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Why Do Intelligent People make wierd Real Estate Decisions

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Why Do Intelligent People make wierd Real Estate Decisions

Last updated: April 23 2012
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  • #11

    #11

    Re : Why Do Intelligent People make wierd Real Estate Decisions

    Hi Tsongt

    I totally agree with you when you say that people have the right to make their own decisions. But, you would be surprised when you ask people why the made a particular choice, the responses are so stereotypical.

    We think we are making a choice but in most cases its already made up for us. Take the case of buying a Jeans. 90% people are under the assumption that they are making an intelligent choice by buying Levis over Lee. But both cost you 1500-2000. Both made in China for 5% of the cost. Both are sold in US for 20-30 USD so approx same price as India while their lifestyle is way ahead of us. These compnies try to play on the Indian ego of people paying through nose to have their individual style.
    Unless we concisously avoid videshi brands, who are ripping us off, we only have an illusion of choice. We are being ripped of either which way. Problem is our ego never allows us to admit we are being manipulated.
    My point is if we have a choice why are we so alike. Try visiting a theatre and checking out people with similar age group around you. Chances are most of them would be dressed and be carrying s of exactly similar brands. So where is the choice my friend ?

    Same problem is with real estate. Be it GK group, Pride Purple, Rohan group, Kolte Patil, etc we have no choice. They all are fleecing us. Unless you buy land and construct house.. not too much you can do. Of course some builders are marginally better than others.. but honestly after 2 years research to find my house.. i realized only marginal difference. Thats why I say intelligent people who make awesome decisions at work, are mostly just following the bheed and janta is choices of clothes, real estate, etc..

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    • #12

      #12

      Re : Why Do Intelligent People make wierd Real Estate Decisions

      Countryside living.

      WOW! this is a very good discussion.
      I work and live on rent in Mumbai and have been looking at various places.

      You are right the Amenities like clubs, gym, swiming pool they are just a facade. One place I visited and went to see all these extra things... swimming pool for example its been turned into a pond - the builder is going to build some island flats. The Gym is in tatters - damp and dark everywhere down in basement. Very sorry state of affairs.

      I have always loved the idea of living in countryside and tried looking for land around in Mumbai. And it always sounds great as an idea. I feel the land rates are still inflated than they should be. And on top of that, there is little facility like 'modern' schools, which i think is very important for a family with kids and most important thing is to get accepted in the new environment by the locals. Unless one is going in a planned township.

      I don't know of any planned townships in countryside near mumbai, which are affordable, secure, environment friendly and decent. Guys if you have any suggestions please let me know.


      Cheers

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      • #13

        #13

        Re : Why Do Intelligent People make wierd Real Estate Decisions

        wierd Decisions Vs Matter of choice

        Its looks to be weird for some but a matter of choice for others....I dont agree with any of your argument at all & if you call it weird I dont see any weirdness in those, coz you may like Banana & I may like Orange, so can not say that my choice is weird

        Lets take your points one by one....

        Having Houses close of Offices: I would like to have my office at walking distance if possible,I like magarpatta City concept & if I can get job there then I would love to Buy a house there..and if its not at walking distance then at least within 10 kms from the office, as I would like to spent that extra "2 Hours" which I might be wasting the city's traffic jam...You know if your travel hours is too long from ur office to home then its add extra pressure on u....As we are usually working for 8-10 hours (or maybe more than that) in office if you add 2 hours of traveling time then you hardly will get time for your family....

        Paying tons of money for useless amenities: Again its matter of choice, I would like to have full functional GYM in my society that I can use in the morning or evening hours without binding of time & dont have to travel 5-10 kms for GYM (this traveling alone kill ur urge to go to a GYM)...So, its good if your society is having good amenities...The catch here is most of the builders in Pune Promise for state of ART amenities & you end us getting some ordinary things...

        Treating Real Estate as an Investment:Again, these thing comes in my mind when I buy a home, coz I am going to put almost all my saving to buy a good house & will be paging EMIs for nest 15-10 years,so there is very little chance to save more, then I would like to see my house as my investment & its should grow at least better than the interest I am paying on my Loan

        2nd thing, I may buy a 2BHK home , as my family need fulfill with 2 BHK & I might have budget for that only but in future may after 5 years I may need a 3BHK or house in a better locality (may I get better salary by then & I can afford a much bigger & better home by then)...so If I would like to sell that then I should get a decent growth with that investment....


