Major Change in Trends The Way Families Buy Homes

members we all know, earlier real estate was a male-dominated society where any property buying decision was made solely by the males. But, years after i.e. today the trend have completely changed. Nowadays, in the modern world, families now place as much importance and collectively makes upon the decision of buying a home.

The needs of women, children and senior members of the family are taken well into consideration and then, the final decision is made. If you own an apartment, along with that you also get the independence and security that gives an unparalleled feeling. However, the decision to purchase a home isn’t easy and needs a lot of effort. Thus, it is not straightforward to evaluate a good place to live.

It cannot be decided on one single factor and hence, there are various socio-cultural and economic processes associated with a property purchase.

Out of all, the family influence is undoubtedly the strongest and the most important. Back in the days in India, there was a time when only the male members of the family were the income earners. And, that give those all the rights to make big financial decisions, like buying a property, were made by the male head of the family. Moreover, such decisions were invariably accepted and respected by other family members without any arguments.

But, in the current times, the scenario has completely changed. As today, the female member of the family is earning equally, they do participate in every decision. A massive number of households in urban India now have dual incomes and women have become important decision-makers in the family. Beyond doubt, when the issue is as important as to buy property for sale. Women, today walk shoulder to shoulder towards men and exert equal rights to an opinion, regardless of whether they hold jobs or are housewives.

Let’s Understand Better The Factors That Influence The Property Buying Decisions

Stronger Focus On Children’s Needs While Purchasing Homes

Today, the needs and wishes of children are touching the sky and every parent look forward to fulfilling them. Thus, the preferences of adult family members are no longer the sole focal point, while purchasing a house. Nowadays, the needs of children are equally important and also considered, while buying a new property.

The Indian parents are looking towards a house that establishes a safe, supportive and conducive environment for their kids. According to their budget, most Indian families prefer bigger homes within the gated community. While searching for that right place, they also want to ensure that the property they buy has abundant ventilation and light.

To facilitate the children’s health, growth and all-round well-being, parents want to choose the best in the available budget. Not only this but the same is required for the safety and welfare of the seniors of the family. The decision-makers seek the opinion of every member of the family before finalizing the deal.

Family Profile – Going From Joint To Nuclear

The change in the family profiles from joint to nuclear families has changed the preference of buying a residential project. In the traditional Indian joint family setup, many people lived in the same house with their individual families.

This radical change of nuclear facilities has become a norm rather than an exception. We can classify a nuclear family as with the couple and their children that need lesser space than a joint family. The needs wants and desires of a joint family are totally different from the nuclear one. Therefore, the property buying decisions of a nuclear family, are different from those of a joint family, both, in terms of the people who make the decisions and the choices that are made.

What Nuclear Families Look For, While Searching For A Property

Apartments

The smaller the family, the smaller is the requirement of apartment size. An outsized property can incur high maintenance and extra cost. Contemporary Indian nuclear families prefer homes that are compact and yet, space-efficient. So, apartments for sale and flats are a natural choice.

But, the consideration of some vital factors is important and much needed. Out of all, the choice of locations is the most significant, when one opts for flats rather than standalone properties. It is always recommended to choose a good location with easy accessibility and seamless connectivity, which can appraise the property value more than the expectations. 

Proximity/Accessibility To Workplace, Schools, Healthcare And Shopping

Nuclear families prefer to have homes near to social infrastructures because as there is a lack of manpower. To reduce that extra time and effort, the family will choose a home that is located within proximity to the workplace, school, hospitals and even shopping. Closeness to their children’s schools is also important for reasons of safety and convenience.  

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So, with this, the homes where the immediate neighbourhood is already well-established or have planned with expanding facilities are always more in demand. 

Possibility To Upgrade

While purchasing a property, every family look at the prospects and tend to consider the possibility of upgrading to a larger home at a better location in the future. As they improve financially, they would like to move for a better quality of living. Thus, families may shy away from properties or locations that do not offer enough scope on the resale market, to facilitate such upgrading.

Good Neighbourhood For Children

Children’s well being is the greatest concern of every parent than ever before. Therefore, while buying property, it is good to check the availability of parks and playgrounds within the housing complex. A great and happening neighbourhood can make your children grow at a faster pace. 

See Also: Life Mission Kerala: Housing Scheme Eligibility, Beneficiaries And How To Apply?