Demand for Affordable & Mid-Budget Homes Expected to Rise Post Lockdown

Demand for Affordable & Mid-Budget Homes Expected to Rise Post Lockdown

Change in the buying pattern

The COVID 19 pandemic has slowed down the entire economy and transformed the mind-sets of the people. Post Lockdown period is going to face a paradigm shift in home buying patterns. Considering the ‘new normal’, families will focus more on healthcare and education. Saving and cost efficient buying will be a habit. Considering this, affordable and mid budget housing segment is the future of real estate.

Why affordable housing

During the past few years, affordable housing was picking up momentum. But post pandemic it will be the first choice of most of the customers. Reasons for this are multi-fold. During these challenging times and amidst job insecurity and salary cuts, many families have used their savings for day to day needs. Their purchasing power and consequently the home buying budget is reduced considerably. So an affordable home with modern amenities seems a viable option.

Complete value for money

COVID 19 has been tough on economy including the real estate sector. Obviously, the builders are ready to negotiate and you might get that dream home of yours at an unbelievably attractive price. If it is a ready possession home you can rent it and earn rental income. As the situation improves, the price of your home is sure to appreciate. You will gain both short term as well as long term benefits.

Work from home and physical distancing

As we all know, work from home is here to stay. You will need to allot space for office or work station. A home with larger space will be given preference. Airy, well-lit home with thoughtful planning and smart layout will be chosen.

People are following social distancing norms. Areas with lesser population density will be the next investment hotspots. People will choose spacious homes at their preferred location at the outskirts of the cities, at affordable price. Pyramid, a trusted name in Pune’s real estate, has excellent 1 and 2 BHK mid budget homes at well-connected locations. Get in touch for details.

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