        And last but not least, in my 10 yrs of career I have changed 3 locations, so I may change my work location again (Due to several reasons ) then if I like to sell this property & wanna buy a new home at my new location then I should get a decent profit on this....

        So, in short its looks weird for some but it might be better decision for others, so we can not generalize this decision , its based on many more inputs than what are mentioned here
        Last edited by ash7979; August 1 2009, 10:56 AM.
        Cheers,
        -Ashish

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        • #14

          #14

          Re : Why Do Intelligent People make wierd Real Estate Decisions

          Hi Ashish

          Respect your opinion buddy.. but with two exceptions:

          I already said if townships were like magarpatta there is no problem at all.. but there is only one magarpatta

          Secondly i am yet to see a nice fully functional gym in a socitey. Have seen Rohan, GK, Kolte Patil etc.. sham in the nam of gym and swimming pool, water is not changed.. and so many basic issues..

          But you were perfectly right when you say that everyone has the choice of making the right decision. I had a choice of writing this article and you have the choice of disagreeing with it.

          Comment

          • #15

            #15

            Re : Why Do Intelligent People make wierd Real Estate Decisions

            Thanx

            Hi Akshay,

            A good article, timely advise and effort well spent

            Will post my thoughts later.

            Comment

            • #16

              #16

              Re : Why Do Intelligent People make wierd Real Estate Decisions

              Originally posted by akssenti View Post
              Hey Vinod

              I agree your with your point about travel time. My idea is to always measure the advantage with the cost. If I have to travel an hour to office.. its fine by me as long as my family gets all the advantages like homely environment and less noise and pollution.
              Also one can always use the cars stereo to listen to some nice audio books and songs and other stuff. Once i come home i hate to hear too much noise. This is a rather personal opinions and is bound to vary from one person to the other.
              that's right. it is a highly subjective choice. a few people may like listening to audio books or music for two hours a day in their cars, and some people may like to spend that time with their family. i am not too sure what you mean by homely environment. why can't areas like baner, aundh pashan offer homely environment for the people who work in hinjewadi? maybe if you can compare two suburbs, that will get your point across. i think branding their choices as weird is a little harsh.
              Last edited by Vinod Gupte; August 1 2009, 06:35 PM.

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              • #17

                #17

                Re : Why Do Intelligent People make wierd Real Estate Decisions

                Originally posted by Vinod Gupte View Post
                that's right. it is a highly subjective choice. a few people may like listening to audio books or music for two hours a day in their cars, and some people may like to spend that time with their family. i am not too sure what you mean by homely environment. why can't areas like baner, aundh pashan offer homely environment for the people who work in hinjewadi? maybe if you can compare two suburbs, that will get your point across. i think branding their choices as weird is a little harsh.
                Hi Buddy

                Baner and Pashan and Aundh do offer a homely environment. The only few areas i felt a little uncomfortable with are Kharadi, and Wakad and its a very personal choice. I am sorry if anyone feels offended but it was never my intention. I am sure Kharadi will be a booming place in the next 5 years but i like to stay away from all the noise surrounding booming areas.. I do not have the authority or the arrogance to say XYZ area is not fit for living. I just said its not my cup of tea and developers abuse this perception of it being a IT area by giving ridiculous rates.

                As long as you want to live in that area its no issue at all. Most times some people get carried away by the fact that it is an IT area and houses will have good appreicaition. The point of the article is to make us question our own assumtions on what a good house for us means and not go by standard builder jargon.

                Now for meaning for homely: I was brought up in Delhi in a goverment socitey where each group of buildings has big lawn where children play cricket and other games. Roads were not brimming with cars and no one was shouting at us for making noise. I think the formative years of children are very important. If we coop them up at home because we can be close to office i think its unfair on them.

                The basic point of this article is just to make people question some of the jargons builder throw at people. Everyone has the right to chose what's best for them. Apologies to anyone who has been offened.

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                • #18

                  #18

                  Re : Why Do Intelligent People make wierd Real Estate Decisions

                  Good discussions friends.

                  I made a small conclusion here:- People treat countryside as traveling for 2 hrs. Well, that's not the case. E.g. My traveling consist mostly to SB Marg, University Rd. & Deccan, which are easily accessible from Baner. I can reach University circle in 20 mins flat. Similarly, it offers good connectivity for Mumbai, I need not cross any part of city at any given point. Hence, I my purchase of house will be towards Baner.

