A Second home is not the primary residence but is used as a vacation home. This home can be rented out, or it is considered an investment property. These homes are generally connected to natural environments and the concept of nature.
We are sure you can’t wait to join the pleasant world of second homeowners. In the event that you are considering purchasing a second home, you are not the only one. There is a growing level of the Indian populace that possesses more than one house.
The best spot for your second home ought to be your ideal destination for an end of the week escape, a yearly vacation or your ultimate retirement arrangement. It logically should have rental potential, too, for some additional income or just because you’d rather not let a home sit empty most of the time.
It is evaluated by real estate specialists that the second-home property showcase is developing at 10%-12% every year. Furthermore, an ever-increasing number of people appear to purchase a home for holiday purposes.
Of all the second-home markets in India. There are some reasonable winners that outcast other destinations with regards to areas that will give you the best shot of making a benefit, either as a rental income in the near future or for long term asset appreciation. There is a demand for second homes in places that are well connected to bustling metros like Mumbai and Delhi.
Some popular second homes destinations in India:
The best location of Second Home is ideally a place where you could drive down in 2 / 2.5 hours to enjoy yourself as well as has good rental potential when not in use. A place within 100 km from a major city is the best location.
Days are gone when owning a second home was linked to selected business class people. People are now actively looking at stepping out of concrete jungles and be close to nature where they could make hands dirty in growing some vegetables, enjoy as much as natural elements as possible, recharge them over the weekend and be ready to get into the routine of a high-pressure job. All this is possible only if your second home is ACCESSIBLE.
There are various dimensions to owning a second home. We review them soon….