Factors You Should Consider Before Investing In Real Estate Property Post-COVID-19
One pandemic and everything has come to a standstill. Every single business has been hit hard right from being it sales or production. Of all the industries that have seen a setback, one of them is the real estate industry. With people staying indoors for months and not stepping out due to fear of falling ill, the real estate industry is seeing a decline in sales and a surge in unfinished projects. Currently, there are so many unfinished projects around the city that aren’t proceeding further due to the unavailability of resources. With this pandemic as a reason, there’s more cost adding up to the construction materials due to the lesser availability of workforce to transport them to the construction site. Given a situation like this, a common man who often thinks of owning a house or in a real estate property is shying away from doing so due to the fear of a surge in prices.
What is it that is stopping investors from having the best property investment? Why are buyers stepping back from buying homes? Will their dreams come true? To answer this, we have a lot of factors to consider. Life post-COVID-19 is definitely not going to be easy. But all that one can do is have hope and take enough precautions to stay fit and fine. Talking about the various factors you should consider before investing in real estate property post-COVID 19 here are some of them to prep you up. These seven points explain what buyers will expect before buying a house post, COVID 19.
Investing in real estate property to make it the best property investment
The foremost thing that any buyer will consider after lockdown while investing in a real estate property is hygiene. Since health is going to be the prime factor, people will view only those real estate properties that are in less crowded areas and that have enough breeze. They will also seriously consider buying apartments that are next to lakes or clean ponds. Buyers will also expect that the locality they are going to buy is clean with neatly laid roads, good neighbourhoods and a locality that offers a proper garbage disposal system. Garbage is the most important reason for a virus spread and littering it everywhere can cause serious health issues.
Gone are the days of considering to buy smaller houses that fit in the budget. Buyers these days need spacious and ventilated apartments that will give provision to sunlight and air. Cross-ventilation has become extremely important to keep dust and dampness away that can contribute to a quicker spread of infections. Spacious apartments also mean that there are more places to have provisions for indoor plants and kitchen gardens that promote extensive green and eco-friendly lifestyles. A healthy lifestyle is when you eat naturally grown vegetables and fruits that are grown consciously and organically. Home farming has become a thing of the present, and so everyone is interested in doing it. So when a buyer is considering investing in real estate property post-COVID 19 they will look for ‘more space’.
Accessibility and amenities
Being in comfort is all that one wants, especially after a pandemic. Comfort here means being able to find all the necessities at reach. A person buying a real estate property after COVID 19 will want the apartment to be at the center of all needs that are required to lead a daily life. This can be groceries, clinic or medical assistance, food takeaways, and so on. In fact, a significant consideration would be to look out for townships that can house these amenities right inside the premises that will enable residents to stay within a stipulated space and not unnecessarily go out to shop for petty items. Townships will see huge demand as they are constructed considering various factors like being at the center of the city, availability of transport to all places and so on.
The best property investment is one that has a good maintenance team in it. Regular cleaning and maintenance are essential for a hygienic environment. Most apartments lack this and often let go of things like timely cleaning of water tanks, cleaning the parks, sanitizing the elevators and floors, changing the water in the pool (if any), and so on. Buyers worry that the after-effects of the pandemic can hamper the lifestyle and hence expect a maintenance team to be available to keep the place clean. It is also an expectation because, in spite of buying a house and becoming an owner of it, the apartment still expects all residents to pay a maintenance fee.
Only trusted buyers are in demand these days. Buyers are looking out for builders who can satisfy their needs and give them the best amenities while making sure they find the aesthetics too. It is not always about the facilities that are available. What is essential for most people is the design and construction style. This is possible only by the top builders in the industry. A credible builder is one who offers various features in a reasonable and best price that is affordable by buyers.
More of nature and greens
Buyers these days want places that are amidst greenery. We are short of trees and fresh air in our city, and it is the buyers’ choice that they find their new home that they are going to invest in to be in a green and environmentally friendly area. A nice view, cool breeze, greenery is all that one needs these days.
Residential spaces with a welfare association
A welfare association consists of a group of people who come together once in a while to discuss and take decisions for the welfare of the township, apartment or the community houses. With all the chaos that’s happening given the current situation, it is crucial to have someone to govern and make decisions to avoid havoc within the residents. Most of the buyers feel this helps keep harmony and unity among the people. And so post COVID 19, buyers will be expecting a housing space that has an association to help them take timely decisions and advancements for the apartments.
These are some of the significant points that buyers will consider before investing in a real estate property. They believe these to be the best property investment choices. This is more common in first-time buyers as they think the money invested as the utmost value.