Amenities are an important part of any real estate project, which builders use to woo home buyers. While some amenities are essential, like a security system, elevators, etc., property sellers may, at times, also highlight amenities to hide flaws in the project flaws or to propel the sales momentum. Pankaj Bajaj Eldeco says that choosing a developer well should be the cardinal rule for home buyers. They shouldn’t get lured by euphuistic promises.
Each buyer’s need is unique, points out Vinod Rohira, managing director – commercial real estate and REIT, K Raheja Corp. He suggests “Buyers should first evaluate their needs and compare it against the services available in the micro-market and then look at the amenities provided in the project. This is the best way to choose a product,”
Experts believe that it would be wrong to say that amenities do not influence a buyer’s decision. However, if a project has an indoor/outdoor swimming pool, a gym, or a park, it will require consistent maintenance and add to the home owner’s overall monthly expense. Despite this, many buyers nowadays ask for such amenities, while buying a project.
The budget and the segment that the home buyer belongs to, also plays an important role in deciding whether certain amenities are essential or avoidable. An affordable home buyer may feel satisfied with a basic home, without any extra facilities, whereas a luxury home buyer may want more than the amenities that are already provided in a project. For example, a swimming pool, gym, club house, spa, bar, etc., can come under the avoidable list, for affordable home buyers. However, for home buyers in the luxury segment, these could be the basic requirements.
The choice of amenities, should be evaluated on the basis of personal preferences, requirements, availability, affordability and exclusivity. Experts recommend that buyers should only opt for something that they are completely aware of and not be lured by rosy pictures painted by home sellers in their advertisements. Amenities always add some fixed or variable cost to the property and this may impact the resale value of the property.