Today, home buyers are taking their own decisions when it comes to choosing their home. They know what they want, what are they looking for, and they decide their budget for their dream home, even if it requires to add an extra effort for finding a suitable home, they do it and achieve it successfully. Budget is also not considered as a big criteria nowadays, as you have financial institutions who offer you bank loans at reasonable interest rate, apart from that you have various schemes offered by the bank as well as the developers that helps them to take the right decision.
What does home buyer look for when they plan to buy a home:
- Location
- Availability of basic infrastructure
- Budget
Which is the better choice? Affordable home or a Quality life?
In recent times, the home buyers do not think about the budget, for him the location and existence of infrastructure are important. But, mostly it is difficult to achieve the perfect home, where an affordable home also offers quality of life. In such case, what will be your choice: Affordable home or quality of life?
As per one of the report, properties priced up to Rs. 20 lakh are receiving only lukewarm response and the demand is reduced across cities. This means that home buyers are now moving from lower priced properties and are getting attracted towards properties that are in the vicinity of developed infrastructure and good connectivity.
Commenting on the situation, Ms. Surabhi Arora, Associate Director of Colliers International said that most of the properties that are priced at Rs. 20 lakh and below, are mostly located at the outskirts and the peripheral areas of the city. Previously, such properties were gaining a good response due to the affordable pricing, but today the buyers are realized that staying in such areas mean compromising on basic necessities, like connectivity and infrastructure. Hence, home buyers prefer to extend their budget a little more to enable them to buy a home that is in close proximity to their workplace and of course the city Centre.
Thus, as per the analysts, it is not enough to build an affordable home, it is also necessary to build it in close proximity to infrastructure and connectivity. They believe that infrastructure should be promoted and developed where affordable housing is coming up, so that such homes are promoted in true sense.