A home is your spot in the sun, a place where you lay down roots and raise a family. The house you buy will have 4 doors, a few windows, walls and a ceiling, no different in Mumbai, than elsewhere in the world. However, given the fact that Mumbai is amongst the world’s priciest cities in terms of real estate there are quite a few factors to keep in mind when buying a home in the maximum city.
How flexible are you with your commute time: On an average it will take an average Mumbaikar an hour to travel between office and home. Considering that the major office zones in Mumbai are either BKC, Nariman Point, Fort and Andheri, the prime consideration one needs to have is, how flexible can one be with their commute time. Remember, that the closer your home to your office (given the aforementioned 4 areas), the more expensive it is going to be. On the other hand however, if you’re willing to stretch yourself a tad bit on travel, a whole world of opportunities opens up both in size of homes and quality of life at a slightly better price range.
Educational institutions: One of the primary considerations in choosing a home must be children’s education. So you will have to factor in things like how good are the schools in the area, the medium of instruction in these schools or the proximity to reputed schools. For instance if you have chosen Matunga as a place to look for a home, you know that Don Bosco’s is a reputed school within walking distance of wherever in the area you are. Alternatively located just before Shivaji Park is Bombay Scottish, one of the city’s premier schools and easily drivable from Matunga. This makes Matunga quite a plum residential choice on this parameter.
Healthcare: This parameter is extremely important if you have older folk in the family. Quality healthcare ought to be available to your folks within a short distance of where you live. In the case of South Mumbai for instance, Saifi, Jaslok, Bombay Hospital and Breach Candy Hospitals in addition to several government hospitals and private nursing homes are available to residents.
Quality of Life: Quality of life involves tangible and intangible things that add to the experience of living in a neighborhood. For instance clean air, peace and quiet, cleanliness and other environmental factors fall into the intangible aspect of the QoL spectrum, while accesses to quality healthcare, shopping, education, close to work etc are all more tangible aspects of the QoL spectrum. QoL is the defining consideration of where to live in Mumbai, because unfortunately certain areas in the city have a better QoL than others. This also makes them premium in terms of perception and price and will affect your budget accordingly.
Living in Mumbai is both an experience and a privilege; therefore think wisely about where you want to live in the city, because more often than not, your lifestyle and indeed your budget will be dictated by the area in which you reside.