Affordable housing has become a popular term in recent years with the government popular schemes. Several governments trying to match the shortage of houses for the mid-and low-income people under Housing for All initiative.
Looking at recent cases, affordable housing homebuyers are more concern about rising property prices and construction quality issues. As per the recent report by Knight Frank, about 80% homebuyers put the cost as the topmost consideration while buying a home followed by safety and security with 71% homebuyers. About 52% homebuyers highlighted parking space as a major gap in terms of their requirements in their current residences. This was followed by adequate security, playground and availability of public transport which accounted for 43% each, according to the report.
Price, construction quality, timely delivery, reliability, trustworthiness, brand awareness and visibility, as well as the past record of accomplishment, were the key factors homebuyers considered while selecting an affordable housing property.
Under Pradhan Mantri Awas Yojana, the government is providing subsidies to address the housing prices concern. On another side, home inspection companies are insuring homebuyers get the quality homes, which are free from construction quality issues and carpet area shortage.
Many homebuyers are approaching third-party Home Inspection companies like PropCheckup to ensure the property is safe and defect-free before move-in into the new home. Home inspection companies conduct thorough property check-up and provide a 360-degree view of the property which covers plumbing system, electrical issues, water leakage, woodwork quality, construction quality, seepage, faulty appliances, safety issues etc.
Source: Knight Frank Report, MoneyControl