Planning to buy a home in 2023?
Going through real estate trends will make you aware of what type of properties you should look for. And moreover, these real estate trends help you in finalizing optimal decisions.
From promoting properties through pamphlets, and advertising on TV & radio, to showcasing on digital media channels, and now embracing AR/VR technologies, the industry is witnessing major shifts over the past decades.
In this blog post, we’ve outlined a few emerging Indian real estate trends that homebuyers should watch for 2023. Check them out.
In this post-pandemic age, the scope for vacation-based properties is increasing. Permanent work-from-home or hybrid working models are stimulating buyers to invest in a second home proximity to vacation spots.
COVID-19 has made people look for homes not too far from the city limit but should be an escape from the hassles and clamours within the city landscape. Vacation homes, also known as holiday homes, were common during 2021 & 22, and it’s still continuing in 2023 too.
Experts say that IT professionals, NRIs, and the younger generation are highly looking to invest in these types of vacation homes so as to enjoy working without giving room to ‘pandemic fevers’.
Also Read – What are the Various Types of Property Loans?
Luxury Premium Homes
Do you know? Boman Irani, president-elect of CREDAI National says, “People want to purchase bigger homes and there is no way it is going to change. Hence, developers are also making a conscious effort to cater to this demand.”
In 2023, there will be a significant demand for cozy premium apartments. Since the pandemic broke out, many organizations are continuing to embrace WFH, hybrid work cultures. To maintain the work-life balance, people are looking for vast, spacious homes, so as to set up a dedicated working area.
With that being said, realtors are affirming that home buyers are even ready to pay the budget to opt for a bigger home. In a study conducted by Anarock Group, 40% of respondents prefer to invest in a 3BHK apartment. As a buyer, you can opt for bigger spacious apartments which will have a huge demand in 2023.
These days, almost everyone is ‘health conscious’ and all are aware of nurturing plants in and around the home. Real estate builders have already started inscribing planet-friendly approaches, say, for example, growing plants, avoiding plastics, reusing water, and so on.
If you are a person so concerned about the environment, then 2023 can get you tons of housing options. You might have heard about ‘terrace gardening’, many builders are launching new opportunities for mothers to cultivate their own garden.
Homeownership real estate properties will have an incredible rise in 2023. It is a dream for all to own a home. Are you the one dreaming about your home but ‘financial condition’ hinder you from purchasing your dream home?
Leave your worries. Home-ownership properties are exclusively for buyers like you. Here, you buy a home, you have to pay rent to your home from anywhere between several months to years. In this intermediate time, you will not be the owner. Instead of paying the down payment, you can get into the home and pay the rent.
Digital Home Purchase Model
Real estate has gone through massive transformations in today’s digital age. This digital real estate model will continue in 2023 and beyond. Whether you are looking to buy or sell a home, it’s a cakewalk process.
Sell/Rent Your Home
- Look for a real estate agency marketplace website
- Produce the images, rent/price information, number of rooms, amenities, and other details
- Buyers/agents interested in your property will reach out to you
- Hand over the home-related documents in the virtual format to the buyer
Buy Your Home
- Look for a real estate agency online
- Fill in your preferences to buy a home – the agent will come up with the best offer that matches your expectations
- With AR/VR technology, you can take a virtual tour of the home
- If interested, you can submit your documents in the virtual format with e-signatures
And you’re done. Home selling/buying is a tedious process but with digital technology adoptions, the real estate industry makes the process simple and hassle-free.
Wrapping Up Our List of Real Estate Trends Home Buyers Should Know in 2023
Adding to the list, NRI investments will also be a major real estate trend rolling out in 2023. Due to various reasons such as inflation, economical conditions, and increased dollar value in other countries, more than all to retain a bond with the motherland, NRIs are showing interest in Indian real estate properties.
So, with these we conclude, 2023 shows positive signs for home buyers & investors to look out for highly demanding property types. Experience the joy of buying/investing in your dream home!