE AREA which includes terraces & not CARPET AREA.

        Hence, comparing 4000 sq ft bungalow with 4000 sq ft flat is wrong.
        If you are happy, you are successful.

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        • #24

          #24

          Re : Is it the right time to buy a house?

          Right time to sell

          Answering the original question,

          This article says that it is right time to sell.
          Is this a good time to sell your house? - The Times of India

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          • #25

            #25

            Re : Is it the right time to buy a house?

            Hi

            Originally posted by aditi sharma View Post
            Answering the original question,

            This article says that it is right time to sell.
            Is this a good time to sell your house? - The Times of India
            Hi aditi,
            Thanks for the article.
            I have read most of your posts and really admire your views.

            But i have few doubts.

            But do you think that the property prices will correct in Pune?

            What i think is if someone is looking for Flat for Staying (Not Investment), he/she should look for ready possession flat (Possession in 2-3 months).
            That way they will not suffer by delays due to market slowdown/material availability etc etc.

            Whats your say on this.

            Also most of the people comments about the projects + and - points abt it.
            But then there are very few builders who are genuine in there quality and big number of takers.

            Regards,
            Mahesh

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            • #26

              #26

              Re : Is it the right time to buy a house?

              [QUOTE=maheshnale;201205]

              Originally posted by maheshnale View Post
              But do you think that the property prices will correct in Pune?
              Well, who can predict ? But seeing at current scenario, it is too hard to buy for almost everyone. If there are no takers, there will be correction. But my take on buying is on affordability and market sentiment. Right now, everything is negative about buying.

              Originally posted by maheshnale View Post
              What i think is if someone is looking for Flat for Staying (Not Investment), he/she should look for ready possession flat (Possession in 2-3 months).
              That way they will not suffer by delays due to market slowdown/material availability etc etc.
              Agreed 100%. Always buy ready possession, its not worth to get few hundreds of discount (it makes a few lakhs in the total) to wait for 3-5 years for possession, keep on paying EMI+rent, and wait for the unexpected things to happen. Ready possession is 'what you see is what you get'.


              Originally posted by maheshnale View Post
              Also most of the people comments about the projects + and - points abt it.
              But then there are very few builders who are genuine in there quality and big number of takers.
              Yes, there are many factors to consider. All reputed builders in pune are crap. Also there is no consistency you can expect. If a builder delivers a good project, There is no guarantee that the next project of the builder will be good. He may still screw you up. See mittal builder in sinhagarh road.
              Price is not the first thing to consider if the project is good or bad. First thing is all legal aspect of projects like approvals / any land issues etc. Then look for the location/construction quality, and of course affordability.
              My funda for affordability is simple. If I can finance 50% of total cost, and rest 50% of loan such that EMI does not exceed 40% of my salary, then its affordable. I wont buy untill I can't finance atleast half of my home. Any flat bought at 80% loan is just flat owned by bank and rented to you at 3x rent for next 20 years.

              Comment

              • #27

                #27

                Re : Is it the right time to buy a house?

                the cost is too much , shall be avoided buying at current levels.

                but in india there is always inclination to put money in gold and real estate

                so most of the times builders found one person or the other who is willing to pay

                Comment

                • #28

                  #28

                  Re : Is it the right time to buy a house?

                  Originally posted by maheshnale View Post
                  ...
                  But do you think that the property prices will correct in Pune?
                  ....
                  I am not saying this scene will be every where in Pune, but in my society, i had seen (with my own eyes... ) SQFT Rate printout as '4,400 / SQFT' on sales office wall...

                  Couple of days back (on Sunday, to be precise), one of my friend made an inquiry for 3BHK and sales chap told him rate as 4,200 / SQFT.

                  Project is Zinnea, near chandani chowk...

                  Comment

                  • #29

                    #29

                    Re : Is it the right time to buy a house?

                    hi frends..

                    followed all ur comments ..rearding..correct time to buy house & concluded to fact that..wait for some more time.

                    why so...?

                    do we really need to wait..as its been said..price may hike again by next month..wot say All.

                    regards
                    mintee.

                    Comment

                    • #30

                      #30

                      Re : Is it the right time to buy a house?

                      Prices will only reduce if:
                      1. There are very few buyers in market compared to properties on sale.
                      2. There is a slow down in economy coming or in in place.

                      Now the economy does not look like tanking in near future but if does then no will buy even you.

                      The end users are although finding it difficult to buy these days but i have seen so many people putting at stake everything to buy a house.

                      At these prices only long term investors(parking black money) will enter the RE.

                      Builders will try their best to use these two types of buyers to sell some inventory and then try to hold and not negotiate or increase the price.

                      Anyone who can afford to buy the house without taking too much loan, without degrading the living standard and still able to save something for retirement, should go ahead and buy otherwise just rent and thank all those who bought these apartments for you to stay.

                      Comment

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