Beyond bricks and walls, buying a property/home is deeply personal for homebuyers. For many the purchase of a house represents their aspirations, security, and a sense of belonging. Take Neha Shah, a doctor in Ghatkopar West, Mumbai for example. For her, buying a house was not just about upgrading her address but about practicality and emotional well-being.
“The new area I have moved to is closer to my clinic. Our old apartment did not have an elevator or temples nearby, which is important for my parents. Now, we are in a society that has all that, plus a gym. With my cousins living in the neighbourhood, it feels safe and homely,” she shares. Just like Shah, many homebuyers often purchase a new flat or house to improve their standard of living while factoring in many property motivators. This blend of practicality and emotional resonance is a recurring theme among today’s homebuyers.
According to the Hansa report by The Guardians Real Estate Advisory on ‘Understanding Consumer Needs For The Real Estate Sector’ 72 per cent of respondents prioritise upgrading to a bigger home and security for the family as key motivating factors to purchase a new house.
Many homebuyers’ decision stems from their changing family dynamics. Similar is the case of Purvi Shah Andheri West, Mumbai. As a mother of two pre-teens, Purvi took a leap to buy a new house for her kids. “As our kids were growing up, we needed separate rooms for them. They are both 11 and 13 now and are on different time schedules. Hence, the need for privacy became a must,” she says.
Aspirations For Luxury And More
For some, buying a new house is also about fulfilling dreams they have held onto for years. For example, Prakash Jain, a jeweller from Mutunga, wants to upgrade to a 3BHK in a high rise. His motivation? Jain wants more facilities not just a house with four walls.
“I currently live in a 2BHK and want to upgrade to a 3BHK. I want to move to a high-storey building with all the facilities of the health club, parking space, and swimming pool,” he states. For him staying in Matunga was non-negotiable, and the new apartment on the main road seemed like a perfect choice.
The Hansa report highlights that 62 per cent of homebuyers prefer 2BHK configurations and 46 per cent of buyers aim for homes priced up to Rs 1 crore. But a budget is not the only driving factor.
When Amisha Sanghavi from Ghatkopar East moved from a 3BHK to a 5BHK, her motivation was to accommodate both her parents and her growing son. “My parents need their space, and my 19-year-old son has his own schedule now. We wanted a guest bedroom for friends whenever they visit,” she states. The new apartment Snaghavi bought offers all of this with an added bonus of a stunning view, she shares in the report.
Traditional Motivators: For Indians, joint families are often associated with traditional living. The report notes that the expectations of joint families are evolving. When Praveen Thakur, a financial advisor in Thane decided to move his family to a 3BHK in a posh locality he wanted more facilities while taking his family along. “The new (he moved to) has everything - schools, a shopping mall, entertainment, groceries, and medical facilities 0 all within walking distance,” Thakur states.
Additionally, safety and convenience are other two driving factors for joint families, as older members look for familiarity, and proximity to temples, and gardens. Nuclear families on the other hand tend to lean more towards amenities like clubhouses and playgrounds for kids.
The Bigger Picture
The Hansa report also points towards many external factors that influence the purchasing decisions of homebuyers. These factors include the reputation of the builder, proximity to workplaces, and access to daily conveniences like grocery stores and salons weigh heavily on buyers’ minds.
Indians are also wary of Vaastu compliance and safety which marks up as additional considerations for them before a property purchase. However, at the heart of it, for Indian families buying a home is all about creating a space that meets both functional needs and their emotional aspirations. As the families evolve, so do their expectations of what a home should offer, a place where life feels just right.
The stories of these homebuyers show that while budgets and configurations matter, it is the people, their families, and dreams that truly drive the decisions to buy a home.
However, before picking your dream home, it is important to be mindful of certain factors that are crucial for property purchase.
Says Jayesh Rathod, Co-founder and director of The Guardian Real Estate Advisory, "Homebuyers should focus on critical steps like verifying a builder’s RERA registration, reviewing their track record, and collecting feedback from current residents before buying the property, safety assessments, understanding development prospects, and ensuring infrastructure readiness are equally important."
"Homebuyers should also compare costs, uncover hidden expenses, and thoroughly review all documentation with professional legal guidance," he adds.
