Weekend Homes Gaining Popularity Among Urban Buyers Post COVID-19

Kishan Thakkar K

Introduction

Who would not want to wake up with the chirping of the bird, surrounded by greenery, close to nature, safe and secured environment? Sitting on the balcony with a mug of coffee in hand, enjoying the scenery of the mountain or river!

A majority of Indian families have always wished for weekend homes. After the unexpected lockdowns, people felt suffocated inside the four walls of the flat. The Covid-19 and consequent lockdowns have led to a shift in the preferences of the home buyers. People are now looking for a house that is away from the hustle-bustle of city life. 

Home-buyers are now scrutinizing the options that are a safe and secure environment for their family to spend good quality time with their family. As the saying goes, the supply side is always dependent on the demand side of the consumers. The developers are also coming with the projects of the weekend homes with interesting concepts and lucrative offers. 

Weekend homes have witnessed a big jump in the year 2020. Will this trend continue in 2021 and the future? The NDTV speaks to various top leaders on this, Kindly click here to find out more. Big Boost To Second Homes Demand In 2021 | The Property Show

It is imperative that most people work from home during the lockdown. People started realizing the importance of weekend homes. Instead of living in the chaos of city life, people are exploring the options to explore nature and the outdoors. A weekend home allows spending lots of time by giving a lot of space, a majority of people have to cut down their socialization time and traveling time.  

There are few locations in India that are popular destinations for the buyers for the weekend homes, Panvel, Lonavala, Panchgani, Alibaug, Gurugram, Ooty, Coorg, Nandi Hills, Falta, Barrackpore, Nalsarovar, Goa, etc, are few of the location that are popular among the buyers. Here is the detail blog on ‘Best Destination for Weekend Homes in India in 2022’

Covid 19 pandemic has affected the majority of the economic sectors especially travel and hospitality. The individual lifestyle has been substantially reshaped due to the Covid 19 pandemic. Developers are responding to the demand of the client through research and analysis of the interest of the customers.

Technological advancement in PropTech and digital marketing has escalated the real estate sector, including weekend homes.

What is a weekend home?

The simplest definition of the weekend home is a home where people spend weekends. A weekend home is a second home where the sole intention is for recreational purposes. For some people, a weekend home can serve as a retirement home, it can be relaxation for the weekends only, some may rent it out when not in use for an additional source of income.

Factors attributing to the rising popularity of weekend homes

1. Status

Homeownership is something that is a matter of pride in Indian society, having a second home, away from the city life is certainly a matter of privilege. The weekend homes are generally located in the vicinity of the important location having the natural surroundings.

2. Safe environment

The Covid 19 pandemic has compelled everyone to stay at the home and minimize the contact. The primary priority of the customer is to refuge away from the overpopulated urban areas and provide a safe and secure environment to their families.

3. Infrastructure superiority

There are two types of infrastructure, we are talking about here. From the availability of the grocery shops, hospitals, schools, etc for the convenient living & modern amenities like gymnasium, swimming pool, high-tech securities, etc providing a comfortable and suitable environment for ‘work from home without any hassle. Some of the leading builders are coming up with innovative and interesting concepts for weekend homes, ensuring quality construction, which has been on the investors’ radar.

4. Choices

The target customer has changed over the last decade. Before a few years, only NRIs and upper-class people had access to luxury housing. The availability of the weekend homes ranges from the luxury villas, 1BHK, 2BHK, 3 BHK, etc, all with the configuration that suits the mid-income group.

5. Non-polluted environment

The weekend homes are planned amidst the greenery, away from the metro cities, less pollution, making it ideal for the break from the typical daily routine and the relaxation in the retirement days.

6. Returns on investment

Despite the unstable economic condition of the Indian economy, the popularity of weekend homes has spiked, and therefore an increase in popularity of the weekend homes and an increase in prices of the property and rental income. 

Why is it a good time to invest?

The government has launched several initiatives for the real estate sector. Banks have reduced the home loan rates, the stamp duty charges are the lowest, the values will be always rising, which are some of the reasons why it is the right time to invest. 

The investment in weekend homes can be considered for future planning also. The work from trend is going to stay here. During such times, having a second home is an ideal way of ensuring the work-life isn’t disturbed. Nevertheless, real estate remains one of the best investment ventures.

New trends in weekend homes post COVID-19

1) A weekend home is emerging as a NEED rather than a WANT.

2) Due to the ‘work from home’ phenomena, weekend homes will be used as a workplace as well as residence.

3) The weekend homes will be more preferable to spend holidays than holiday destinations

4) People prefer weekend homes instead of the stand-alone farmhouse.

5) Millennials are more interested in the investment of weekend homes.

6) Concept of fractional ownership of weekend homes will emerge

7) Demands of the farmhouse will increase in comparison to luxury villas and plots.

Conclusion

Weekend homes have a bright future. Overall, weekend homes may witness an upward growth trajectory in the COVID-19 world. 

Staying informed and discussing with experienced & experts while making a decision is an ideal way of making a great deal. All you have to do is contact RoodLand, which provides the best real estate services. For any queries and suggestions, contact us at info@roodland.com and discuss all of your options with us!

RoodLand is a business solution and advisory organization for the Real Estate sector. It is founded by young professionals with experience in management, marketing, finance, and digital technologies. With their innovative marketing concepts and out-of-the-box methods, RoodLand has successfully delivered amazing results across the region.

Consider sharing with your friends, family, and relatives, if you have found it useful. 

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