One must emphasise on the details of the property and also the kind of lifestyle one wants to live after moving in
Residential investment entails countless details that a buyer needs to consider, but the most significant aspect is to reflect how space will accommodate your family’s specific lifestyle. A new-age residence in the post-pandemic phase has to be transformed into a space that mirrors the lifestyle and personalities of its occupants. Ever since the outbreak, most residents have stayed in isolation in their shelters and hence have understood the significance of living in a personal space that conveniently fits in with your daily routines, hobbies, and expectations. The evolved present-day consumer might have altered priorities from now on regarding health, technology and socialization, hence may expect their personal spaces to be an extension of the same.
The below-mentioned lifestyle considerations will enable buyers to tick the right box that suits their way of living:
Considering how your everyday routine will work: The majority of the time that you spend in your house, you will be going about life normally, getting ready for work, cooking, or nurturing kids or pets. Hence the visualisations you have while you plan a home investment must be about how your average routine will function inside this particular space. It is important to maintain a realistic mindset and consider if space is in proximity to your work zones, healthcare centres, educational institutions, or any other areas that you frequently visit. A house can prove to be an exceptional bet in manifold ways, but if it’s not suitably positioned, it might not fit well into your prevailing lifestyle. Likewise, a residential space may be appealing, spacious, and at a worthy valuation, but if it does not have features that will contribute to the effortlessness of your everyday life, it might not be an appropriate overall fit for you and your loved ones.
Invest in a space that incorporates your hobbies: Taking into consideration day-to-day activities, it is equally important to think about the ways your hobbies will fit into a new house. Many hobbies will demand additional space, so consider investing in multi-purpose spaces that can be doubled up to suit your hobbies. For instance, if you love to paint, ensure your home has a dedicated space to match your interest. Maybe you might prefer to invest in homes with discrete spaces enabling you to articulate your hobby. Nevertheless, these are important facets that need to be deliberated upon and prioritized prior to home investment.
The need for functional spaces driving real estate investment: A post-pandemic lifestyle is calling for generous spaces, encouraging more elbow room that can facilitate in accommodating multiple functions. Homebuyers have been reflecting on the need for spaces with flexible floor plans, like a bedroom that can be seamlessly converted into a home office. Homeowners might want to opt for a house with two master suites, in case someone in the household needs to be quarantined or to accommodate an elderly member. A guestroom could also evolve into an in-demand feature to comfortably house family members for long time intervals. It could also double up as a workspace or as a safe quarantine zone. Similarly, rooms equipped with its own bathrooms, finished basements, dedicated home offices, decontamination zones or home gym will also draw much buyer attention.
The crux of home buying lies in determining the kind of lifestyle you desire: It is important for buyers to consider their ideal lifestyles, both today and a decade in the future, and use this as the foundation for choosing the amenities they would like in their homes. For example, a buyer who is into fitness must opt for residential offerings or areas having fitness centres in the vicinity or homes with an in-built wellness facility. Similarly, if you are a professional you will prefer investing in homes that can incorporate areas such as libraries or studies having video conferencing facilities.
Nature of the neighbourhood: Buyers must do a detailed check of the immediate neighbourhood community to understand if the surroundings befit their way of living. For instance, an elderly couple would like to stay in a quiet place that is surrounded by greener landscapes, or bachelors would prefer investing in bustling locations offering them with great leisure facilities.
To make the process simpler, emphasise equally on the details of the property you are evaluating and also the kind of lifestyle you and your family will be able to lead once you move into the space. Everything from your travel to your space for hobbies and closeness to loved ones can majorly influence your happiness.
The author is Managing Director, Transcon Developers
DISCLAIMER: Views expressed are the author’s own, and Outlook Money does not necessarily subscribe to them. Outlook Money shall not be responsible for any damage caused to any person/organisation directly or indirectly.