Here’s What 64 Percent of Potential Homebuyers Want in Their Dream Homes

Homebuying trends today emphasize the evolving preferences of homebuyers, highlighting a demand for security, spaciousness, and prompt availability in their residential decisions.

The real estate landscape in India today denote a notable shift in the preferences of potential homebuyers. Various factors such as changing market dynamics, growing aspirational lifestyles, and the influence of various external elements have significantly impacted the way individuals approach property investments. This transformation is particularly evident as urban areas experience an influx of individuals from diverse social and economic backgrounds, thereby reshaping buyer preferences.

Increased Proclivity Towards Gated Communities

The recent shift in living priorities, heightened by the post-pandemic scenario, has played a pivotal role in reconfiguring India’s residential market. Gated communities have emerged as one of the key preferences, offering a secure and safe living environment, as well as exclusivity, that aligns with the changing needs of homebuyers.

According to our recent consumer survey, a substantial 64 percent of potential homebuyers expressed a clear preference for homes within gated communities. This statistic underscores the growing importance of security, community, and enhanced living standards in influencing the choices of discerning homebuyers.

Furthermore, these communities boast a diverse range of amenities, including but not limited to recreational spaces, fitness centres, and community events, creating an all-encompassing living experience. The appeal of such features has made gated communities particularly attractive to homebuyers looking for an elevated and holistic lifestyle. Meanwhile, investors find gated communities attractive as these residential projects frequently assure the possibility of increased returns on investment.

Today, gated communities have become the favoured choice among a wide range of demographic segments due to the numerous benefits associated. For example, senior citizens are drawn to such developments for the sense of community, security, and convenience they provide. On the other hand, nuclear families value the thoughtfully designed layouts, expansive open spaces, and recreational amenities offered by these projects. Thus, the adaptability to diverse lifestyles and preferences makes gated communities a versatile housing option for homebuyers.

Other Key Features Prominent on Homebuyers Wishlist

The emphasis on secure residential areas goes beyond physical boundaries, especially as the prevalence of remote work has increased the desire for more spacious living spaces.

In 2023, there was a sixfold surge in high-intent search queries for 3+BHK apartments, underscoring the growing interest in larger and more expansive residences.

The findings from our recent consumer sentiment survey support this pattern, indicating a growing preference for moving towards more spacious living environments. Survey participants highlighted the need for a designated home office, recreational spaces, and private outdoor areas as significant factors influencing their decision when selecting a place to live.

Another notable trend post-pandemic is the heightened preference for Ready-to-Move-In (RTMI) properties. As offices gradually reopen, there has been a substantial rise in the demand for properties that are ready for immediate occupancy.

As per our recent consumer survey, an impressive 80 percent of potential homebuyers actively seek RTMI properties, indicating a strong inclination towards swift and hassle-free relocation.

One major benefit of RTMI properties is that they generally feature fully established infrastructure and amenities, granting residents instant access to vital services and facilities. This eradicates the stress and unpredictability linked to awaiting project completion. Additionally, it spares buyers the expenses and inconveniences associated with renting temporary accommodations.

Summing Up

Hence, the aforementioned evolving preferences are set to significantly influence the real estate landscape in 2024. Gated communities, larger residential configurations, and ready-to-move-in properties are not only anticipated to be in high demand but are also expected to command a premium associated with the choice. The convergence of these trends highlights the changing priorities of homebuyers, emphasizing a desire for security, spaciousness, and immediate accessibility in their residential choices.

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