A second home is a beautiful option cradled within the lap of nature away from the fast paced city life. A peaceful getaway that is your own. The idea of a second or weekend home has been existing for many decades now, commonly known to be restricted to the affluent. Perhaps it can be considered as a place which rejuvenates the mind when in need to get away from a stressful lifestyle.
Difference Between First Home & Second Home:
For everyday living
To spend time with family, or as an investment to earn ROI.
Close to the business or work location and within the city
Mostly away from the city or in a chemical free zone.
If opting for investment then location should offer good appreciation.
Depends on the market rate but always lower than the cost of first home properties within the city.
Features of Second Home:
Investing in a second home is among the safest investment approach for your hard-earned money. If you have enough financial resources you can invest in a second home and expect good appreciation in upcoming years.
If you don’t have sufficient resources and want to invest in the second home then you can avail loan.
- Prepare for Retirement:
If there are few years left for your retirement it can be looked at a wonderful vacation opportunity and allows you to establish community ties that make for a smooth transition later.
- Financial Edge:
Vacation homes are usually less expensive than their urban counterparts and you may get better one-BHK in Shahapur for the budgeted amount. Markets like Shahapur, Igatpuri, Karjat, & Panvel have yet to discover their potential, which implies they will provide better appreciation in the years ahead. If one has the resources then the option can be considered.