IS THIS RIGHT TIME TO BUY HOME OR PROPERTY?| HOME LOAN INTEREST RATE HIKE | BUY HOME NOW|REAL ESTATE
Channel: Equity2Commodity
Date: 2022-06-06

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In this video, we discussed "Is this a good time to buy a Home or Property?"
Before going to find the answer Is this a good time to buy a Home or Property? We have to understand "Why RBI Increases the Repo Rate". Its effect is temporary or permanent?

Why RBI Increase the repo rate?

Industry experts said with inflation edging higher in the aftermath of the Russia-Ukraine war and the surging oil prices, the RBI took a tough unscheduled decision in an off-cycle monetary policy meet.
Moreover, rising interest rates and inflationary trends in basic raw materials in construction, including cement, steel, labour cost etc., will add to the burden of the residential sector, which did significantly well in the previous quarter -Q1 2022.

Expert opinion:
The expert said that from a real estate perspective,  We will see more hikes in the interest rate of home loans in the near future. 
In fact, in a recent interview with CNBC-TV18 channel RBI governor Shaktikanta Das said “Expectation of a rate hike is a no-brainer”. 
The next meeting is expected to be on June 8. This means the banks are bound to increase the interest rate on home loans even further. Experts believe this is the end of the low-interest rates regime that we enjoyed. Interest rates were at a 15-year low! 

Why Buy Now?
While it's clear the interest rates on home loans are bound to rise, those wanting to buy a home should also account for the increase in the prices of the homes itself. 
Average residential prices increased by 4 percent year-on-year between January and March, a study has revealed. Analysts say there can be a meaningful increase in prices over the next 6-9 months in the range of 5-10 percent, across most markets.
So those looking to buy a home should do so now before the increase in prices of homes or your dream home could cost you more.

To conclude now is the best time to buy a home. Buy now
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