Buying a second home as an investment

With affordable housing accessible more easily than ever before, owning a second home is no longer just an opportunity for High Net Worth people. In fact, insights demonstrate that a growing number of...

With affordable housing accessible more easily than ever before, owning a second home is no longer just an opportunity for High Net Worth people. In fact, insights demonstrate that a growing number of Indian buyers are currently preferring to purchase affordable second homes away from the hustle-bustle of urban areas.

As income levels rise, a second home becomes an investment opportunity and a lifestyle preference. For a few, it's all about getting revive at an end of the week escape, while for other people, a second home is often real estate investment. There are still other people who need one as a post-retirement plan. Not surprisingly, the weekend homes are usually situated in towns and urban areas that are a 2-3 hour drive, or even a flight and well connected from big urban cities. For instance, people living in Mumbai look for second homes around destinations like Lonavala and Khopoli.

Who is Investing?

Real Estate experts report that people in the upper-middle class and middle class are earning higher than ever and are interested in strengthening their investment potential. Easy availability of finance through various companies have changed the situation. Perhaps that is one reason why the demand for second homes is increasing. Other reason being an increasing number of NRIs investing back home, tax benefits and the growing middle class.

Earlier, buyers used to purchase the property from an investment perspective and kept the houses empty for most of the year. The return on their investment, came just when property price rises, over numerous years. However, with evolving times, many individuals have begun giving their homes on lease. While the capital value of the second home will increase in overtime, it can likewise produce income as rentals, which not only takes care of the maintenance costs but also adds to one’s savings.

The developers are likewise continually experimenting to hold the luxury quotient by adopting innovative layout and construction practices that not only provide a luxurious ambience but also enhance the financial viability of the project. Most of these affordable luxury projects are defined by pricing, area, proximity and amenities like swimming pools, clubs, Gyms, open spaces etc. Discover the joys of beautiful views, relax and unwind in complete privacy, the pleasing sounds and scents of nature.

If you truly want to engage yourself in true outback experience, think of buying a second home with a small plot of land for a vegetable garden. Owning a second home can be a rewarding experience. Kenisha Holiday Homes is a project located in Khopoli-Pali Road sprawling over acres of lush green expanses.