How COVID-19 is Going to Disrupt the Interior Design Industry

How COVID-19 is Going to Disrupt the Interior Design Industry

COVID-19 has disrupted every industry and the economy as we once knew no longer exists.

These changes are being reflected in the interior designing industry as well.

While analysing the industry’s altered course and some recent research, we have deduced that the interior design industry will have to adapt and assume a new course of action in the post COVID world.

Let’s see how the pandemic has affected the industry and how the experts are coping with the changes effectively.

Mindful Design and Comfortable Spaces

The pandemic has shut the front doors and has forced people to stay indoors to ensure a safe and healthy environment. 

People are finding new ways to adapt to the shifting circumstances as a result of the massive turn of events.

Work from home is the new normal, and remote learning is the new education system.

Many people are now trying to modify their home spaces creatively to increase productivity even when they are learning and working.

The attachment to the living spaces has grown tremendously, and there is a growing demand for dedicated workspaces, learning spaces and entertainment nooks.

The interior designers receive requirements that involve exclusively designed multiple workspaces and remote learning spaces in their homes.

An open and breezy corner with a lot of light and tranquillity is yet another element in demand.

The time has come to engage mindful and comfy designs, as people spend a lot more time at their homes than before.

Virus-Proofing the Home

The virus is brilliant and is evolving to keep itself alive for a more extended period. 

People are worried about their safety, and the need of using antibacterial materials where the virus cannot survive for longer is becoming popular.

Metals such as copper, brass and bronze can be used in homes as they possess natural antimicrobial properties.

Quartz, a natural stone, is used to make countertops and is anti-scratch and highly sanitary.

Certain woods like oaks, bamboo and cork will stop the bacteria from growing.

However, disinfecting the house with sanitisers is one of the methods to keep the viruses away.

Dedicated Relaxing Spaces

As the homes have become the new weekend getaways, parks, theatres and many more, people expect their homes to meet all these needs at once.

Higher demand for dedicated spaces to relax and indulge in some sort of entertainment at home is prevailing.

As people are adopting nesting, the home has become more important than ever.

Our living spaces influence our physical and mental wellbeing greatly.

Many transform their balconies and backyards into open living rooms where they can chill out and have fun with the family during weekends. 

Or even using their once unused bedroom living space to relax.

Redecorating Spaces

Yet another fact that the interior design industry witnessed is a vast number of people redecorating their spaces to create a more mindful, calm and happy living space.

Once, people didn’t have time to bother about every nook and corner of their houses. 

But now, as the home is the space where they spent most of their time, people might find it unattractive or tiring.

A change of scene will help a lot.

So redecorating homes with colours that instil comfort and reassurance will settle the unsettled triggered by the pandemic.

Bringing in a touch of nature by placing indoor plants also adds up to the serenity of living spaces, and people these days prefer green more.

Influence of Technology

Homes are becoming smarter day by day.

Technology has upgraded our homes beyond imagination, and these days people are relying greatly on technology.

Right from the voice-controlled security system to the motion sensor lighting system, technology assists us in most of our routines.

Alexa, Siri, Google Home and many more personal and home assistants are available in the market today.

Choosing the right system for your home automation might save you a lot of time.

The world will be a different place once the corona recedes. The disruptions it caused in various industries might still prevail.

The interior design industry is evolving daily, and the pandemic catalysed the process by a decade. 

The future is unpredictable and in that lies its beauty.

Let’s imagine beautiful and healthy homes and make them a reality.

Buying Your First Apartment Complex: All you need to know

Buying Your First Apartment Complex: All you need to know

Ready to take the big step yet?

Investing in your first apartment is one of the most important decisions you’ll ever make.

However, the whole thing can be a daunting choice if you do not have proper guidance or insight into what you really want.

Here is the complete guide on everything you need to know to buy your first apartment, including how to choose the location, and tips for buying an apartment.

Read on and let’s get it demystified.

Pros of investing in an apartment building

Is buying an apartment a sound investment? 

Maybe this is the first question popping up in your mind while planning to purchase your first apartment.

Therefore, to find out if owning an apartment is right for you, it is imperative to review the risks and rewards of investing in the same.

  • High-income potential: Investing in an apartment building is an intelligent way to diversify your investment portfolio and proliferate your earnings with only incremental added cost. Also, the vacancy risk is less compared to single-family homes.
  • Tax benefits: Buying an apartment complex on loan let you enjoy multiple tax deductions and incentives, including substantial mortgage interest, depreciation deductions, capital gain etc.
  • Supplementary income: Although the most substantial source of income for an apartment complex is rent payments from tenants, apartment owners can also earn ancillary income from laundry machines, vending machines, additional parking spaces, or pet fees. 
  • Appreciation of asset value: Multifamily rental properties are long term appreciating assets that increase in value over time and build wealth. You can improve the net operating income (NOI) of apartment complexes by increasing rental rates, managing the asset effectively and adding amenities to your property. 
  • Investment partnerships or syndicates: Apartment complexes are an excellent investment for groups. You can buy larger and better multifamily properties and maximise your potential profits by partnering with one or more investors.

