Is your home Monsoon Ready?
July 16, 2022
Is real estate a smart decision for a retirement portfolio?
August 1, 2022
Monsoon plays truant to most of the plans we intend to make, especially during a house hunt. The Municipal authorities have gone on record stating that rains and waterlogging in Mumbai city are inevitable. With the annual features of high tide and heavy rainfall during monsoon, the grim reality is that real estate becomes the most significant casualty during heavy rains.
Most buyers and sellers say that the rates during monsoon come down by 10 to 20 percent when renting or buying homes in low-lying, flood-prone areas. Due to water logging, the micro-markets have less appreciation than during other seasons. However, most constructions have built complexes higher than the ground level to deal with the issue. It is always recommended that first-time buyers do multiple site visits to ensure the home they select is not in flood-prone zones or has traffic snarls caused by flooding.
A real estate developer states that developers must focus on civic planning to ensure proper water percolation into the drainage system. The home buyers value homes where civic infrastructure is robust, and the basic infrastructure of the project also needs to be checked for leakages and cracks that would develop due to the weathering caused by seasonal changes.
For home buyers, some of the tips to house hunt during monsoon are
• Inspect the location and approach roads for flooding, traffic jams, and transportation woes.
• Check for construction defects and flaws that are noticeable during the rainy season
• Analyze the problems about leakages, drainage issues causing stagnation, etc.
If you like the home’s look on a less than perfect day, you have found a future pad that brightens you up. If you find yourself wandering in the room, exploring every inch of the space while mentally laying out the furniture and décor, you have found yourself the property you want to live in.
For most home buyers, the worry of owning a home comes with the nightmare of the monsoons. Properties, especially in central and north Mumbai, seem perfect until the grim reality of monsoon dampens the spirit. Most home buyers prefer locations that can add value to their property as an investment in the future.
Projects that are upcoming and close to the social and entertainment hubs are considered safe investments. Properties in a neighborhood with good connectivity and health care are considered prime sites. With the rapid infrastructure development in the coastal side of south Mumbai, the value of the residential properties has improved over the last five years. Residential properties in Worli, such as Vraj Tiara, are considered premium for their prime location, non-flooding zone, and ease of commute.
In conclusion, when we consider home buying as a process to improve the family’s lifestyle from its current. It is important to consider that the search for homes must be finalized only after observing the location and the situation in the monsoon.
1 Comment
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