Post Pandemic, Price is Just One of Several Factors That Homebuyers Consider Before Buying A Home Now

Real estate investments in India and the whole home buying mindset in India has changed. Prior to the arrival of Covid-19, price was the most important and, for many, the sole factor in purchasing a new residence. Nonetheless, as individuals seek facilities that give true value for money, pricing has taken a second place to shifting needs.

From building plans and house loans to the locations of different projects, homebuyers today choose homes based on a variety of factors, as opposed to just ensuring that the property is within their budget.

Due to work-from-home (WFH) and hybrid models, everyone spends the majority of their time at home. Consequently, this has altered the options available to homebuyers. Thus, we examine the three most significant developments in the real estate industry and what purchasers want to invest in coming future.

Bigger Homes Are Back in Demand

In recent years, the border between workplace and personal space has blurred, causing many to opt for a larger house in regions they had not previously considered. As the city's outskirts provide more value for the money, they have become the favoured location. This shift was plainly witnessed in Mumbai, where individuals choose to purchase homes near train stations. However, this no longer holds true.

New locations coming up as home buyers prefer more space

In comparison to the Thane real estate market, Badrinath Pandit, a real estate agent, adds that Ambernath offers larger properties at more moderate prices. With prices rising in Thane's prime neighbourhoods, many property buyers in this region choose to invest in newer areas such as Manpada, where you can get almost one more bedroom for the same price as in Pokhran.

Green Homes Are Considered Important

There is surely a rise in awareness when it comes to people investing in green homes and green real estate across India.

Not just in new construction, but also in older flats, the need for environmentally friendly housing has grown.

According to Nitin Malpa, a top real estate broker and green building enthusiast, one does not necessarily need to invest in new structures for a green house. Post-pandemic, many historic housing societies are also attempting to become environmentally friendly. Housing societies or its elected members investigate ways to embrace eco-friendly practices, such as installing solar panels or rainwater collecting systems, in order for the society to become self-sufficient. This is significant since most communities struggle to supply adequate electricity and water. The strain on urban resources has resulted in a deficit, compelling numerous cultures to adjust their priorities.

Technology is the path to success:

The second obvious trend that has evolved is the use of technology and technologies that make apartment or housing society administration considerably simpler. The traditional technique of the chairman, treasurer, and secretary overseeing the daily administration of the building has been replaced by outsourcing to a business that specializes in or employs technology for building maintenance.

A real estate expert, Pradeep Borge, reveals that several societies and real estate developers have chosen for little human interaction in the operation of things. Numerous duties are now automated, including entry/exit, usage of elevators, quiet deliveries to residents' doorsteps to ensure little disruption, etc. A variety of security equipment and applications now ensure that your house is entirely safe and that you have comprehensive visitor information on your mobile device.

All in all real estate in India is witmessing a major transformation and with more tech upgrades coming, with more green awareness being spread, with more options like work from home becoming the norm - the future of both residential as well as commercial real estate across India is bound to change for the better.