Buying a property is an experience. Whether the experience is positive or negative could be a resultant factor of how the buyer approached the process of buying a property. The process of buying a property does not always lead to buying a property! While some achieve their dreams or expectations, for others the hunt never ends or they give it up in pure frustration of unmatched requirements.
Some people get their desired property and some people see so many options that their hunt for a property never ends. The basic difference is in the approach.
Many a times, a property is purchased without considering the basic factors. We as a real estate advisory service concentrate on the right approach. People never really address the elements involved in buying a property. The key question as to “Why does one need the property at all?” is often ignored .There are several other important elements like price, location and income of a person which plays a major role in determining the reason.
Let’s say a person wants to buy a 3bhk flat in a complex and his budget is Rs. 75 Lacs and it so happens that he is getting a 2bhk flat in a lesser price in the same desired location. Here the reason plays a big role. He has to let go of the 2bhk because he needs a bigger house.
So similarly one person has to rate the most important element while buying a property.
While people are stuck between different brokers and agents they are really missing out on a lot of detailed research which we as real estate advisors take care of. We want to understand the buyers need first and start working on it.
It is imperative to understand why a person wants to buy a property and give him something according to his requirement, which local agents completely fail to do.
Unorganised Brokers/ Agents will cater to your property need, but thinking about themselves first, but WE make the customers our priority and keep them first. We provide you with what is best for you from the large variety of housing options we have in our online store.
Now let’s discuss the reasons involved behind buying a property
- There are two important reasons to buy a property:
- The various reasons (not exhaustive) determining self-consumption are as follows –
- Owning your own property – Leading to a financial stability and / or a Pride of ownership.
Owning a house gives you a feeling of belonging in that neighborhood and gives you the sense of putting down roots and getting established. There are also many neighborhood groups that you can become involved in, and if you have children it may be of benefit for schools and friends.
One of the biggest reasons people buy properties is the pride of saying they own something. Even if it is a little starter home or apartment style condo, it is yours and you can do with it as you please, and for that, a person should be proud, as ownership is an accomplishment.
- Privacy of Family/ work – Breaking out from the existing family system/ or business structure
If you own your own house, you don’t ever have to worry about the owners checking up on you, since you are the owner. You will gain much more independence and privacy when you have your own property.
- Expansion of family/ Business/ Marriage of children/ or getting married
Sometimes it so happens that a couple gets married and the family expands when they have children. Especially when the children grow up, it necessitates the man of the house to buy a new property in order to accommodate new family member along with the existing ones.
- To be closer to your relatives/ friends/ peers/ more suitable business location
Very Often it happens that after working in Abroad/ some other city for years you want to come back to your home country/ city and settle down with your family and you start looking for a property. Since you have been accustomed to the foreign standard of living , you start looking for a well-planned location , gated community, security, and all modern lifestyle amenities and simultaneously since you’ve been deprived of the love and affection of your near and dear ones you look for a property in such a location which keeps you closer to your friends, family and relatives.
- Easy access to office, school or hospital and others
For an instance A person may buy a property for his retired parents; so the location of the flat has to be in an area which has a very short and easy access to medicine shops, hospitals, grocery store. It has to be in a safe environment and transportation issues should not be a problem in the night. Hence , it is a very important to buy a property that is easily accessible to the hospitals, schools, colleges or office
- Better Vaastu or Layout:Your surroundings can have a huge impact on your life to the point of affecting your personal happiness, your prosperity, even the opportunities that come to you in your life thus making your choice of home a very important one. That is why careful consideration is called for if you are thinking about purchasing a home. A person may be influenced or advised to change a house because of incorrect vastu layout and may require to buy a new property which is vastu approved as vastu if believed in, has direct connection with good luck and prosperity.
You are free to do what you want in your own home, You have the freedom to express yourself and your personal tastes and change the house to suit your needs. You can hang as many pictures as you want and do renovations as you please.
The reasons for buying a home or an office space for end use, could be anything under the sky depending on the various situations and circumstances life brings to us. However while making that choice it is important that we give that reason prime importance in determining the right choice.
- What kind of investment is one planning
- Recurring – if one is planning for a regular return; a property that will fetch a good amount in the form of rent is the first point of consideration.
- Short term – To be profited from within 3 years; a property located in an area which is about to show an escalation due to its development in the last few years
- Long term – when a person is ready to buy and wait for 3 years or more for his ROI; then investing a small amount in an area which seems to be the next target or shows promise for growth and development.
- The triggers to initiate investment in real estate may include the following:
- Commercial purposes
- Additional source of income – renting it out
- Low rates of interest
- Long term returns
Finding “why a customer actually needs a property?” is one of the major roles played by a real estate advisor in the market. Helping the buyers buy the right property at the right time and at the right price is an objective of our company. Many times it so happens that for people price becomes the index of quality, but sometimes price becomes secondary and need becomes the primary reason to buy a property.
The point is about studying consumer behavioral patterns and act accordingly. Till many years real estate market has been completely ruled by the unorganized brokers/agents in India. These brokers have just been addressing the need of the person, taking advantage of that need in terms of charging exorbitant price from the customers and by manipulating customers, showing them threats of high demand and low supply. People trust these brokers to save their time and money but little do they know that ultimately they end up paying so much more for something which is not even worth it.
For an instance- when a customer approaches a broker for a property X and property Y. Even though Property Y suits the customer’s need and is available at a comparatively reasonable rate than property X, The broker will sell property X to the customer telling him how property X has been approached by many buyers and if they don’t book it in a day the property can go to another customer’s hand.
These instances only happen because customers are unaware and ignorant when it comes to property, they are not given complete information by the brokers they deal with and thus are misguided.
We as a real estate advisory service study the need of the customer and act as a customer friendly company. Buying a property is like buying a dream, it is an investment which most of the people can only do once in their lifetime. People invest their time, emotions and most importantly money in buying a property, the least we as a company can do is help them find their dream property.