Joint vs Nuclear Family
Gone are the days when people used to buy homes based on where the extended family aka Parivaar is settled. Families are gradually changing their attitude towards property buying behavior. They are now moving from an era of joint family system to smaller nuclear families. The needs of both the joint and nuclear families are of course different.
A joint family may require larger homes to live in. The grandparents usually want to stay where they have lived their entire lives. The ideal Joint Family Homes will be having a shared living room and a common kitchen as everyone must live under the same roof. And in a joint family setup, normally all the family members would comply with the decision of elders.
On the other hand, a Nuclear family would just comprise of 2-3 members – just the couple & the children.
Because of growing literacy & urbanization, people from villages & small towns migrate largely to big cities in search of better career opportunities. This adds to the growth of nuclear families as the younger generation is migrating to other cities while the elders remain rooted to the base as they don’t find themselves comfortable in any other city or region other than their own soil.
Data provided by Census tells that the percentage of nuclear families is around 70% in the country.
Choice of Homes
With such a scenario in the country, there are big opportunities for the Real Estate Industry. The property industry is getting bigger day by day. The real estate agencies now address every client’s needs based on their profiles in an organized manner.
Nuclear families would rather choose apartments, row houses or other smaller independent units. People are now increasingly thinking about having a household near work, parks, shopping malls, schools and hospitals.
This lifestyle is possible in smaller gated colonies which are in well-structured posh areas. They make a safe neighborhood for the whole family.
Young people also buy with the intention of investment. People prefer a property that is resalable at a much higher price later down the years. A secured property investment is definitely considered a good buy!
Nowadays in Urban households, both husband and wife are earning to make a decent livelihood. And the good part is that a wife now has her say in decision making on issues that were earlier never discussed with her. This is because the women are now becoming educated and financially independent.
If you ask women for the kind of homes of their choice, the prime focus is safety, comfort and convenience in terms of daily supplies. Women want to upgrade their living standards.
We now move in a society that likes to show off and where change is the only constant!