Young buyers choose ROI over holiday potential in second homes
Your first home is where you live full-time—it is not an investment that you would earn from in the short term. With the Indian middle class and upper-middle class making more than ever before, second homes have continued to be a rage even during the pandemic. In many ways, the pandemic has pushed people to invest in a second home away from the city’s concrete jungle.
Location of second homes
Whether you are hoping to holiday at your second home or rent it out, the property’s location is of utmost importance. Trends dictate that Indians invest in second homes at places like Goa, Igatpuri, Manali, Darjeeling, Shimla, Ranikhet, Ratnagiri, Kovalam, Munnar, Coorg, and Ooty. Wherever you may be living in India, a second home in a locale like Goa has much to offer you. With its clean beaches, sunny weather, and hospitality par excellence, Goa provides much more than a second home; it gives you the chance to own your dream.
What are Indians looking for?
When buying a second home, statistics show that people from metropolitan cities like Mumbai and Pune are first in line to invest in a sylvan retreat away from home. However, the primary purpose behind buying a second home is not to use the property for periodic holidays—this seems to be an added advantage that makes the deal more attractive. What people are actually looking for is a solid return on investment (ROI).
