Betting On Bigger Homes

Given the change in scenario with work-fromhome becoming a feasible option, both the salaried and entrepreneurial class of people are now looking at homes with extended space, says Santhosh Kumar, Vice Chairman, Anarock Property Consultants

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Across cities, the trend of office work shifting into our homes – the much-talked-about work-from-home (WFH) effect – has taken hold. A home office, previously considered a luxury or even completely unnecessary, is now an important feature. It not only helps homeowners to separate work from personal life to some extent but enables the focus required for optimal WFH productivity.

The ‘New Normal’

Many companies have discovered first-hand that WFH is a viable option and are willing to extend it to employees who can maintain productivity under these changed circumstances. Some companies have even given their employees a permanent WFH option, while others have extended it to mid-2021. Like their owners, homes now need to multi-task efficiently. A separate workspace is therefore essential, and many homebuyers are willing to shiftto cheaper suburbs and even to smaller cities to get larger homes.

In most cities, homebuyers are opting for 2.5-3 BHK configurations wherever they can purchase them within their budgets. The peripheral areas of our cities are invariably cost-effective – and even though a larger home amounts to an added expense, homebuyers correctly see it as a secure investment for what are currently less-than-certain times. Even in other respects, the quest for larger homes is not a surprising trend.

A Natural Progression