India, June 7 -- Although the festive season is still months away, RBI's 50 bps rate cut is welcome news for prospective homebuyers, as it will help lower overall borrowing costs. For existing homebuyers, the RBI's rate cut means they can now opt for a higher loan amount without increasing their EMI. The central bank has also adopted a neutral stance, signaling that it is unlikely to either cut or hike rates aggressively in the near term. This suggests that further rate cuts are not expected anytime soon, making it an opportune moment to buy a home-especially for those who are ready and need one.

However, experts caution that undecided buyers should not base their homebuying decisions solely on lower interest rates. Other financial and p...