It’s almost 2024, and you are still considering buying a new home? Well, buying a new home is a big decision, and it’s a challenging one. You must consider certain things before getting your dream home, whether in Bangalore or any other metropolitan city. Well, it’s not a dream anymore! In this blog, we will look into the trends set in 2023 and how the market seems for home buying in 2024; we will also look into the future trends and how you can adapt some sleek and intelligent moves to make your home-buying dreams come true.
What are the trends predicting about 2024?
Before moving on to the future trends, let us show you some stats about the real estate market in India and what is expected of it shortly so that you can understand house buy in Bangalore.
- The Real Estate Industry In India is estimated at USD 265.18 billion in 2023 and is expected to reach USD 828.75 billion by 2028, growing at a CAGR of 25.60%
- The real estate sector in India is the second highest employment generator sector.
- Bangalore is expected to be the most favoured property investment destination.
These are just a few of the stats, but what we mean is real estate is the most dynamic sector and buying a house can be daunting. But here are some of the trendiest house requirements that people look for, and you should too:
- As stated earlier, in the state, the real estate industry is bound to grow, and along with its growth, it’s evident that the rates of properties will also increase. For home buying in 2024, you can also witness the same but at a slower pace. But we suggest buying your home this upcoming year as it’s the best long-term investment.
- Environmentally friendly living space is the most in demand when looking for a house with a minimal ecological footprint. Modern homes increasingly incorporate green building techniques, energy-efficient devices, and environmentally conscious materials as standard elements.
- Affordable house buy in Bangalore is the most essential trend we may see in home buying in 2024. As with the rising population in metropolitan cities like Bangalore, affordability has become the primary concern for homebuyers. This objective will be realized by creating smaller and more economical housing units and introducing government programs and incentives to foster affordable housing.
Smart moves for home buying in 2024
Financial Planning: The first step is to carefully evaluate your financial standing and decide on a budget to determine your affordable home buying in 2024.
Credit Score Improvement: A good credit score also increases your chances of unlocking more favourable mortgage terms. A higher credit score increases your chances of loan approval and ensures better interest rates.
Research Mortgage Options: Dive into the world of mortgage options. Investigate different types and carefully compare interest rates offered by various lenders to identify the most advantageous terms tailored to your unique circumstances.
Save for Down Payment: Set a savings goal and automate transfers to a dedicated account to accumulate the necessary down payment for your future home.
Discover government programs: Look into government programs and incentives designed to support homebuyers, particularly those to assist first-time buyers.
Real Estate Market Analysis: Stay informed about market trends, research neighbourhoods, and assess property values to make well-informed decisions. And what better way to take advice from real estate experts?
New Year, New Home with Valmark
Embark on the journey to your dream home in Bangalore with Valmark, a renowned real estate developer. We are committed to crafting exceptional living spaces. Valmark specializes in luxury projects, featuring an exquisite portfolio that includes Valmark Apas, Valmark Cityville, and Valmark Orchards. With a reputation for delivering quality and innovation, Valmark offers a range of options to suit diverse preferences and lifestyles. Whether you seek modern urban living or a serene retreat, Valmark’s meticulously designed properties showcase a commitment to excellence. Explore their offerings at https://valmark.in/ and let Valmark be your trusted partner in making your homeownership dreams a reality.
