Why Are Young Couples Buying Their Own Homes?

It has been 70 years to our Independence. In 7 decades a lot has changed in society and in the traditional Indian family structure as well. Hence, one has to change if one has to evolve. 

Until 30 years ago, joint families were the norm. But as the younger generations began to migrate to other cities or abroad, slowly nuclear families started becoming common. Earlier, if a son shifted out with his family, it was considered blasphemous and attributed to discord within family members. 

Today, it is nothing out of the ordinary. 

Why the trend? 

Emotional Reasons: 

Nowadays, unlike 3 decades ago, most wives are also working and contributing to the family income, alongside their husbands. The need for physical and emotional space is much more; especially as they only get quality time with each other on the weekends. 

Secondly, instead of letting the parents feel burdened by the load of home chores while they go to work, they find it practical to stay within the same city, but on their own. 

Additionally, the tolerance levels of the present generation are vastly different from their parents when they were newly married. Rather than create conflict while staying together, it is a better decision to keep some distance, and retain respect for each other

Financial Reasons:?

Young couples, nowadays, are financially better informed. By purchasing their own homes, they're investing in an asset that can only appreciate over the years.

Some foresighted couples, with or without children, also invest in more than one home, in upcoming neighborhoods, which they then put out on rent and earn additional income. 

Today real estate, especially in Mumbai, has been growing by leaps and bounds. Localities which were considered 'too far', or 'not-so-sophisticated', are being developed into beautifully planned neighborhoods which are more suited to the needs of young couples, and are already being counted as 'upmarket'.

Property developer in Mira Road (Mumbai) like JP Infra are consciously designing and executing such high-end projects, which can be bought on installment basis with similar budgets that one would have set aside for monthly rent. This becomes a far more viable option than paying rent, which is, after all, an investment with no returns.

More than anything, the security of living in your own home is unmatched. 

Practical reasons:?

Commute between home, schools and the workplace being a prime factor in decision making, today's couples are choosing to invest in homes which are in close proximity to educational as well as recreational facilities. JP North is one such Residential project in Mira Road which is seamlessly connected to every necessity of a modern day couple. 

Having small children, many young parents nowadays put priority on selecting neighbourhood which are greener and have gardens, libraries, club-houses, music classes or art classes around. Much weightage is given to security within and outside the complex. Couples have the right to demand such facilities as almost every new project has multiple leisure activates right in the project. When it comes to residential project amenities, JP North offers a sea of them. There’s something for everyone. Themed gardens, Indoor and outdoor swimming pool, ample of open spaces for kids, a sports complex to take care of all your fitness needs, and also facilities to nurture the artist in you are all within the project. 

Couples also prefer to buy homes where there is easy access to essential facilities, and at the same time is a young neighbourhood i.e has other families with a similar demographic.

While there are many reasons that couples may have in purchasing their own homes, there are equally good reasons to buy first home in Mira Road, that too in JP North.