Increase in Number of Young Couples Buying their own Homes

By : 360 Realtors

19 June, 2018

With more than 70 years of Independence, India is emerging as a fast developing country. Especially the real estate in India is developing by leaps and bounds. Until 30 years back, the concept of joint family was very much in trend. If the younger generations used to move out for a nuclear family then, it used to be considered as taboo. But to address the need of the day, more and more people are moving out of the family and it is nothing exceptional now.

There are various practical reasons why people are moving out of the joint family. Unlike 3 decades back, today women contribute equally to the family income. So it is practical as the young couples only get weekends to spend quality time with each other. They don’t want to waste this time carrying out family responsibilities. Besides, they even don’t want to burden their in-laws carrying out their household chores while they go out to work. So they prefer staying in a separate home even though in the same city. Additionally, today's youngsters do not have patience like of their previous generation. So rather than staying together and hurting each other’s feelings, its only best to stay away and maintain love and respect.

Additionally, the young couples are financially better informed. They buy their home as an asset for the future. If they even can afford, they choose to invest in more than one home and let out the other one to have an additional income by the way of rent. The online real estate in India is growing by leaps and bounds due to the very same reason.

Even the developers today looking to the market’s need are putting up a lot of luxury real estate for sale. The NRI properties are the best sought after for this purpose. There is a huge market for the NRI property in India.

One of the most practical reasons for young couples to buy their own home is to be in the proximity of their workplace or the educational institution of their children. The International schools are generally in the outskirts of the city. So if the parents decide to save on the travelling time of their child it's most practical to move in a locality in the outskirts. The modern homes come with all the basic amenities such as swimming pool, gym and fitness centre, garden, play area, jogging area, and much more. They have something or the other to suffice one and all. Having small children the young couples are picking up neighbourhood which has greener gardens, libraries etc. aiding in the overall growth of their children. Easy access to all the essential facilities with a demographic similar to their own is preferred.

These are some of the practical reasons why young couples are looking towards moving into their own homes and start a nuclear family and still have great bonding and love with their roots.