What are buyers looking for in a home?
The housing trends change over time. Similarly, buyers’ preferences change over time. If you are looking to put up a house for sale, then you have to open your eyes to the changing priorities of potential buyer and provide them accordingly. However, you must keep in mind your target consumer and the fact that priorities of a buyer changes across the segments.
Here are the top priorities of the new home buyer.
Price Factor
For a potential home buyer, price is always the most important factor. As the housing market has seen unprecedented appreciation in India over the last decade, young families are compelled to constrain their budget in most of the big cities. Consequently, demand for 1 BHK has been high in cities like Mumbai and Delhi. Some metros have the trend where buyers are satisfied with low floor space area. Mumbai is a classic example. On the other hand, cities like Bangalore traditionally offer more space areas and people also prefer bigger houses. To offer maximum spaces inside the house, built-in closet organisation can be used in rooms.
Low utility cost homes
The new buyer is concerned with how to minimize the utility costs, i.e. water bills, electricity bills, etc. This is an age of rising prices and the inflated economy makes it necessary for the average home buyer to consider minimizing the utility costs. Energy efficiency comes only after price and location for most buyers while deciding upon a house. Green homes are in demand and more and more people are opting for it, creating a niche for the product.
Design the house in ways that natural air is circulated through the windows and proper ventilation is ensured, bringing down the load on air conditioners. Solar heater, LED and CFL lighting fixtures are some of the common energy efficient means. Features like heat recovery ventilators, ground source heat pumps, tank less water heaters and solar panels are what the new age home buyers are looking for.
Smart homes
In case of a new apartment, make sure that you provide the flat with updated appliances so as to render a good feeling in the consumer. New gadgets and technology offer intelligent living experience to buyers. Innovative features like digital locks, electronic surveillance systems, temperature control, wireless communication for Internet, in-house entertainment, etc are installed in a modern home to offer the resident unique living space. Systems with sensors are being used for controlling light, ambiance and temperature. Smart homes are the manifestations of artificial intelligence in the realty scene; with the home adjusting itself to suit the individual’s needs.
Bedroom and bathroom decor
Bathrooms and bedrooms are emphasised by most of the buyers. Any buyer looking for a world class living experience would want features like whirlpool tubs, separate shower enclosures, multiple shower-heads, generous linen closets, dressing areas, and double sinks in their bathrooms.
Bedroom decoration is again a pivotal aspect while buying a house. The buyers will be looking for newly painted walls and new looking floors. The walls should be newly painted with gloss or semi gloss. The floors should be cleaned afresh to give a new shine.
A master bedroom with a connected bathroom is certain to attract the home buyer’s attention. A buyer is always concerned with how to take care of the house, how to cut down on the maintenance charges, etc. They will always be interested to know if they can clean the house easily, if they can maintain the interiors with minimal cost associated.
Flooring, paneling and spacing have to come at the top. With carpeting becoming less popular, ceramic tiles and wooden floors are being preferred by most of the buyers. Among colours, white is still the most common appliance colour. When we talk of high end finishes of appliances, stainless steel appliances are very popular among buyers.
Specialty rooms
The new age nuclear family would like to have enough space to gather, to chat, to watch TV, to sit and relax. The living room is fast fading away as a convention of the past and buyers are more attracted towards having a media room or a fitness room as part of their abode.
Additional feature
Depending upon the buyer’s segment, there may be demand for additional features. For example, an executive may prefer an office room in the home which would give you more space to work from home. Similarly, demands of a pooja room may also be pivotal as many Indian families prefer to have one in their home.
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