Did you know that according to experts the second home segment contributes 30 percent of the total residential realty market and is actually providing developers with a breather that has been bogged down by the ongoing slowdown?
Buying a second home for personal use can be a much more complete investment, as the benefits are beyond financial. Having access to a holiday home can be seen as a lifestyle change. Your second home becomes your own personal getaway, where you can avoid work stress in [a more idyllic environment.
In this article, I’m going to discuss the main reasons and advantages of buying a second home.
Some people buy them as holiday houses. Many others buy them as investment properties and rent them out. Some very wealthy individuals buy homes in different places around the world and travel between them. This is indeed a sensible thing, as these properties can generally appreciate and be cheaper than taxes, insurance, and maintenance rents.
While first-time homebuyers are delaying their decisions many homeowners are going for their new vacation homes in India.
The idea of a second home is exciting. No one can object to the sight of a crowd traveling from the urban center to the peaceful places in the hills. House in the hills already seems so exciting, Right?
So, Let’s start with the reasons why you should buy a second home
We all know that investment profit in real estate or in buying properties is huge.
So, the first reason is
While all properties vary in value in the short term, holiday properties are more likely to hold their value and grow simply because they are located in popular areas with a geographically limited supply. Houses in mountains are more in demand post-Covid.
As cities become more and more crowded, beautiful homes in rural settings will become increasingly scarce — and valuable.
- Retirement strategy:
Buying a second home can be part of a sound retirement strategy. When homebuyers buy a home in the peaceful place of their choice, they can use the property for their pleasure during their working life or as an additional income generator.
When it comes time to retire, they have the option of kicking their shoes and permanently moving to their second home or even selling it and advance to another home in the same city.
In case you’re living in a city away from your hometown and wish to settle down at your native place after retirement, it will prove to be a wise decision if you buy a 2nd home
- Tax benefits
There are a number of tax considerations to make if you own a second home. You get tax benefits on the interest payment on your home loan.
- Let’s change our lifestyle. Let’s “WORK FROM MOUNTAINS”.
Do you want a change in lifestyle? Why not switch your life in the city for a life in the mountains?
In the nerve-wracking year 2020, in times of COVID 19, thanks to technology that has made it possible for many of us to work wherever we want. Why not take advantage of it and stay where you want? How about working in the mountains? Isn’t it a great impression to work in these peaceful surroundings? You can feel like you’re on a vacation every day.
A move to a less populated region is not expensive. Instead of renting your vacation home and staying in the city, you can also reverse.
One of the main advantages of this strategy is that it is easy to rent out urban homes, regardless of which time of year it is.
- Enjoy your vacations
It is very natural or perhaps the best way to use another property is for vacations. If you want to escape a city hustle, a house in the mountains might just matter. Missing that cool breeze?
Fewer cars and more trees can be so eye-pleasing. Even when you love where you are, being able to get away for a while makes it so sugary.
What are waiting for??
Are you thinking of buying a second home in Himachal Pradesh, contact us right away @ 7035703521 or email us at [email protected]