According to a survey, the factors that people consider when buying a home have shifted.

The COVID wave has transformed how people perceive various industries, including real estate. The current focus on remote working has reinstated the importance of owning a home as a secure and essential investment. However, the preferences of prospective of people buying a home have changed significantly.

According to recent surveys, the factors influencing a home purchase decision have shifted in relative importance. Previously, proximity to schools and offices was critical to the decision-making process. However, due to the pandemic and the rise of remote work, lower-density environments, access to open green spaces, healthcare, and apartment size have become more important to prospective homebuyers. 

Table 1: Factors Influencing Home Purchase Decisions Before and After COVID-19

The COVID-19 pandemic has dramatically impacted our lifestyles, with working from home becoming the new norm. With this new reality, people who are buying a home seek more space to accommodate their professional needs. Homebuyers are now seeking homes with additional space that can be used as a working area or study room, depending on their needs.

As a result of the pandemic, the developer’s reputation has become a vital factor in home purchase decisions. Homebuyers are now more interested in purchasing properties from developers with an established track record. Buyers are willing to pay for projects by reputable developers that provide high-quality amenities, excellent construction quality, and timely delivery.

Furthermore, access to healthcare and open green spaces has become critical in home-buying decisions. Homebuyers now desire homes that offer ample green spaces and access to all the essential amenities within the housing community. In response to this, integrated townships are gaining popularity in Indian cities. Such townships provide robust infrastructure with an array of amenities to the residents. The pandemic has only amplified the need for well-designed projects offering a healthy living environment with all the essential amenities.

After COVID, a significant shift was observed in consumer behavior and preferences in the real estate industry. The work-from-home scenario and the need for safety, hygiene, and a clean living environment have become paramount for prospective homebuyers. This has encouraged buyers to look for homes in locations with access to open green spaces, lower-density environments, and affordable prices.

Table 2: Top Features Home Buyers are willing to pay more for

Pune’s real estate market is no exception to this trend. With its growing population, Pune has witnessed increased demand for affordable housing in peripheral areas that offer access to basic amenities and transportation links. Developers are now investing in developing residential projects in these areas, which are well-connected to the city’s business hubs and offer a high quality of life.

According to Gunjan Goel “Goel Ganga Developments, has been keeping up with these evolving trends and needs of homebuyers. The company’s projects are designed to provide customers with homes that offer modern amenities, ample green spaces, and a healthy living environment while being affordable.”  Goel Ganga Developments’ projects are located in areas that provide access to essential services such as schools, hospitals, and public transportation, providing residents with a well-rounded living experience.

In conclusion, the COVID-19 pandemic has significantly changed the real estate industry, shifting consumer preferences towards affordable housing in peripheral areas with access to green spaces and essential services. Real estate developers must adapt to these evolving trends and homebuyers’ needs. Goel Ganga Developments is leading the way in Pune by providing homes that meet these changing needs while contributing to a healthier and sustainable future.