Is Owning a House A Luxury or A Necessity In Today's Time?

Is Owning a House A Luxury or A Necessity In Today's Time?

Is Owning a House A Luxury or A Necessity In Today's Time?

It's hard to define housing in the modern times. If housing is a necessity, it should meet basic needs. Take the example of the common man. He spends all his savings to buy a house. While doing so he makes sure that the house meets his requirements in terms of space, budget, area, locality, decor, etc. 

 Things are a bit different when we talk about those seeking high-end luxury. The class-conscious buyer does not perceive housing to be a matter of necessity. For them, a house that fulfills just the basic needs is not enough; their homes must put to show their status. 

Also Read: What Are Ultra-Luxury And Mid-Luxury Projects?

Increasingly, the distinction between necessity and luxury housing is getting blurry. What many considered luxury in the past has become a necessity now. Housing is no different. A car and an L.E.D. might have been considered a luxury a few years back, today they are a necessity. This is true for most consumables. From clothes to mobile phones and high-end accessories. Housing too has followed this change in consumer tastes and preferences.

Earlier, owning a luxury villa in a high-class society with expensive furniture, classy fixtures, swimming pool, big garden area, etc, was an unseen, one-of-a-kind occurance. Now, it is commonplace. As the per capita income rises in India, many are investing in similar properties.

Now, a motion sensor lighting system, an energy monitoring system, a gas leakage detection alarm and a theft or a fire detection system are considered by most as a necessity. Despite them coming at a price tag of a luxury commodity. They are in fact necessities that can be termed as luxury items; after all, you will be paying a good amount of money for having these facilities at home. You also have to keep in mind that it is not just the price that would keep you off the beaten path. Price tags are the most conventional method to define luxury. Today, it is much more than that. You will have to find out for yourself how you add to the luxury of your home.

Also Read: Why Your House Worth Rs 2 Crore Is Luxury No More

Last Updated: Fri Mar 03 2017

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