Do you recall since when we started believing that building or constructing a dream home is something only Builders can do it? Most likely we become so busy in search of earning that we almost molded our mindset and started buying homes at whatever prices they were sold.
Well, I'm an ordinary IT person (like many in Pune) having worked in Mumbai few years then shifted to Pune 2-3 yrs back and like many of you missed housing bus of RE pre-boom best time. I reseached a lot on this whole mentality of owning a home that I don't keep any regrets but at the same time don't feel like I should buy from builders with hefty price. This took a lot of research, homework and studying the market. I traveled around 5000 km in and around Pune in 1 1/2 yrs. I biked from Bhugaon to Wagholi of east and Chakan to Ambegaon on south...couldn't find a nice home within my budget(well I will come to my budget soon) I also tried purchasing a plot of land but decided to wait further due to overall state of economy after meltdown last year. I met at least 200 agents and individual sellers, looked personally same number of plots around 2008. But you guessed right...timing was NOT right and I was learning a lot of lessons!
And as we see finally India Housing bubble finally started bursting. It is yet to be fully exposed but it will, it certainly will.
Anyways, I don't want to start endless discussion of housing bubble but wants to execute a fundamental right to build-and-own a Dream Home in Pune. As our forefathers and prevous generations did build their own homes, in hometown I wonder why can't we?
Our (fellow young IT generation and few NRIs) slight impatience and easy money (or loans?) has given builders-banks nexus a golden opportunity to milk middles class salaries Cow for their lifetime (15-20 yrs) And we middle class just watched increasing home prices 200-300% helplessly! Gaonwallas (for their land), Banks (for lifetime loans) and Builders (for their guts) has become millionaires and how come suddenly we forget that building a home is like building a castle? Time will only tell how long this nexus can swim against real sentiments and market forces.
Anyways guys, lets forget about what we missed in past and take a lesson. The point here I wanted to make is...WE CAN BUILD OUR OWN DREAM HOME TOGETHER!
And when I say build means I mean it..we can form a legal society first (yes thats possible), choose our location, purchase a land with hard negotiations, choose plans to best suit / fit our needs, best in class quality fittings, enough space to our children's and last but not least joy of doing all this and sense of accomplishment! There would be different size, space to each of you depending upon contributions (yes you read correctly, it will not be EMI or huge profit to builder)
So if you are among many of us, feel free to contact us and we will invite you to join beutifull process.
Our earlier generations did so well as they were known to think better financially than us. Don't just keep criticizing builder-politicians-banks nexus and take a step forward. Is not a rocket science, its just building your abode. If you are still not convinced or on fences , then you free to pay huge profits to builders for than tiny so called budget home somewhere in outskirts of city. Yes, thats what you can own with limited budget if decided to leave up to builders.
I will be sharing with you my experience of land searching, some land deals internal tricks over the next few months. Lots to come on this blog..stay tuned...
- Anil
