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Home Close to Office – Look for It!

10 June 2016

“Once I settle down in life, I will pursue all my hobbies” – this is a popular statement mentioned by most of us when asked about our future aspirations in life. So, how exactly do we determine ‘settling down’ in our lives? Well, for most of us living in Mumbai, it is about getting married and having kids on the personal front, as well as having a high paying job at a good company (where we can think of spending several years), along with our own home on the monetary front.

Out of the four things mentioned above, buying a house is perhaps the toughest one for many Mumbaikars, especially if you do not already have a big house, living in a joint family with your parents. And for this reason, it is perhaps, the last one that gets ticked off your checklist to lead a settled life. So, how do you go about this humongous task of searching for your ideal home in Mumbai?

A smart home buying decision would be to search for your house that is well connected with most basic amenities required by you and your family on a daily basis. More importantly, look out for a house that is very well connected to several locations in the city, including your office location. For this task, you are faced with two major challenges – one is the high price of real estate in Mumbai making it difficult to find affordable homes and secondly, the concern about high travel time to office on a regular basis (that may take a toll on your body and work-life balance in the long term).

You have to be smart and ensure that you do not comprise on any of the two major aspects – travel time to office and high cost of residential property. Hence, it helps to be smart and to do your homework well to find homes in areas that are a little far away from your office location, but are pretty well connected. This is because most offices in Mumbai are located in huge chunks in certain areas. This causes the real estate prices in those areas to rise significantly.

However, you can choose to find a house that is strategically located at a not so far off distance from your office, in areas where the property prices are quite manageable, and which can give you more value for money. Also, there are certain office locations in Mumbai which may not be ideal for living for your family, and it then makes sense to look for a house that is in a good residential area well connected with your office.

The development of the Andheri Kurla road has proved to be a boon to several office goers in Mumbai. It easily connects the suburbs of Mumbai with the central parts of this city. Clearly, employees of companies located in Andheri and even on the other side of Andheri-Kurla road, can enjoy staying in Andheri and get back to their work place in limited time every day, due to great connectivity. This road has truly emerged as a CBD.

Another example of office locations causing a shoot up in prices of nearby posh localities is the emergence of several IT giants along the Thane-Belapur belt. One needs to be smart in choosing the location of their house, if they wish to reduce their travel time to offices along this belt.

Gone are the days when Navi Mumbai area was an emerging space for real estate. It has outgrown a lot in the last few years and the real estate prices in this area have shot up quite a lot. So, instead of buying a 1BHK house in Navi Mumbai, you can get a 2BHK house in Shilphata, within the same budget. And the advantage is that Shilphata is well connected to Navi Mumbai, so you can easily have your office location at Navi Mumbai, and travel in minimal time to / from Shilphata on a regular basis.

Have you started with your search for the ideal location of your house? Well, there is never a better time than ‘Now’ to start doing it!