COVID 19 has impacted homebuyers’ behaviour and consumer expectations to a huge extent. Prolonged lockdowns and social distancing to help contain the spread of the virus made consumers extremely pessimistic. We did not know how to function and how these restrictions would impact use.
When it comes to the real estate sector, data and research stated that potential homebuyers mostly put a hold on their decision of buying a house. But the post-pandemic market has witnessed a shift from the cautionary and sceptical behaviour that was widely prevalent in the past two years.
As we move deeper into the decade, the real estate market has shown resilience and perseverance. According to the recent market research trends, 84% of consumers are ready to buy a house. But the types of accommodations in demand have changed. People are more interested in ready-to-move-in properties in the post-pandemic era.
The concept of home is no longer limited to a space to retire for the night. With more and more offices opting for remote work, our homes have been transformed into a space where we live, work and socialise.
Hence when you are looking for a luxury flat in Adyar, expect to see some changes as developers continue to adapt residential projects to provide us with modern and luxurious living.
Read on to find out more about the expectations of homebuyers in the post-COVID era.
Changed expectations of the future
Homebuyers in the post-pandemic era no longer want to live in densely populated areas. The need for open space, privacy, and restriction of visitors have become stronger than ever. So families and homeowners are focused on choosing projects which provide them with such facilities. With a greater preference for single-family homes because of their flexible nature, luxury flats in Adyar are highly sought after.
You enjoy the freedom of living the way you want to, go out in nature with your family. So while investing in property during the post-pandemic era, make sure to consider a few points:
- Your duration of stay in your new home. If it is less than five years, real estate experts want you to invest in a property that builds its value with time.
- Your budget to buy a property
- A neighbourhood community that meets your needs and wants
- Plan for your finances and determine whether you need to apply for a home loan or your savings will suffice for the cost of the property.
Need for community and open spaces
2 BHK apartments in Adyar or 3 BHK apartments in Adyar with a clubhouse and community zone is no longer a fancy facility. As the pandemic, frequent lockdowns, and social distancing being enforced for more than two years, homebuyers are considering these amenities to be a must-have. To add to it, people are now more conscious about their physical and mental wellbeing. So residential complexes equipped with gyms, games rooms, libraries, yoga spaces, etc. are also in demand. Open spaces like parks and large fields for adults to walk around and relax, and for children to play have mostly become an indispensable part of most residential projects.
Sustainable projects and green culture
In tandem with the climate emergency and innumerable call-to-action, conscious homebuyers of today want to buy the ‘right home’ that is good for the environment. This means an increased focus on sustainability and eco-friendly homes. Prospective home buyers want homes that have been built sustainably from the construction phase. Small changes in living conditions such as EV charging ports, solar panels, elevators that reduce carbon footprints, carbon monoxide sensors are highly sought after as they have a huge influence in building the right home for conscious homebuyers.
Safety and security are the top priorities
Search for luxury flats in Adyar with facilities like air-purifiers, touchless entry systems, and elevator travel continue to grow. Homebuyers have realised that a safe and hygienic environment is an absolute necessity for the wellbeing of family members and loved ones. Hence, installation and such tools are gaining more popularity in most residential buildings and complexes.
Location
Although we have mentioned previously the need for open spaces when buying a house gaining popularity, the concept of location has much more to it. In the pre-COVID era, we travelled frequently to avail of various facilities and to maintain a social life. However, we now want a microcosm of all social facilities as well as other essential services. To fulfil these needs, a trend has emerged that provides easy access to healthcare services, retail, and even restaurants and cafes.
Hence, the real estate sectors have come up with all kinds of changes in the locational aspect of residential projects. While a percentage of homebuyers still prefer to live near cities, there has an emerging section of homebuyers who want to buy a house in the periphery of metro cities. The reason is easy access to the facilities of a city while enjoying the peace and quiet.
Bottom Line
The post-COVID period has altered our lives in a way that was beyond our imagination. From our daily lives, the way we work, socialize and live life, in general, has shifted. Similarly, the expectation of homebuyers in the post-pandemic era has also undergone a huge change. We hope that after reading this blog, you have been able to gain a clear insight into how the real estate sector has adapted itself to these changes. Developers are working tirelessly to meet up with these emerging trends by providing consumers with modern homes.
