The Real Estate Market of India is quickly growing into the hands of Millenials, typically the generation born between the 1990 and 2000. This generation has exotic preferences when it comes to property decisions. Their influence is significantly high and we can’t look away from it.
With 47% share of working population in India, Millennials have their own culture and lifestyle. They have grown in the new millenium which is sprawling with technology and new age ideas. The impacts of the same are widely evident on the real estate choices they make which includes buying, selling and leasing properties across the country.
Let’s see what this age group expects from the property market and why the market needs to blend itself around them.
Easy Access Locations
Millenials like to keep it easy to travel to work and the pub, both at the same time. The reason why they choose locations that are in close vicinity of the urban recreational joints and modern workplaces. Basically, the new and developing suburbs and downtown city areas. This preference gives them the freedom to keep the work life and recreation together.
New townships being set up in modern cities offer integrated living with restaurants, gymnasiums, spas etc built inside the societal complex. This is welcomed by the millenials as they have grown up inside the culture that gives a lot of importance to connected lifestyle.
Belonging to the generation that has seen the digital technology bloom to its very peak, the millennials can’t do away with their gadgets. This is the primary reason why big tech ventures and real estate developers are bringing in new solutions for home automation and smart homes. These homes offer state-of-the-art technology to monitor, control and enjoy the home appliances without even touching a button.
Environment Conscious Decisions
Green homes and environmental construction solutions evoke a sense of social responsibility in everyone of us, while millennials are the first to catch up to it. There’s enough evidence of millennials taking up environmental healthy homes that pledge to create a healthier ecosystem for everyone. Green homes are among India’s latest lineage of modern properties to become a part of residential infrastructure.
Flexible Financing Options
The credit card generation is not shy at taking financial products to the property sector. In fact, they’re the biggest consumers of home loan products that fit in well with their salaries and counter the least amount of debt traps. Responding to the growing demand for flexible house loans, and other financing options for real estate, banks have rolled out a number of products that attract millennial customers.
In the end, we can say that the millennials are changing the way real estate used to function with newer trends, newer choices and more environmentally concerned approach towards property buying. This will reflect in the market growth and the kind of projects we see in the future. The progress is slow but steady and we believe that this new generational shift will catch up with the Indian markets as well.
The look, feel and value of your home is as much influenced by the exterior as by interior. If the interiors looks spacious and beautiful, you know that you’re living in a comfortable house, one that has a high property evaluation as well.
Having said this, making your house easy to live while making it beautiful to look is a whole different thing. Most people heavily invest on modern-day fittings and lose out on over-all comfort of the house. But you can stop this from happening with you.
It’s easy to make your house functional and aesthetic at the same time using some well planned decor. Being expert property advisors, we keep seeing new houses every other day and we know what decor offers better usability than others. So, here are some valuable tips for doing the same.
Declutter the house
To begin with, you must remove all the unrequired decor items from the house that are taking up space for no benefit at all. Remove any vases, sculptures, wall hangers or earthenware pots that you can live without, easily. The more spacious the house gets, the more freely you can move around without bumping into the decorations. You can sell the clutter at any of the C2C websites and make some extra cash for new decor.
Add more Tables
Adding a few more tables in each room that can act as extra sitting and shelving are a great idea. You can accommodate more items of convenience such as lamps, electronics, books, and any other houseware that you may use. You can go for multipurpose tables that resolve three things in one go, to increase their usability as well. A lot of modern looking designs are available in the market that can level up your home decor game.
Replace Your House Lighting
If you haven’t made energy-saving efforts so far, it’s about time you do. The newer technology that saves electricity bills and illuminates more than ordinary lighting is the new trend in the market. These lights help you make your house much more beautiful and provide extra features such as remote control and smart home assistance.
Introduce Folding Cabinets
You can empty a lot of space by introducing folding cabinets in the empty corners of your house. If you see a nook that is unoccupied while you have storage cupboards overflowing with belongings, you can get a folding cabinet that would squeeze into the empty nook and provide you the storage of two almirahs easily. These cabinets are available on all leading furniture merchant stores and can be custom crafted as well.
If you have a study table in your bedroom, you can let go of it and save space by using a folding cabinet that wraps up when not in use.
These smart home decor ideas can help you increase the luxury quotient of your house while keeping it spacious to live in. These options may cost a bit at once but they’re long term investments that would pay off when you decide to stage your house and in routine for added functionalities.
Contact Spacio for more such interesting property tips and guides. We help you with every real estate concern. Reach out to us at our official website.
The summer season has just begun and the heat is already relentless. This season, let’s something about it side by side making your home eco-friendly for the environment’s sake!
Eco-friendly homes help homeowners to save on various aspects of their energy and monetary spendings in the house. They are optimized for minimum energy wastage and run on natural resources.
The idea is very old but it still hasn’t made its way to a significant number homes in India. Being a property advisor company, we survey a large number of homes throughout the year and we hardly find a home that’s eco-friendly. So, here are a few tips how you can make your home a better place to live this summer and save on tormenting bills!
