If you were analysing the buy property online search volumes till the first week of March, 2020, you could safely conclude that all was well and home seekers, akin to financial year endings before, were getting ready to make a decision on their home purchase and write out that cheque.
A home buying decision, unlike what most sales folk think is not fuelled by their sales pitch. Home seekers who have achieved a certain pre-set life goal – a promotion, the necessary saving for that down payment, marriage, a new baby or the quest for another address in a new city; do not need to be injected with a housing demand serum. The demand for housing already exists. And, if we may add, this demand is ever growing.
So, here’s the question we need to ponder over. When this pandemic induced lockdown jammed the brakes on the economy, did it also wipe out that demand for housing? Did thousands of new home dreams, that spring forth everyday, just disappear into hospital lobbies and relief packages?
Probably, mostly not.
So, what’s really going on? The demand is where it is. Safe. Intact and maybe, even growing a bit each day. On the flip side, there is housing supply. As builders are unsure of construction material, labour and finance availability in the short term, especially as we struggle through this global lockdown, new project launches have been paused.
Can you see where this is headed now? Demand is at peak and there is no new supply. The armchair economist inside you will tell you that this means deals are waiting to be cracked. An informed real estate brokerage like Square Yards will tell you that no one is waiting. On the contrary, the sharp ones are buying up the best homes even as you read this blog post. Plus, there is no supply coming to replenish the shortage in the short term.
And how on earth is that happening?
A home purchase requires choice. Years of online listing of homes has ensured that choice is right at every home seeker’s fingertips, 24 x 7. What about trust? Top developers have never run into a trust issue, we think. They promise something and deliver exactly that, at the agreed price and mostly on time. Online banking systems, on the other hand have instilled the financial faith that is needed to complete a property transaction, without ever having to count or sign any form of paper.
The gap remains in the experience. How does a home aspirant check out how her home will look like? What is the exact location and what lies around it? Connectivity, investment value, comfort, convenience and other details are things that require a human touch. These are the finer points that need assurance. Iron all of that out and you have a deal. In fact, hundreds of home seekers who bought homes from us since this lockdown began are probably our most delighted customers till date – thrilled with the experience of transferring the booking amount on a house, that they would have otherwise missed amidst all the daily chores and pressures.
This is not hearsay, rumour or backseat driving. At Square Yards, we are actively matchmaking. We are the dipsticks. Boldly trying out things that have never been done before in the world of property distribution. And sometimes, like these days, our risks are paying off. For home seekers like you, the developers and us, in that order.
Try our revolutionary home buying technology, aided by our delightful pre sales, mortgage and post sales services, all backed by bullet proof trust enjoyed by thousands of home buyers every month across 9 countries. This is matchmaking at its best.