How important is balcony size to property buyers?

People have begun to pay closer attention to their health and general wellness in the aftermath of COVID-19. The influence of this new thinking may also be observed in their housing choices. Because of the rising emphasis on open spaces, individuals are considering residences with balconies, even if they are more expensive.

When purchasing a property, the contemporary buyer maintains an exhaustive checklist on hand. The primary considerations in this approach are placement, connection, and infrastructure. The design, architecture, construction quality, possession date, and developer repute might be next on the list. So, where does a balcony rank on their priority list?

Balconies increase a home’s appeal factor. A nicely built balcony adjacent to the living room or bedroom may be one of the main draws of a residential property. Those with a beautiful view are an immediate hit with today’s homebuyers. Should the size of a balcony, though, be a deciding factor when buying a house?

“The current real estate trend indicates balconies and patios as a must-have item in a buyer’s list,” says Dhiraj Jain, Director, Mahagun Group. Every buyer has an intuitive reason for wanting to use the balcony. Nevertheless, the size of a balcony in the home-buying process differs from buyer to buyer.

Even though the size of a balcony may be crucial to one buyer when choosing a home, it is unlikely to be the decisive factor for another. It is up to each unique user whether it functions as a tiny feature for panoramic views or as a structural component to amuse guests.”

Appearance is less essential than functionality.

Balconies have historically been a popular place to spend leisure time in the Indian context, and the dimensions of balconies, which shrank in metro cities due to rapidly rising real estate prices in the last decade, are being reassessed in the aftermath of the pandemic. It is safe to say that a balcony remains an essential part of a modern home.

Neha Sharma, a working professional who lives in an affluent residential complex in Noida’s Sector 62, considers the balcony to be an addition to the living area. “The balcony is a spot to unwind, converse, and relax after a long day.” “It provides a peaceful respite from the stresses of contemporary life,” she explains. Others say that, while a balcony is crucial for a homebuyer, it is just the second priority. In other words, it is not on everyone’s first-time homebuyer’s checklist.

Residential units in metropolitan areas have shrunk due to a lack of space. As a consequence, balconies have been reduced in size. Many new developments in Noida Extension, for example, include a five-foot-wide balcony. However, the new Unified Building Bye-Laws of the Delhi Development Authority (DDA) has raised the width of balconies in group housing societies from four to six feet. In the case of planned lands, the balcony width has increased to five feet from three feet previously. After overcoming the pandemic, the majority of homebuyers are ready to pay more for a large balcony.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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