At the time when they were introduced, Solar Panels were so costly that it sounded like a big investment to get some installed at your house. But over the years, the price has fallen to below five thousand bucks for decent pair of solar panels that will generate enough electricity during the day that you can stay off grid during the night.
These can be easily bought online and are easy to install on the roof of your house. Try this out this summer! Estimated savings are 10 to 30% on your annual electricity bills, which is at least 5 times their actual cost!
Get a Green Roof
This subtle yet unique idea is all that you need to keep your house cool during the day. The green roof concept involves laying down a layer of soil on your house’s roof and grow some plants in it.
The idea requires a little bit of workout for a day but ensures long cool summers. You will need a layer of pond liner to insulate your roof, over which you can add several layers of gravel and soil. Once the layers are thick enough, you can plant some semi-grown herbs directly into it and water them regularly.
Once done, the plants will suck up all the heat from the roof and keep the innards of the house cool.
There’s no debate on the fact that air conditioning bills are going to go through the green roof when the peak season hits, so what will you do then?
You can cut down on AC-ing needs by improving the insulation of individual rooms of your house or the complete house itself. This can be done by blocking off every little corner that leaks air from your house and adding automatic door closers to all your house doors.
This will increase the cool-duration of your AC-ed rooms and demand for lesser AC-ing needs.
Get a Top Exhaust Fan
The inner atmosphere of the house can heat up if the air is not circulating at all. For this you can get a top exhaust fan which is fitted in a vent in your ceiling. This exhaust fan keeps on drawing out hot air from the house and allows cool air to flow inside the house.
This ventilation action actually makes the house breezy and you will feel less heat than in general. All you need is a regular exhaust fan fitted in one of the wide vents in the house. Smaller vents won’t be effective.
Having lived in a home for 5-10 years does call for a change in its appearances and about the same time, most people consider a renovation for adding a new charm to the house.
But be wary of what elements you wish to add to the house because at times, these elements may not be as openly welcomed by buyers if you plan to sell it any time soon.
In fact, certain things are best if they are avoided from being inculcated in your house due to the negative evaluation impact they bring along. We will mention a few things that skip your home renovation list in order to save the home’s value from dropping.
Homes that have too many personal touches often become poor selling options. Simply because it will be hard for the buyer to make sense with these things and they might contrast with their own personal preferences. Hence, it is advisable that if you’re getting the home a makeover, try to improvise in a generally acceptable manner rather than make the house describe your own story.
The home’s interiors are the best artistic playing grounds for many people where they like to get creative with vibrant colors. This may become a problem for the buyer because they would have to repaint the interiors and incur more costs than they are already paying. Therefore, it’s best to settle for subtle coloring schemes that elevate the home’s aesthetics in a modest way.
Just like overly creative colors, some people like to paint their walls with their art role models. It could be a beautiful way to express your love for the art but again, it adds an personal element to the house that the buyer may or may not be comfortable with. So, something like this must be avoided. Hanging paintings are totally cool in such regards.
Being tech savvy is a great quality until it is reflected via elaborate and unmovable installments in your house. Home theatre systems and TV trolleys have become an essential part of each house’s living area but there’s no need to add more to it. You’ll have to take it with you when you handover the house, so you can save some money by crossing off electronic cabinets from your renovation list.
DIY enthusiasts and home bread artists often try to take the highly skill demanding task of home renovation and end up doing uncompetitive patchwork. This will be a major put off for any home buyer if they see disfigured paint work or unprofessional home improvement done in the house. Which is why you should leave the task of renovation best to the professionals in the field.
Your home is your life’s investment and for no reason you should decrease its value for the coming years. While renovation is a great idea, avoiding the above mentioned things during renovation can help you gain the right amount for your property without sacrificing any of its value.
We are Spacio Realtors are dedicated to make your property affairs gainful and worth investing. Contact us for detailed advice on these matters.
Our homes are one of the biggest assets that we amass during our lifetimes and many a time we don’t know what their exact value is. While this is an important figure to unravel, it is interesting to know the number of factors it depends upon.
In India, there are lot of things that decide how much your home is going to cost. Getting to know the exact value can help you make monetary decisions such as real estate investment, selling a house or renting it out profitably.
We at Spacio have uncovered some simple yet unique facts that may affect the value of your home. Read ahead to know if your home has these things!
Homes that are close to a highly famous restaurant always have the tendency to sell out a little expensive than others. If your locality has a star-studded restaurant or a market destination that is particularly popular, you can evaluate your home in a higher price bracket.
Most Mumbai homes that are closer to international restaurants like Starbucks or Celini, usually have a higher evaluation. This may be linked to the area rate or not but the effect has been widely observed.
How many homes have checked out before finalizing on one? Did you check the bath fittings? Did you observe the color?
The color really matters! The quality of interior of the house acts as a key factor towards deciding the final cost of the house. Usually, houses with luxury colors inside the house turn out to be much more high-paying than with dull colors.
White is supposed to be a dull color and vibrant colors like red and blue actually add to the overall value of the house. So, if you old sanitary fittings, you may want to consider getting a new set before letting your house on rent or showing it to a broker.
