Have you bought a vacation home at a hill station but hardly have time for vacation? This story is not only yours but of the many ‘wanderers’ who are tangled in a busy life and want to take a serene retreat at a hill station every now and then. But much to their disappointment, these second homes stay vacant for most of the year. It does not make sense to leave such a profitable investment lie unused. So, what are the options?
The easiest way is to let out your property on rent throughout the year and get a hefty amount sitting at home. You can also recover the loan amount through the rental returns. To make your property more appealing and attractive for the prospective tenants, follow these simple tips.
If you have still not invested in a second home but are thinking to do so, we suggest you to choose the location wisely. The mantra is to find a place that attracts tourists for most of the year like Ooty, Mount Abu and Munnar. These places remain tourist friendly throughout the year and your rental yields will never go down. Once you decide the city, the next job is to find the right area within the city. For this, you must do a little research. Get in touch with local real estate brokers and get acquainted with the locale. Follow our step by step guide to buying a vacation home and make the right choice. [Read more…]