Real estate being the most preferred asset class has witnessed a shift in consumer preference especially during the time of the pandemic. Because of this pandemic, homebuyers have become a bit more observant in making decisions in regards to their investments as the pandemic has made people realize the importance of owning one’s own home.
As you have seen, the government has put a lot of effort towards affordable housing policies and also has reduced home loan interest rates to make it a perfect window for homebuyers. By this, the homebuyers and the investors can take advantage of it.
The preference of the buyer will now be on the townships on the periphery of larger cities, ready-to-move-in (RTM) properties, and provisions of a study room, co-working spaces, and ultra-modern amenities within the property.
Some of the main points a homebuyer would prefer are:
- Prefer Ready-To Move-in Property – The real estate club is getting back to business and the construction activities have started and things are getting back to normal slowly and steadily. So, more investors or let’s say genuine homebuyers who wish to settle would prefer Ready to move-in properties over under-construction properties to eliminate the biggest risk of project delay.
- Locality – A great neighborhood is all that is expected from each and every buyer. The locality should now be included as an important amenity which includes schools, grocery stores, medical, restaurants, etc. Most people like to live in places where everything is convenient. If you have to travel a great distance to get anything, it’s not the perfect locality for you.
- Avoiding crowded areas – Nowadays, people love to stay in quiet places, where they are away from the crowd but near to Mother Nature. Areas that are crowded will not be the preferred location among prospective homebuyers. The demand for townships in urban hubs, offering a much better quality of life will be more prevalent. Developers are already offering facilities such as grocery stores, laundry, gym, etc. within the complex, and some of the developers are building schools and hospitals in the township itself.
- Good Amenities – Nowadays, Amenities has become a compulsion for developers to give. As it has become one of the main attractions for homebuyers. It has been a competition between the developers on who is providing better and more amenities. Amenities have become the next important thing while buying a house. Because after work and house, amenities is something where the family would love to spend time with their loved ones.
- Security – Security is one of the main and primary aspects when a buyer is looking for a house. Security in terms of the surroundings, people, and of course the society itself where their children can play and roam around without any fear, even in the middle of the night.
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