Is social media influencing the idea of a dream home? By Mr. Parthh K Mehta, CMD, Paradigm Realty
The omnipresence of social media is changing the way real estate is sought for, and purchased, by new generations of home-buyers. As per 2023 statistics released by Hootsuite, while nearly all buyers use the web at some point in their home buying journey, social media platforms are matching pace with listing websites in their role as search tools. But the role of social media the home-buying process begins much before and extends far beyond the actual search process. Social platforms such as Pinterest and Instagram also influence the kind of homes that are sought after and how they are decorated, as evinced by the growing popularity of the term ‘Pinterest home’.
The social tastemakers
Social media platforms such as Pinterest and Instagram are where design trends gain currency and momentum, informing the tastes and curatorial process of home-seekers. In the thriving influencer economy, digital celebrities essay an integral role in shaping the perception of properties or even in driving property trends. Numerous studies have found that digital platforms can significantly sway consumer behaviour, shaping the attributes that they believe make certain properties more appealing. That’s because more than a physical space, home-buyers are now seeking lifestyles or lifestyle attributes they resonate with, or wish to emulate.
The average age of homebuyers in the country has significantly decreased from 40 years to 28 years, as per data shared by India’s largest loan distribution network in May 2024. Another report by a global commercial real estate services & investment company found that millennials form the largest percentage (43 per cent) of contemporary home buyers and, of these, 30 per cent consider the social status associated with home ownership as a driving force guiding their purchase decision. As the ‘always on’ generation, 86 per cent of millennials use social media daily, with social influences having a palpable impact on their purchase decisions. These new age home-buyers are keen to live out the trends and aesthetic they view on social media in their own homes and are thus especially conscious about seeking a home that they can flaunt on social media. This has inspired them to look for properties that offer aesthetic corners and amenities, to complement their online persona. Trending searches that have been gaining traction with social media-loving homebuyers include:
• Majestic views: Sweeping cityscape views, which are best experienced from aesthetic balconies, sky decks or private terraces, and floor-to-ceiling windows, can go a long way towards ensuring an aesthetic feed and enhanced buyer interest.
• A touch of luxury: Spa-style bathrooms, walk-in wardrobes, open floor plans that permit wide-angle photographs add a sense of luxuriance to photographs and videos shared on social media, bringing the proud homeowner a step closer to the aspirational lifestyle they seek to project, which also adds value to their personal brand.
• Beautiful, outside in: Scenic waterbodies and pools, manicured gardens and well-designed neighbourhoods go a long way in enhancing a home-buyers quality of life, and also offer more diverse photo-ops and picture-perfect moments to be shared in ‘reel’ time.
Virtually inspired
Behind every practical, rational consideration such as square footage and layouts, home buyers are also taking into account whether their living spaces will enable them to live and share online the lifestyles they aspire to. The growing influence of social media-dominated lifestyles has affixed a ‘visibility value’ to everyday luxuries. In that, the premium-ness of a home and the amenities it holds is believed to be higher when they signal wealth and higher social status, as evinced by social media likes, views and shares. Visual content focused on specific interest areas, such as lounges and screening rooms, are driving audiences to seek out those attributes in the homes they purchase.
In addition to opulence and luxury, social media has also driven a deeper interest in conscious living, . This has inspired buyers to explore spaces that offer eco-healthy and healthful benefits such as ample daylight, balconies and terraces for fresh air, and access to green cover. Certain localities and even neighbourhoods have soared in popularity after being endorsed and favourably showcased by influential names on social platforms. The top social media-inspired trends dominating the real estate segment are:
• Designated spaces that prioritise wellness: Home-buyers are specifically seeking more spacious homes that offer them the ability to earmark spaces aligned with their interests, in the pursuit of more holistic and balanced lifestyles. These can include music rooms, meditation spaces, home libraries and personal gyms. A duplex or a triplex layout lends itself beautifully to such aspirations.
• Statement ceilings: Gone are the days when ceilings spaces were brushed over with a neat coat of paint and a few light fixtures. Modern home-buyers want to adorn their ceilings with wallpaper, panelling, beams or even statement lighting. Homes with high ceilings lend themselves optimally to such décor, without compromising on the sense of roominess.
• Green sense: The appetite for environmentally rooted spaces has been increasing exponentially, with home-buyers willing to spend a premium on homes that feature open spaces such as terraces or balconies that offer immediate access to the great outdoors – whether by way of lush views, access to fresh air and sunlight, or even the ability to design flourishing home gardens. In fact, homes such as these offer the perfect backdrop of verdant living walls, which are predicted to be among the top décor trends for this year.
The influence of social media on home-buying trends and buyers’ preferences is pervasive and undeniable. Forward-thinking real estate developers can anticipate these evolutions and be the first to tap into emerging trends. While, in many cases, these considerations are made subconsciously, a more informed and intentional approach will ensure a more seamless and delightful experience for millennial and Gen Z homebuyers.