Deciding to buy a house will perhaps be the most difficult decision for anyone in their life. The current situation has turned over the lives of several people and they will be facing a series of challenges. Pricing and job stability will be the main concern of people as we haven’t returned to normalcy. Several home buyers have dropped decisions and backed off as their expectations were not met by the house owners.
The onset of coronavirus has created a huge impact on the real estate market. As the governing bodies took several measures to contain the spread of the virus, most people are left to survive with their life savings. Now that the world is recovering from the aftermath of COVID-19, the real estate market is picking up its pace to gain its foothold in the economy.
Besides the strings of challenges faced by home buyers, what has changed their mindsets? As people have started to follow social distancing, we can assume that the concept of living in a densely populated place has definitely lost its appeal in the market. On the other hand, we clearly witness a rise in the sale of CMDA approved plots in Mannivakkam as a majority of people have started to prefer less populous areas.
How buyers expect their future to be:
As a majority of people living in metropolitan cities prefer the lifestyle of nuclear families, they are open to going with a more flexible type of living arrangement. In that case, most people prefer an apartment lifestyle as they need not have to worry about maintenance charges and enjoy several amenities at an affordable price.
For example, people can buy apartments in Adyar at a cheaper price compared to an individual house. As people are seriously considering their budget constraints recently, apartments will witness more traction. Moreover, people will prefer to choose a house closer to city limits with all the amenities and apartments will be the right choice.
The impact of work from home culture on the real estate market:
A majority of IT employees have started to work from their home and companies seem to have adapted to this culture as it helps them to save a lot. However, this culture has disrupted the real estate market, especially in the cities like Mumbai, Bangalore, and Chennai. Therefore, more people have started looking for ready to move in homes more actively in order to move forward in their lives.
Increase in demand for ready to move in homes:
As people have witnessed the drop in real estate market prices, several people have started to look for plots for sale in Mannivakkam Ram Nagar. Instead of spending rent, most people have opted to take home loans and own their dream house. As there are several options in the market, people won’t be having a problem with choosing a house to match their lifestyle and expectations.
In this post-COVID era, most people have started to opt for luxury and privacy. As they desire ample usable space in their homes and natural lighting, ready to move homes will be the perfect option. In the case of apartments, the residents will get unparalleled ventilation and sunlight throughout the day.
Well maintained space and easy to access locality:
As most people have started to work from home, living in an apartment located close to supermarkets and other essential shops has become a necessity. Earlier, people used to get the necessities on their way home from the office. Accessibility has become the primary priority for people working from home. Apartments in Adyar are ideally positioned close to supermarkets and shops to make things easier for its residents. Although there are several on-demand delivery services in the market, some people still opt to shop in brick and mortar shops.
Fully secured community:
Safety and privacy are the basic expectations of every home buyer. The apartment lifestyle will be perfect for them as their requirements can be easily met. As people have started to spend more time in their homes during this post-COVID era, the communities in apartments will be a perfect choice. Gated communities offer several benefits ranging from premium amenities to get along with like minded people. Apartment lifestyle will also be beneficial for elderly people as most apartments have separate walking lanes for its residents. Here are some of the additional amenities that you can expect in an apartment:
- Covered parking space
- Recreational zones
- Multiple entries and exit points
- Rooftop gardens
- Children’s park
Importance of owning a home close to the office:
Although work from home has become the new norm, a significant number of people are still going to the office. Owning a home closer to their workplace will continue to be one of their primary priorities. For instance, apartments in Adyar are situated ideally in the sweet spot close to several IT companies. By residing in a home close to their office, people can save time as they can skip peak hour traffic jams and manage other things easily.
Conclusion:
Stepping out of homes and getting along with friends has always been an integral part of our lives. But with the onset of COVID-19 and the absence of open space, outdoor activities have always been a hindrance for most people. As the restrictions are being lifted in public places, apartment lifestyles can be the perfect choice for people looking for open space to relax and rejuvenate close to their homes.
