The new age homebuyers are on a lookout for more. While putting together a home is an experience that is cherished, young homebuyers are seeking a more refined and professional solution to their home decor woes. Availing the expertise of expensive interior designers is not always an option. However, budget constraints haven't stopped millennial homebuyers from choosing an option that is perhaps a lot chicer. This is where digital designers come in to play.
The home improvement industry is a $20-25 billion segment that heavily banks on the modern home decor needs of the new age homebuyer. From scouting out a good interior designer to coordinating with the contractor, these virtual design consultants offer to handle everything. Ventures like Livspace, Hipcouch and HomeLane offer services that take care of these logistics.
The more attractive alternative to shoppers is the 'ready to install' room plans. These are curated looks that are customised according to your needs and then carted straight into your home, all without you breaking a sweat. Many of these consultants also have actual brick and mortar stores, where customers can swing by, before making a purchase. Livspace's design studio in Mumbai houses a virtual reality room, which allows them to visualize the final look, before committing.
Many entrepreneurs who have ventured into this industry say that it runs purely on the homebuyer's aspirations of a modern home, without raking up a huge bill. Departing from the traditional Indian home decor, these homebuyers crave designs that are more global in taste. The trend to design homes tastefully on a budget is not one that is new. But having an entire industry dedicated to catering to these needs is positive growth.