Raksha Bandhan is approaching fast in August. This is the festive occasion to celebrate siblinghood. This year, Raksha Bandhan falls on Monday, 19 August. People buy gifts and other things to mark the festivities.
Like many others, you might also plan to buy a property during this auspicious occasion. It could be a home or a commercial property such as a shop. Buying a property during Raksha Bandhan is considered auspicious.
Let’s check out why Raksha Bandhan is considered the best occasion to buy a property.
Why buy a property during Raksha Bandhan?
Raksha Bandhan is considered a favorable day to buy property. This is because of many events associated with the day. The day is associated with the longevity and stability of property investment. Also, the festival symbolizes safeguarding and nurturing relationships.
However, it also has cultural significance that can be traced back to ancient times of Mahabharata and Alexander’s invasion of India and the Mughal period.
Krishna and Draupadi were like siblings. Drupadi tore a piece of her cloth and wrapped it around Krishna’s finger, which was injured when he was passing sugarcane to Rukmani. Krishna then promised her that he would come to her help whenever she called him.
During the Alexander’s era, it is said that his wife Roxana had sent a rakhi to Porus, the king of Pauravas. She requested him not to hurt Alexander during the war. So, even when Porus lost the battle, Alexander appointed him the kingdom’s governor.
Another story that makes the day auspicious is that Rani Kamavati, the Mewar Rajput queen, sent a rakhi to Emperor Humayun. She asked him to save her kingdom from the Sultan of Gujarat. Humayun immediately sent the forces to defend her kingdom.
These all stories showcase the significance of rakhi thread and the protective nature of brothers for their sisters.
Tips to buy a property during Raksha Bandhan
You might be planning to buy a property for your family on the auspicious day of Raksha Bandhan. That is undoubtedly a great idea to delight your family members. But investing in a property is an once-in-a-lifetime opportunity for many. So, invest carefully by considering some of its aspects. Here are some valuable tips to consider:
Research the market early
When buying a property, ensure that you scan the market extensively. The property market is big, where you can locate a house or commercial property that is well within your budget. With many real estate companies and dealers offering properties, compare them for their prices and locations.
You can research the local property market on your own. But that will be time-consuming, and you will need some experience to make the right buying decision. Therefore, you can approach a real estate agent to know the viable properties available. Compare the different locations and other options accessible with the agent.
Consider your budget and location preferences while comparing properties. Then, you can lower the property prices further by negotiating it with the real estate agent.
Act fast to own the property
Once you have pinpointed a property, do not delay buying it. Take the buying action immediately. This is because thousands of people search the property market daily. Some might finalise the deal before you reach out to the agent.
It could be that the seller has buyers already and is considering to finalise the deal soon. So, talk to the seller immediately and negotiate the prices and other terms and conditions involved.
Be flexible regarding the buying date
Since you wish to buy a property on Raksha Bandhan’s auspicious day, it could be frustrating not to be able to seal the deal. But if you want to take advantage of the property, it is advisable to be flexible with the dates.
Many sellers may not be interested in closing the deal on a public holiday such as Raksha Bandhan. Your sellers may also be one of them. Therefore, adopt a flexible approach and wait a few more days to sign the deal.
Show that you are a serious buyer.
Sometimes, real estate agents give the impression that a buyer just wants to compare properties and has yet to buy. That discourages the agent, and you might lose some attractive deals.
To protect yourself as a serious buyer, get yourself pre-approved for a mortgage or pre-arrange a bank loan for home. That will convince the sellers that you are out to buy a property. The mortgage approval will also indicate that your financial means are strong. So, the seller or the agent will be more interested in showing you the right deals you can sign immediately.
Negotiate hard to bring down the price
The seller will surely reduce the prices of your choice of home or other property if you negotiate well. Even the seller is prepared to negotiate with the buyers. So, consider lowering the prices as much as possible to save money.
Note also that when buying a home and paying its entire price at a time in cash, the seller is most likely to reduce the cost. That means you will own the property cheaply on auspicious occasions.
Get your documents ready
When you finally search for the right property at the right location, you need to consider the documents required to buy a property. Therefore, have all the necessary documents with you well in advance. You will require a pre-approval letter, a mortgage application, and proof of funds. There are many more documents involved in buying a property. These documents include:
- Agreement to sell
- Absolute sale deed and title deed
- Title search and report
- Khata certificate
- Receipt of property tax
- Encumbrance certificate
- Occupancy certificate
- Statement from the bank if a loan is outstanding
- Non-objection certificate,
- Sanctioned building plan by statutory authority
Consider these tips when buying a home or a commercial property on the auspicious occasion of Raksha Bandhan and other days. Make sure to compare the offers from different sellers and negotiate the prices accordingly.
Wrapping Up
Avoid signing a deal quickly when buying a home or a commercial property during Raksha Bandhan. Instead, start searching for the property early to compare multiple seller offers and negotiate prices. Prepare your documents to sign the deal when you finally want to buy.
