Some Reasons Why Winter is A Good Time to Buy Real Estate in Pakistan

January 10, 2022

 The real estate sector in Pakistan has always been a good investment option for many people. The reason being that property prices are relatively stable and the economy is on the upswing. 

However, with inflation having reached alarming levels, it has become difficult to maintain your money value. 

If you have decided to invest in property then here are some reasons why winter is a good time to buy property in Pakistan: 

1) Property Prices Are Low 

This year, we can expect property prices to drop further as a result of the growing inflation rate. It would be a good idea to wait until the market settles down before buying a property. 

2) You Can Get Tax Benefits 

During winters, there are fewer buyers around which means tax benefits for property purchases will be more attractive than during summers. This makes winters an ideal season to purchase properties. 

3) The Government Offers More Rebates During Winter Sales 

There are certain incentives offered by the government for winter sales. These include a 10% rebate on stamp duty, free legal services from the lawyers’ guilds, and tax deductions for home improvements such as insulation, air-conditioning, etc. 

4) There Will Be Fewer Showings and Inspections 

During the winter months, there will be a smaller number of showings and inspections because of lower buyer traffic. This means that the chances of any flaws or defects coming to light are also reduced. 

5) Houses Sell Faster During Winter 

Winter is a good time to sell your house as most people prefer not to move out during this season. Also, if you decide to sell your house, you will get a higher price for it due to fewer competition. 

6) People With Bad Credit Ratings Are Less Likely To Apply For Home Loans During Winter 

Many banks offer discounts to customers with bad credit ratings. However, this will be less applicable during winter. Therefore, it is better to wait till the market settles down before applying for a loan. 

7) Banks Offer Discounts on Mortgages 

Banks usually offer discounts on mortgages during winter. The reason being that there will be fewer people looking to take loans at this time of the year. 

8) House Insurance Is Cheap During Winter 

Insurance companies offer cheap policies during winter due to low demand. Therefore, it is advisable to buy insurance during winter as you can save a lot on premiums. 

9) Winter Is an Ideal Season for Moving Out of Your Rentals 

Most tenants prefer moving out of their rentals during the winter season as they don’t want to pay rent during the cold weather. Therefore, it is a good time to sell your rental property and make some extra cash. 

10) Weather Conditions Are Better During Winter 

Weather conditions in Pakistan are better during winters compared to summers. Also, there will be less chance of getting affected by the heat waves during summer. 

Final Words 

Winter is a good time to buy property in Pakistan. It is an ideal season for both investors and homeowners. As mentioned above, there are several advantages associated with buying property during winter. If you haven’t bought a property yet, then now is the best time to do so. 

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