                  It has been over 4 months since I traveled towards Magarpatta, though I take Vimannagar route from Bund Garden while going out of station via Nagar Rd. The old peth areas are never in my list.

                  Areas like Baner, Pashan, Bavdhan may not command the 'wow' factor (I don't believe in this) as that of Boat Club Road or Koregaon Park. Few of my freinds do stay here, but I never visit them during evenings. Reason:- Traveling on North Main Rd. (I hate the bridge which connects Kalyaninagar to KP as this is the sole reason to make this North Main Rd. a nuisance, all the peace has been lost)/ RB Road (Pune Station) is like testing your patience. I better drive for 2 hours on open roads than drive for 1/2 Hr in stop & go traffic, because the fatigue you get by driving in city for 1/2 Hr is much more than driving for 1-2 Hrs on open roads. Better to spend 1Hr of quality time with family than spend 2Hrs saying huh...huh due to the fatigue.:p

                  Some of you who are married & have kids may have an issue of schools but I there are plenty of good schools in suburbs too:- Loyola,Orchids, DPS, etc. Some Sharad Pawar International school is also there in east Pune, if I am right.

                  Of course there are some who have a syndrome of 'Heart Of the City' (see what happens to them in Ganeshotsav festival! Some go to stay at their relatives place too!).

                  I may be biased for not liking to stay in heart of city locales but right from my childhood, I was used to staying away from prime city limits, which I really enjoy & I feel that the quality of residence which you get at suburbs is far superior than that of old city limits, though currently not comparable with that of countries like Canada, US.

                  * These are my personal views. Would like to hear from you all too.
                  Last edited by realacres; August 1 2009, 10:47 PM. Reason: typo.
                  If you are happy, you are successful.

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                  • #19

                    #19

                    Re : Why Do Intelligent People make wierd Real Estate Decisions

                    Real, you took it wrong buddy....Here nobody is saying is that they want to stay in the heart of the city, the real question is that wether we should stay near our office or should stay where your family likes or get better facilities in & you might have to travel 1-2 hours to ur office for that....My take on this is that, in Pune I have not seen any society which has a playground where our children can play Cricket or football (which we used to do when we were children)...In most of the society I only see a place of 20X20 sq ft as children play area....which has been shared between at least 100 families (flats) & in some case its more than that like 400-500 flats (you can take example of Comfort zone in Balewadi for this case), so I dont think that our children can get those facilities (playground) which we used to get & I dont think ppls bother for that also, coz I have seen most of the ppls here discussed abt the flat which hardly have a play area for children....Most of the ppls see what Bath fitting we are getting or whether we are getting vitrified tile/ Marble flooring in our drawing room...

                    I like the Township concept like Magarpatta or nanded City, but I hardy see anybody discussing those projects...I wish , somebody(some good builder) come with some township project of around 50 acers or more, somewhere in Baner/Balewadi area
                    Last edited by ash7979; August 1 2009, 11:10 PM.
                    Cheers,
                    -Ashish

                    Comment

                    • #20

                      #20

                      Re : Why Do Intelligent People make wierd Real Estate Decisions

                      Originally posted by ash7979 View Post
                      Real, you took it wrong buddy....Here nobody is saying is that they want to stay in the heart of the city, the real question is that wether we should stay near our office or should stay where your family likes or get better facilities in & you might have to travel 1-2 hours to ur office for that....

                      I like the Township concept like Magarpatta or nanded City, but I hardy see anybody discussing those projects...I wish , somebody(some good builder) come with some township project of around 50 acers or more, somewhere in Baner/Balewadi area
                      Ash, the fact is that the offices are mostly located in CBD areas. Hence, the statement. Btw, those working in industry don't have to bother much but those who work in both simultaneously, need to calculate these factors.

                      As far as townships (near to Baner) are concerned, there are:- BR, Megapolis & to some extent Ekta Worldsville (what is the status of this project?), but being in primary stages, it doesn't make it livable right now, nor would it do so for next atleast 5-8 years. Except for Magarpatta, no township is worth. Look at Amanora. For end use, many would prefer MP City than Amanora due to completion & that's the problem with townships. The best thing is to have home & office both in suburbs, though it may not be possible for all.
                      If you are happy, you are successful.

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