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RM Reports

How not to get lured by freebies during Diwali?

The festive season has already started and it is considered auspicious for property purchase. Since Indians are sentimental buyers, they prefer to make informed property buying decisions during this period. To encash on the increased demand during the festive season, builders, on their part, leave no stone unturned to lure customers with freebies and discounts.

What all discounts and offers developers make?

Freebies and discounts like cash discounts, no-GST offer, discount on down payment, flexi-payment plans, no registration or stamp duty fees, no EMIs till possession, free home appliances or gold coins, etc.

Marketers leave no room blank to trap buyers with their exciting offers. So before you get enticed by their offers, we request you to understand the offers. They can be divided into four major categories: Cash or cash equivalent discounts, non-cash discounts, subvention schemes and relaxing GST.  Do your study and proper research before investing in any project.

But you must keep your ears and eyes on

It’s really easy to get lured by the enticing freebies and discounts. But before getting attracted to any of the offers and taking purchase decision buyers must do a 360-degree research, after all, it’s his/her hard-earned money.  When you are in a fun mood and willing to spend, you are also most vulnerable to businesses who want the rapid sale of their goods. Hence do keep in mind the following things before making the investment decision:

  • Do not blindly trust on freebies or fall for unreal urgency like last day/limited stock. Prioritize your requirements.
  • Mostly discounts and schemes are similar to those of last year with very minute changes so please compare them and then take a wise decision.
  • Don’t fall in the trap of festive sales. Properties in a certain market are already available at a discounted price. If the builder is touting the deal as ‘limited offer’, be aware that post-festivity, the benefits would remain almost the same or will be translated into some other offer.
  • Look for a property that suits your requirements. Freebies and offers should be incidental to the decision.
  • Look at the project’s location, features and amenities, quality of construction, and the quoted price; and compare these with other options in the vicinity.
  • You should evaluate all freebies and offers in terms of money. Instead of accepting offers and freebies, negotiate for cash discounts
  • Resist peer pressure, don’t spend just because your family members or friends are spending.
  • Think through your purchase and try to escape from artificial discounts.

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