Homebuyers looking for multifunctional spaces at home: Report

Owning a home in a central location with basic facilities and decent infrastructure was formerly considered a major accomplishment. But with changing times, the needs and demands of the homebuyers have evolved signicantly. Maintaining good health and leading a healthy lifestyle is slowly becoming a priority for most homebuyers, thus increasing the demand for multifunctional spaces at home, according to Godrej Properties.

In fact, before the Covid-19 pandemic a lot of people were more inclined towards rental housing as homes were just considered as a place to rest and take shelter. However, there has been a value shift in this mindset and homes are now an abode that can cater to diverse needs of homebuyers.

The previous year saw a rise in millennial home ownership and spaces that were located close to essential services. Now people are more specific in their requirements and expect more than just a living space from their homes.

According to a quantitative research report by Godrej Properties Ltd, titled ‘HomeLivabilityFactors’, nearly 80% of home buyers consider it important to have a home as a place to maintain their health and mental wellbeing. Maintaining good health and leading a healthy lifestyle is becoming an utmost priority for most homebuyers, thus increasing the demand for multifunctional spaces at home.

Homebuyers are also looking for a lot of greenery in their residential units. This is also affirmed in the research where more than 80% of the homebuyers stated that they want their homes to be surrounded by open spaces and greens, both inside and outside their homes.

HomeLivabilityFactors also unveiled that 70% of homebuyers consider it important to have an office set-up in their home considering that most companies might adopt the hybrid working model.

Furthermore, the new found time has given people the opportunity to pursue their hobbies. 69% of respondents feel that their home is a place to develop their hobbies and passions. From work stations, study rooms, gym spaces, play areas, better lighting for video calls, well-ventilated rooms, and more, individuals are in search of larger and spacious homes which can fulfill the needs of each family member.

Commenting on the same, Rakesh Kumar, Chief Design Officer, Godrej Properties, said, “Homebuyers are now going beyond the basic checklist and are on the lookout for very specific, custom-designed, and smart homes which are not only technologically evolved but offer contemporary facilities in terms of safety, security, and more. Home life is now centered around health and wellbeing which has led to a strong significance for an open and safe living environment. ”

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