Contribution of Millennials in the Housing Market

Millennials, a cult generation widely recognized for their innovative ideas, fantastic approach and enthusiastic execution. Being the consistent observer of this hi-tech transitional period, millennials are the only population which has embraced the changes synergistically. The ‘woke’ crowd always keeps an eye on the developments in every sector. Their constant concentration on technological advancement and active participation in the digitization of every sector are defining the limit to infinite. We can hardly utter any name or sector which is being untouched from this advancement which is helping to gain newer heights. The strongest and high yielding among all sectors is the real estate sector, which is also being influenced by digitization and technological advancement which makes the sectors more captivating.

After the seismic shift in the real estate market due to the inflation period, the entry of the millennial generation proved the effectiveness of investment in real estate and its outcome. Millennials have represented the largest share of the home-buying market for the past five years in a row. End of 2019 marks an increased amount of homes purchased by millennials which promise the growth of real estate and finance sectors too! Homeownership is a milestone to achieve which provides a safe investment of your capital and possesses great potential to generate income!

Real estate in Pune has become a Millennial ‘home ground’ and has altered the algorithms of the housing market in 2020. The new-age real estate trends have pushed the limits beyond and given personalized experiences.

 While house hunting used to be a difficult task, things have changed drastically in the digital age. It was considered a stroke of luck if you were blessed with good projects with great appreciation. Due to the advancement of technology and efficient digitization, we are getting everything served on our hi-tech plate i.e. Smartphones. They made the home buying process way more feasible through various mobile apps and websites in which you can get a property as per your requirements. After all, the creators of these digital conveniences also belong to the same group and therefore have the calibre to understand consumer needs. From leveraging to buying residential property, the options are vast with lots of reliable and easy processes. Expansion of cities like Pune is paving the way for the development of good projects in the suburbs of Pune

The booming suburbs are very likable and liveable spaces where new settlements are ready to crack the markets with comforting facilities like connectivity, shops and malls and office spaces which help to maintain a healthy work-life balance.

Considering the huge entry of millennials as homebuyers here are some tips to the first time home buyers:

1] Get pre-approved for a loan:

Getting pre-approved is the best way to prepare yourself for a competitive market. It’ll help you to understand which homes realistically fall on your purchasing criteria, requirements and budgets. 

2] Utilize online tools:

In a competitive market, it’s important to act fast on a property, but equally as important to find fast listings. These days, most first time home buyers utilize online assistance to view and receive updates on new or existing houses on the market.

3] Be patient:

 Even if you do everything right, it may take some time to find the perfect home. But if you keep looking consistently, the right house will pop up in time for you to make an offer. Try to be patient and a proper investigation can dig out many hidden problems and that’s why it is advisable to buy RERA approved properties. 

Pyramid Lifestyles are one of the trusted names in the real estate of Pune. As RERA registered builders in Pune, our projects such as Pyramid County successfully offer stellar row-houses and flats at the serene location of Bhukum. By maintaining appropriate documentation and transparency in each level, Pyramid Lifestyles not only offers a safe home but a convenient way of generating income through property investment in Pune. Pyramid County is well suited to the millennials’ needs in the real estate sector in Pune.  

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