You can be anyone- businessman, corporate tycoon or a retiree seeking to escape the hustle and bustle of daily existence, there are vacation homes available to meet a wide range of budgets. Owning a second home, regardless of the location is not for everyone. Buying a vacation home, you need to ask yourself a few questions, the most important being that if you can afford it and if it is a good investment?
Decide whether a second Home makes financial sense-don’t regret later about the ongoing expenses. Also you have to realize that you will not be living there 24/7 that it is not your primary home.
Location- Determine your ideal location, whether you want to live near the sea (coastal) or a hill station, location is very important. Buying a home in a badly chosen location won’t serve anyone’s purpose; an investor can’t resell or rent it. Do a little market research and self-study. [Read more…]