Is it the best time to buy a house?

This is for those of you who are facing the dilemma over the purchase of a house.

Is it the best time to buy a house? If that’s the question crossing your mind then you ought to read today’s Economic Times.

Here are the excerpts fron an article under the headline - Can borrowers expect a further fall in rates?

Some banks are yet to offer the reduced rates to their existing customers. In such a scenario, a floating rate loan would be an ideal choice. Since there is a possibility of reduction in rates, floating in these turbulent times is better than being locked at a high rate. Those who are unsure can wait for the turbulence in the markets to quell.

Real estate has been an ideal hedge against inflation over a long term. Limited land resources, a growing economy and increasing population make real estate an ideal investment avenue. When demand for housing goes up compared to supply, prices shoot upwards. With a fall in rates on the horizon and lucrative bargain deals offered by developers, it is time you seriously explored owing a house.

And this is the time, because many industry experts feel that soon the market will stabilise and when that happens property prices may rise again, especially considering the fact that the government is leaving no stone unturned to boost the realty market.

Also read And now houses you can afford…