The real estate market in India keeps getting more competitive each year. This is due to more people moving in from provinces to cities to find work, have a change of lifestyle, or pursue academic interests. With that said, MRG World and many other people understand the need for more housing that’s affordable and accessible for many types of tenants.
Keep reading to learn about the growing forms of housing solutions that people have been creating to shake up the real estate market.
The tiny house movement has been growing over the past decade. Tiny homes are best characterised by their maximum size, which is 399 square feet. In addition, most of these tiny homes are built on trailers and have the ability to be transported around the country for easy relocation. These types of housing can be made on trailers, recreational vehicles, and vans, while few consider cars to be a form of tiny homes.
As a result, it seems that each year, more and more people are transitioning into tiny home living because of the perks it offers like affordable homeownership, a simpler and minimalistic lifestyle, the ability to travel more freely, and as a real estate asset. In fact, the movement has grown big enough that communities and trailer parks have formed specifically for tiny home living. In these spaces, people can test out this lifestyle by renting a property on these lands before committing to one.
Condominiums, or condos for short, are a great residential option for those who want to be close to the heart of metropolitan areas and those who thrive on the never-ending energy of a city.
The types of people who normally live in condominiums consist of young professionals, couples, and families. It’s not uncommon to see the elderly also living in condominiums as it affords them quick access to amenities within the city like hospitals, clinics, pools churches, gyms, and the like.
With all that said, let’s look at the alternative forms of housing that fall under the condo section.
Loft type condominiums
Loft-type condominiums have a smaller floor space, most ranging from 160 square feet to 280 square feet. The most recognisable feature of these types of condominiums is the high ceiling that allows for a loft to be added. This division in space is highly sought after because it enables the occupants to store more items, create a sense of additional space, and do more with the space on the lower floor.
These forms of condos are still quite new but are quickly catching traction as many people who live in condos have been looking for ways to install loft infrastructures in their own spaces.
Another option that involves a condo is called condominium sharing, where the owner of the property has enough space for a second or third tenant who will rent a bedroom or space. This allows for more people to live in condos without having to pay for the high costs of rent within a city centre. In addition, this helps the property owner as it could be treated as a form of income or simply a way to pay the property’s dues.
This form of condo sharing is mostly seen in young couples and individuals who are looking to save money while also maintaining access to their workplace or other points of interest within the city like restaurants, malls, and hospitals.
Container homes are one of the other forms of alternative housing that grew in popularity with the tiny house movement. This form of housing became popular because many people saw spare containers lying in storage areas and that the foundations of a home could be made on the already existing structure of a container. With this thought in mind, engineers, designers, and architects started creating designs out of container models and bringing them to life.
The result of these designs would be innovative homes that could be stacked like compartments and individualised to a tenant’s liking. Furthermore, these homes could be transported easily on the backs of 8 to 16-wheeler trucks, depending on the length and width of the container.
Prefabricated homes are not a new invention. In fact, they’ve been around since the 1900s and were also marketed as an elegant, affordable, and simple way to own a home just like we market them today.
The reason why these homes are much more affordable compared to standalone houses is that the parts for prefabricated homes are ordered in bulk and many have a similar design with a few design aspects that make them different. This makes ordering the parts and assembling them much easier to do, in addition to introducing the models to buyers and creating order forms.
These homes are making a resurgence today as more people have realised how effective they can be in today’s healthy real estate market.
Find a place to call your own with MRG World properties!
India seems to have no signs of slowing down when it comes to more people being introduced to city life. Many types of people come to the city looking for opportunities and as such, look for homes that fit their specific lifestyle. The real estate market deserves innovation because of the rising property valuations and different people looking for homes. You also deserve a dignified home in the city to call your own, so inquire about us today.