The journey of women from homemakers to homeowners

By LODHA

According to a report by Investment banker Morgan Stanley, millennials are a key force that drive the financial success and economic growth of India. The new-age millennials have re-evaluated the notions of fair opportunity and gender equality. It is seen that women from this segment are climbing up, and financial independence is becoming increasingly pivotal for them. Gone are the days when money was the domain of the male segment of the society and women were meant to be the homemakers. Quite the contrary, present-day women portray immense desirability towards financial security and stability.

One of the major investments that dominates an individual's financial portfolio is owning a home. In such crucial decisions of buying a home, women have always been recognized as key influencers and important decision-makers. However, considering financial freedom as a current priority, women are leveraging their home-making skills and venturing into home-buying. With the current market landscape, real estate has emerged as the safest financial asset as compared to gold, stocks, etc. and is certainly the best bet women can opt for in the present times. Making it more attractive, various government initiatives like stamp duty cuts for women, the lowest home loan interest rates have provided the much-needed boost to the evolving sentiments and, also to the housing sector at large. 

Looking at the evolving lifestyles, the mindset of present-day millennial women has significantly shifted towards leading an aspirational lifestyle and having a better standard of living. Taking on the charge of making 'dream homes' into reality, women are now preferring bigger configurations that accommodate new-work cultures and simultaneously offer the much-needed space. Additionally, the home-buying decisions of women are largely influenced by aspects catering to safety, security, accessibility, and the overall well-being of the family. This has led to an increase in demand for gated integrated developments with community living experience. Open green spaces, recreational areas, top-notch amenities that enable a holistic living experience has also become a priority in their checklist. For such ambitious and influential first-time women homebuyers, ready homes in well-managed developments serve as an excellent solution that offers a factor of comfort and the backing of 'what you see is what you get'.

Understanding the long-term benefits of real estate and the strong desirability of owning a home, millennial women have come to the forefront as homebuyers. According to a recent survey by ANAROCK, 47 percent of women property-seekers who were polled, were in the age bracket of 25-35 years, followed by 41 percent in the 35-45 age bracket. The same survey too states that 62 percent of women picked real estate as the preferred investment asset class compared to the stock market, fixed deposits, gold, and 70 percent of women respondents consider the current time ideal for buying a home.

With passing time and shifting priorities, today's women are looking forward to educating themselves on financial inclusion, financial equality, and financial literacy. Through this favorable market scenario and the ongoing demand in the sector, real estate will only appreciate, which is going to contribute to the nation's economic growth and ensure capital gains for every investor. Modern-day women symbolize influential desirability to become financially independent and take decisions on their credibility and understanding, and choosing real estate is undeniably the best option they can vouch for. The ongoing scenario in the sector being favorable and the determination of present-day women to fulfill their financial aspirations on an uptick, it is the perfect time for women to unshackle from their limitations, be a better version of themselves and take the plunge towards being proud homeowners.

Published in The Times of India