The world is advancing at a breakneck pace and preferences of home buyers are ever-changing. This ever-changing preference is probably most reflective in India’s youngest section of home buyers (those of an average age of 28 years). And now, builders are wooing this audience by constructing custom-made flats for sale in ayanambakkam that will cater to these young tastes.
Homes for the GenY
Based on the bedrock of offering a great VFM deal at every step of the way, homes for GenY are usually smaller in size but big on the value factor. Recent data suggests that 1 bedroom lofts are very well accepted in the Indian metro urban areas. In Chennai, flats for sale in ayanambakkam especially with these kinds of unit sizes, have become increasingly standard.
But why the sudden interest in building homes specifically for the GenY, you might ask?
Let’s place things into viewpoint- In 2020; India is probably going to be the only country in the world comprising of the most youthful population (those of an average age of 28 years). And nearly 2/3rd of India’s populace in the financially dynamic age band live in the urban regions.
Further, research suggests that this segment will spur monetary development bringing about an expansion in discretionary cash flow and utilization. In the narrative of home buying, this segment is also likely to affect property prices too.
And it is because of this that GenY is regarded as the new 40. With high disposable incomes and the simplicity of financing, this segment is much coveted!
Of the many houses for sale in ayanambakkam, most builders agree that the buyers in the age group of 25-34 years have become the leading segment of first home buyers.
That’s quite a change in contrast with the earlier segment of 40 years.
What is GenY like? And why are they such a key homebuyer segment?
Broadly speaking, the GenY or the twenty to thirty-year-olds we talk of, are a gadget geek, technically knowledgeable, socially adept, highly-paid segment of buyers. They work in innovative occupations and to them; proprietorship of a house for sale in ayanambakkam is a key objective. This is because they understand the judiciousness of purchasing a home over leasing one.
And they consider self-autonomy as the most desired product of present-day metropolitan living.
One of the primary purposes for the rise of the ‘’ minimal’’ homes, for example, studios and 1 bedroom lofts/ apartments, is that it meets the GenY’s double point – of keeping money aside for a rainy day and building of capital assets.
By purchasing a house, they put aside precious money they’d otherwise spend on leasing one. Besides, their purchased home yields an annualized rate of profitability in the scope of 11%-13.5%.
About the amount of money they would receive if the house is sold after their home loan principal amount is paid up, the GenY home buyer will receive a healthy surplus there too. This amount he/she can utilize as an initial instalment for his/her consequent home buys to meet the needs of a bigger family later on.
In this way, whether it’s purchasing a 1BHK house for sale in ayanambakkam or a larger flats for sale in ayanambakkam, buying a home has proven to be the topmost alternative for the GenY. For the maverick financial specialists in this age bracket, the profits are booked by way of a lease earning of 3.5%-5% per annum.
That’s a neat profit whichever way you look at it!
