What will change in home buying decision making?

Based on some observations and obvious assumption I have tried to write down some key points on decision of buying a home may be based on.

1. It will be based on buying a home for the family rather than an investment and ROI purpose. Everyone know that there won't be an immediate rise in property prices in general so,no one expects you sell that.

What one is more concern is the quality of product and financial feasibility.

2. The Carpet and Usable area needs may have changed as they experienced the difficulty in their current homes (rental or own) Increased kitchen size with small store room can be a new demand, more number of bathrooms rather then larger size of it, bigger seatouts liking living room,terrace etc. are few things that may attract.

3. Those "working from home " will think differently and will go for slightly different product whether it is increased size of the home or carved out office cum multifunction room.

4. With that willingness to compromise on location may be one trend that emerge,people may accept the fact that for bigger usable area but affordable cost they may have to move away from the dense and mature markets to more accessible but emerging areas in the city.

5. There also might be change in kind of common facilities that they will look for. Avoiding to stay in the denser and expensive location may also lead to more attention to clubhouse facilities and not name sake gym, sports court or other facilities will be considered on life scale and tokenism of these things may not be accepted.

6. Technology integration with good electricity backup, high speed internet, good common area wifi,co-working multifunction common areas in the residence apartment may be taken more seriously then those who don't have such areas.

These were some common points that come to my mind when i look at the changed scenario and future uncertainty.

Asking our potential clients and talking to them at length and making them talk more will give us more insight then any other survey or study.

Spend more time with them listen more don't assume things immediately.

Let the solutions come - don't hurry to conclude,but get busy in one to one interaction with your potential clients. Spend more time with each and everyone that comes to you.

That will be your " greatest insight forming tool" (GIFT)

Advit Dixit

Co- founder, Tribe Appsoft Pvt Ltd.

MD, CME Hitec Construction Ltd

Director,CREDAI Kolhapur

Member NASSCOM,ITAK.

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