Let us start our discussion with the role of children in decision making. If one is going to buy a home when their children out small, they must take that into consideration. Even young couples, who do not yet have children, should consider this as an important factor. Medical facilities should be readily available, not only for children but also for other members of the family. Everyone will agree on the importance of good educational institutions is available. As a result, almost all the projects are giving importance to these primary needs.

The other factor which influences our home buying decision is our family culture. Are we going to live a nuclear family or a joint family? Lot changes when this dynamic comes into the picture. A joint family would need an independent house with more space to accommodate all the people while a nuclear family can easily make do with a 2BHK apartment or a smaller house.

The other factor is who has a major say in the buying decision. Is it a male or female member of the family? Men tend to make quicker decisions with lesser influence from others. On the other hand, women are more prone to negotiations and try to cater to everybody’s needs which lengthens the process.

Lastly, the number of working individuals in the family. If both the members of the family our working, families tend to go for prime location and can afford a little more luxury.

Let us know your home buying experience. Who influenced you most and how?

We are talking about Home loan top-up. Home loan top-up is a smart financial move for you if you need money given you already have a home loan. It is more efficient both in terms of interest cost as well as duration. To explain it better – Top-up on a home loan is an addition to your already existing home loan. If you are already in the process of repaying the loan amount and doing it without missing any of your EMIs, you can avail of the top-up facility by agreeing to the terms and conditions laid down by the bank.

Most of you may think still think why not to apply for a new loan than disturb an existing loan? The thought process you must be going through while contemplating from where to arrange funds is that how can I easily arrange funds at the lowest interest rate available in the market, isn’t it? The brand new loans can be a personal loan, a loan against property, a gold loan or any such loan which you can avail against collateral or even without collateral. But if you would have ever taken a loan, you would know it is not an easy process, it comes with a lot of paperback and headaches.

From the way property seekers, scout for property to offering probable buyers with applicable information to investigating property values – all the phases of property procurement are now powered by AI and machine learning. In the Indian property sector, AI has the vast scope and ability to lessen operative expenses, augment and advance customer service, recover competence and condense resource depletion within the industry.

Some of the areas where AI is used and can be used more effectively in the future are Chatbots, Investor Analytics, Forecasting Loan Defaults, Deal Matching, Construction Automation, Property Management, Intelligent Search Platforms, etc.

The other technology which is emerging very fast in real estate is Virtual Reality. It has changed the way builders project their properties. It provides a preliminary idea of what the completed building would entail and aids in the decision-making process.

Innovation in the construction sector has paved the way for a wide range of dynamic building structures. The new developments are specialized to be water-resistant, flame-retardant, and safeguards against earthquakes and other natural disasters. The futuristic construction technologies have not only reduced the time frame for the completion of the project but also reduced the overall cost of the project. Labor costs can be significantly reduced, and quality and precision standards increased by using robotics for the repetitive, mechanical functions such as bricklaying.

The real estate has seen a major change in marketing methodology of the projects. The builders have started looking for technology now to reach a wider audience than traditional marketing methods like paper ads and hoarding which are not only expensive but also have limited reach. Now the real estate marketing portals offer a wide range of valuable insights, including market dynamics, customer analysis, projected trends, and more. This helps the developers and brands to reach a much larger target audience.

With the rise of innovative technologies and the growing need for environmental sustainability, the real estate industry has also witnessed a rapid growth in green construction. Solar panels and energy-efficient features are commonly being offered in today’s buildings to lower the carbon footprint and impact on the ecosystem.