How to choose a perfect location?

Geographical location is a primary factor to take into account for apartment investment. 

Choose a location with easy access to transport hubs, centres for employment and a great neighbourhood. 

Also, consider the following socio-economic factors while buying your first apartment complex; the location must be the acme of these diverse factors.

  • Employment rates
  • Rental yield
  • Economic data
  • Industry growth
  • Population growth
  • Resale value
  • Occupancy rates
  • Crime and safety data 

Tips for buying an apartment building

  • Find the right commercial real estate broker: You need to get a real estate agent with extensive experience dealing with investors, access to several sellers that sell quality apartment properties, and better knowledge of real estate investment fundamentals.
  • Pick the type of apartment building: Based on your budget and current real estate trends, determine the apartment type (walk-up, low-rise, mid-rise, high-rise, etc.) that offer the best ROI for your budget.
  • Hunt for multifamily properties: Visit multiple apartment complexes and locate the ideal one that matches your preferences. A real estate agent with a track record of apartment sales can be a great help in the search process.
  • Evaluate the profit potential: By estimating the financials like occupancy rate, cost per unit, gross operating income, net operating income, expenses etc., you will get a clear understanding of possible profitability in the long run.
  • Determine the right lender: When choosing a loan to finance your apartment complex, talk to different lenders and compare the rates they offer. Then, find the right lender by poring over all the options.

Summary

Investing in apartments by understanding the process involved is one of the best investment strategies for investors who want a reliable and steady income stream. 

With due diligence, choose the right apartment complex, make an offer, finance, and close on your first apartment complex.

6 Reasons Why You Should Move Into An Apartment Instead of a House

6 Reasons Why You Should Move Into An Apartment Instead of a House

There is no shortage of living spaces in the market, yet choosing the right one for you and your family can be really confusing at times. 

How can you select the right living space – a space you will create memories, enjoy calm and quiet evenings with your love and host parties? 

There are certain fact checks to be done before coming to the final decision or before choosing between an apartment and a house. 

Most people still hold on to the belief that apartments deprive you of your freedom, compromises security and privacy. 

We would like to shine some light into certain facts which will give a better understanding about the cons of apartment living. 

In this blog we’ve listed the best six reasons to choose an apartment over a house as your happy living space. 

Let’s dive right in. 

Ready-to-move-in

Convenience is in the air!

Apartments come with a bundle of amenities and conveniences. 

No more long waits to get your home project done, no more ardent interior designing tasks, no more worries about the maintenance. 

Apartments give you the luxury of moving in right away.

Furnished apartments are available for those who would like it that way. 

Save your time all while enjoying the easy move-ins and hassle-free shifting process.

Subtle Lifestyle

It’s all about how you want to live your lives. 

If you wish to live in a community who understands your limits and understands who you are, apartment living might be the best choice.

Everyone deserves a private life while social life cannot be completely avoided (except when there is a deadly pandemic on the roll). 

Cleaning the yard and maintaining the garden might not be everyone’s calling.

By choosing an apartment, you are saving the weekend all for yourself.

You can spend quality time with your family, kids or relax by the pool.

Or even chase your passion and explore new things. 

There is nothing to keep you from having your time all for yourselves and leading a subtle, peaceful lifestyle. 

Easy Maintenance

One of the main reasons for moving into an apartment is the ease of maintenance. 

Apartments come with an inhouse maintenance team and whenever something goes south just pick up the phone and give the authorities a call.

No more tiresome self-maintenance rituals or long wait for the professional to come and do the work for you.

Maintenance will be the last thing you have to worry about when you are living in an apartment.

Amicable Community

Although the concept of community may occur in the vicinity of a home, the opportunities for this are generally greater in an apartment life. 

You choose the community you want your kids to grow up in.

You get to choose your living standards and the society in which you live.

Having a happy and healthy relationship with your flatmates can nurture your social life.

Apartments offer chances for interaction and community building by organising small events and parties.

These are great chances to socialise and to get to know your neighbours. 

Safety Matters

Living in an apartment guarantees you safety and security. 

In an apartment where multiple people live as a community, safety measures are more strict and intact. 

Advanced security features like 24*7 CCTV coverage, multiple guarded entry points, full time security guards, and people living nearby makes apartments even more safe and secure.

Modern Amenities

An apartment can give you unlimited access to sleek and modern amenities like fitness centres, swimming pools, clubhouses, party spaces, etc.

The community’s recreation activities and a group of similar-minded people will offer you an excellent opportunity to socialise and build your connections. 

Keep in mind these simple facts before choosing your living space.

Remember every space has its own pros and cons.

Carefully analyse what you want and what each space offers and go for it when you are ready. 

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