Real estate decisions are usually made out of urgency rather than a plan.
In the real estate sector, decisions are usually time-sensitive and not strategy-based. Consequently, a number of buyers usually buy properties backwards. They focus on the short-run aspect of convenience rather than the long-run aspect. This presents itself more within the context of Pune real estate. The reason why most of the population buys properties backwards, resulting in purchases within the dead zone of the financial crisis, is that people usually begin with questions such as, “Is the apartment ready for moving?” “How far is the apartment from where I work?” “What facilities does the building offer?” Since these questions tend to highlight the short-run aspect of living, people tend to pay no heed to the long-run aspect of the devaluation of apartments, increasing maintenance charges, and lack of flexibility in these apartments. The apartments get old, subsequently resulting in the devaluation of their cost and requiring repairs. The investment potential diminishes. While the land investors, on the other hand, perform the Smarter way of investment with land, seasoned investors turn the process around. They begin with land because land never devalues its worth with time, as contrasted with an apartment, where its value continues declining as growth and development take place. There are no monthly expenditures associated with maintenance as well. And what follows as one of the most preferable features associated with land is the ability to construct at any time in the future. Most people do not realise this, and they lose most of their money due to wrong land and wrong location. The actual worth of a property is in the location and not in the building itself. The growth corridor around Pune, such as Karla-Lonavala, is becoming a hot destination based upon the infrastructure developments of major cities, due to growing tourism, and second homes of working professionals with high turnover for peace of mind with their families from the madness and chaos of cities, to have a vacation home destination in a second home retreat as road connectivity has developed in the past years and outskirts of cities are growing rapidly with increasing lifestyle investments. Thus, with growing density in cities, land in these places is rare and precious. Post-COVID-19 pandemic, buyers' priorities have changed significantly. Buyers today look for more open spaces, Nature-based living, as they need the tranquillity that comes with Nature for mental solace and family-centric spaces. There has been a surge in demand for farmhouse plots and planned developments around Pune, not only for residential purposes but also as an eventual wealth-generating opportunity.
