The coronavirus has created a huge impact on the home buying behaviour and consumer expectations too.As the nation,when the lockdown was announced and social distancing became mandatory, homebuyers became pessimists. However, manyhomebuyers plannedand bought a home with a reduced budget or delay during the lockdown.

Besides the buying decision, buyers’ expectations concerning buying a home have changed a lot after the pandemic. Now, ready-to-move-in homes are in demand. And most importantly, September-November property registrations up 36% in Maharashtra because of stamp duty cut. Maharashtra registration department officials said though the post-pandemic period had registered a dip in registration, the performance of the real estate sector improved after the state announced the reduction of stamp duty for a limited period in August.

A registration department official said 1.9 lakh documents were registered in September last year. The number rose to 2.47 lakh in September 2020. Similarly, the number of registrations rose to 2.73 lakh this October from 1.93 documents registered in October last year. The first 13 days of November last year saw 88,000 registrations. The number was 1.21 lakh during the first 13 days of November 2020.

After the lockdown was imposed, the sale of houses was recorded its lowest ever in April – only 778 houses were sold from which state made only Rs 3.11 crore revenue from stamp duty charges. Usually, in April, thousands of houses are sold. However, as the sale of houses did not reach even a thousand was worrisome for the real estate industry. However, from September-October, the market once again bounced back gradually and in October during Dussehra, 7,929 houses were sold wherein the state made Rs 232 crore revenue. As compared to October, the first 15 days of November saw a record sale of houses.

During the unlock period from September, the registration has increased. The state announced the reduction in stamp duty till March 31, 2021. In the current scenario, intelligent buyers will not waste time and will book projects immediately. The advantage of a stamp duty waiver will not be in place six months down the line. The costs are bound to increase after six months, as the labour and material expenses will increase.

Let’s read more to learn what kind of homes is preferred post-COVID and how the pandemic has impacted buyer behaviour.

Expectations Have Been Changed About The Future

Living in densely populated areas has lost its appeal post-pandemic. A majority of buyers consider investing in a less populous area. The desire for privacy, space, and control over allowing and restricting the visitors in one’s home is becoming stronger now.

Buyers consider single-family homes a more flexible type of living arrangement. You can live the way you want and enjoy the outdoor space freely with your family. If you are investing in a property post-pandemic, consider these points:

• Determine how long you are going to stay in your new home. If it is less than five years, invest in a property where you can build value.
• Determine your budget.
• Find a place that meets your needs and budget.
• Finding the right neighbourhood and locality is also getting more importance post-pandemic.
• Make sure of your financing, whether you are going to use your savings or take a loan.

Streamlining TheWork From Home Option

During Lockdown, the majority of the workforce has been forced to work from home. Most companies have asked their employees to work from home to survive their business while being able to comply with the social distancing and self-quarantine measures to contain the spread of infection. Due to this, people have made a few changes in their homes to accommodate this new normal.

Buyer’s Expectations Have Been Changed

The pandemic has contained us in a particular zone. People have been at home for almost seven months to follow social-distancing norms and infection control measures to contain the spread of the virus. People who are staying in an independent home or home without in-house or nearby amenities might have missed a lot of recreation activities like a walk around the garden, playing with kids in the park, meditation, workouts, and more. In contrast, people who are staying in the apartments might have enjoyed all these activities even during the pandemic and lockdown. Therefore, after the pandemic, buyers might want to buy a home in an apartment that is affordable, easy to maintain, and close proximity to a lot of facilities.

Buying a home in an apartment has a lot of benefits, including:

• . Location – Apartments are usually located in closer proximity to the city center, restaurants, bus stations, shopping complexes, divine places, etc.
• . Well-Maintained Space – Apartments offer in-house maintenance and hospitality services, helping buyers enjoy clean and well-maintained space.
• . 24/7 Security – Safety becomes a major priority, so buyers might prefer an apartment-type house that offers 24/7 security.
• . Kids’ Safety – Kids can play within the community that features a garden and play area. They can be safe while playing.

Buyers May Expect These Features In Apartments Post-Pandemic:

• Balconies
• Workout zones
• Garages
• Terraces
• Rooftop gardens/greenery location

Buyers May Expect To Invest In Localities That Contain:

• Lower pollution levels
• Lower population density
• High upkeep standards
• Open spaces
• Close-by medical facilities

Wrapping Up

People’s lifestyle has changed a lot during the coronavirus pandemic. Due to the restrictions imposed, they are staying in their home most of the time in a day. To accommodate this new normal, they will look for homes in apartments that feature an open and pollution-free space to relax and rejuvenate.Looking for apartments that have all these amenities in Neral? Take advantage of reduced stamp duty charges and buy a home to live your life peacefully. Contact us for more details and visit our website @ www.fortuneinfradevelopers.com or call us on +91- 9594900010. Stay tuned for latest news and blogs!