Jul 15, 2015: Home buying has come a considerable ways in the last decade or possibly even longer. An activity that has been once thought to be a complete family members decision taken together with all dear ones has slowly become like every other purchase. So, just what has changed? Keep reading.
The arrival of the internet has a direct impact on all facets of our lives. It has changed the way in which we connect to different people worldwide, pay bills as well as shop. Little by little, it has just changed the way how we search and purchase homes. In fact the actual tie ups associated with several renowned builders with diverse e-commerce and real estate portals for marketing their projects are an illustration of changing situations.
Number of internet surfers in India is likely to grow to 500 million. A recent study by Google India showed of which over 50% of real estate buying decisions tend to be influenced by internet research plus the phenomenon of looking into online for real estate information was not restricted to metros, but additionally extended to potential buyers in Tier II urban centers.
According to the consulting firm McKinsey & Co, E-commerce is not any longer limited to apparel, gadgets as well as white goods. Consumers are perhaps buying houses via the internet. The company anticipates online medium to emerge among the fastest developing channels for real estate property sales. According to the internal research, many experts have seen that 70 percent of customers are coming from the online channel. We strongly think that India is getting ready to buy homes online and definitely will continue to produce new and innovative strategies to reach this target audience in real estate market.
Home buyers make use of real estate portals to research floor plans, pricing, amenities, neighborhood and other aspects related to projects they are interested in. Almost equal volume of respondents 26 % each claimed that they would directly reach the concerned developer or get in touch with a real estate adviser or agent. These have been the most well-liked modes for finding homes most of these years. Even though websites are catching on preference, due to convenience and insufficient home buyers connected with part, over 40 percent of the buyers still choose the conservative ways. Another 20 % of the respondents still rely on the ‘word of mouth’ concept. They claimed that the simplest way of finding a home is through family members or friends. However, the excellence of information listed on real estate portals is increasing, the online business is estimated to rise at 40 to 60% in another 5 years.