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.

Comments

What is Customer Obsession ?

Customer Obsession is a business philosophy and strategy where the company places the needs, desires, and satisfaction of customers at the absolute core of its decision-making processes. Rather than merely focusing on customer satisfaction or service, customer-obsessed organizations consistently go above and beyond to understand and anticipate their customers' needs, ensuring that every aspect of the business is aligned to deliver exceptional customer experiences. Key Elements of Customer Obsession: Deep Customer Understanding : Customer-obsessed companies prioritize gaining a deep understanding of their customers’ preferences, pain points, and behaviors. This insight often comes from continuous data collection, feedback loops, and engagement with customers to ensure products and services evolve with customer needs. Customer-Centric Decision Making : In a customer-obsessed organization, all decisions—whether related to product development, marketing, or operations—are driven by ho...

Amoeba OS

Amoeba OS( Organizational Structure) Many Startups, small and midsize companies who have founder as its driving force are battling a problem called organizational Structure (OS) and system within the company. One can never be sure that what is more important? OS and system or founders way of doing things. Both have their own limitations. Whenever I am confused about anything about life or business I make it a point to find answer through life itself, the very nature we are the part of has solutions for everything,that is because nature has gone through billions of years of evolutionary process finding most effective and effortless way of reaching the evolutionary pinnacle. When I first came to know about amoeba I was fascinated by its ingestion technique i.e the way it grabs the food. Whenever any food particle comes anywhere near amoeba that part of its body becomes its mouth & it engulfs it. By the way Amoeba was the first unicellular organism that performe...

office culture or pseudo family.

office culture or pseudo family. Pic: Google campus floor, feeling at home. Home is what humans love. Companies know it. Many a times you hear a CEO or Chairmen of a tech company say we are one big large family. They go for retreats,play ,party, click photos hugging and kissing each other. Then once this large happy family comes back to office and are busy in their routine where this family feeling disappears and certain under current of supremacy ,promotion, appreciation seeking, better pay, faster rise in the ranks, lesser real family time,and finally shifting job for better pay, designation and better family.(Pseudo Family) Massive researches are done on making company culture, huge budgets are spent for it, lot of incentives are showered but still there is no equilibrium in the HR.Why so? Because it is HR- Human resource, and if you and your board look at humans as resource then how can they be family? this is a biggest CON of the Corporate...

Advett Dixit - Real Estate Marketing,sales and technology.

Search This Blog