Just like colors, artistic interiors add a lot to the beauty of the house and hence, to the value. It was found that cottage inspired houses with antique wooden doors and luxurious cutlery shelves attract a higher price point than others.
Other interior decorations such as wooden floors, chandeliers and decorated balconies add a touch of aesthetic to the house. You will often observe modern apartments developed by esteemed realtors have superfluous sense of decoration and artifacts that aren’t even required. This is because, beautiful looking homes yield a better price even at lowe covered area.
The last is an obvious factor but it is often ignored. Having a house closer or inside a city guarantees its chances of selling out at a high price. The more developed the city, the higher the gross value.
So if you’re thinking to make a hefty investment, always look for a home inside the city as it will experience a sharper growth in value and will turn out as a better investment than the outskirts.
Deciding to buy a home soon? You might want to read this article until the end!
Home buyers in India are faced with several hurdles that if not skipped in time can cause the home possession really messed up. If you are going to make your first real estate purchase, these are some points of note, you must bear in mind, to make the transfer as smooth as possible.
You should also take care of the fact that between the time of you making the payment and getting the house registered to your name, there are several laws that operate separately for you, the buyer, the seller and the lender. Hence, prerequisite knowledge is a must.
We feel this is a mentionable point as most of the home buying transactions in India involve some amount of loaned money. If your loan amount makes up 25% or more of the total property value, you must choose the loan scheme very carefully.
It is advisable to consult a property broker or a loan officer who can guide you through various loan products available in the market.
In India, about a significant majority chooses the wrong loan plan for them. In some cases, people settle for the initial low rate of interest and sometimes they take the loan for too long a tenure. All of these mistakes can land you in wastage of money in future and can make it hard for you to pay off the loan as you plan to.
This might feel like an obvious fact but it is egregiously important to inspect the house once before finalizing it. In many cases, people try to pace up the transfer process in order to discourage you from inspecting the house thoroughly.
This can leave you in discomfort later on. If there is a fault with house’s roof, electrical wiring or drainage, it will continue to haunt you for a long because these are hard-to-fix problems.
So, make sure you inspect the house thoroughly. You may hire an inspector as well, who will make it a lot easier for you to peacefully finalize on your favorite home.
This is a big woe that comes in the shape of merry news. Sometimes, loan lenders or financers give you a green flag for properties that are evaluated at a much higher price than your ITR depicts.
You are bound to rejoice this situation and quickly sign-up in haste. But stop right there. Don’t underestimate your budget just because you are getting a bigger amount sanctioned. Calculate your income capacity accurately and settle for the EMI amount that doesn’t get in the way of your income.
For many people, the teeny bit of realtor’s fees seems like the most avoidable thing in the world, but it may become a loss of lakhs of rupees.
If you are a new to home buying, the realtor is your best friend. Realty firms help you at several stages of the deal. You being the buying party can’t rely only on the seller’s agent.
No matter what, at the end of the day, the seller’s agent will act for his client’s profit, which is why having a consultant at your end will help you dodge any petty trick being played on you from the seller’s side. This happens a lot in the real world and you must prepare for it nicely.
How do you think your dream home will look like? Will it have a big lawn stretching across a mile filled with majestic water fountains and exotic flower-trails or will it be a smart house with automatic garage door and solar powered roof?
Howsoever it may look like, we want you to get in there as soon as possible and in this article, we will briefly guide you on successfully ending up in a home that comes with a promise of fulfillment and content with your life.
First of all, you need to design an imaginary blueprint of your dream home. What all things you’d like to have in it, what kind of view do you want from your window when you wake up in the morning and what place would you like to settle in. You can let your imagination run wild but do keep the expenses in mind.
Once you have a fair idea of what your dream home would look like, you need to come up with a figure that you are willing to spend on it.
This can be done in two ways, either you consult a realtor in your knowledge who would be able to estimate the total capital required for the investment or you could decide on a budget as per your spending capacity. Both the methods are safe to go with and will help you make an appropriate buying decision.
By now, you’d know that how much investment your dream home is going to take. So, the next step would be to arrange the funds. There are several ways by which you can plan for this. You can go for a home loan, sell off an asset or maybe save for it until you’re in a comfortable position to spend. It’ll always be wise to wait for this step to be accomplished. So that, later you’re not under or over budget.
Your previous discussion with a realtor or a real estate agent would have given you a ballpark of the capital investment for the two scenarios;
If you belong to the first category, you’ll need to meet an architect who’ll convert your idea into line-drawing. The steps that’ll follow after this will be automatic in their own accord.
If you belong to the second category, you’ll need to consult a suitable real estate agent who will get you all the important information regarding the availability and location of your dream home.
Once you get the green signal from the architect or the real estate agent, whichever may be the case, you’d be all ready to see your dream home take shape. From this point onwards, only your investment would be left. Once that’s done, you can say hello to a life full of content.
Connect with one of our experts. We look forward to helping you with your real estate needs.