Properties in Chennai

5 Reasons Why You Should Be Buying a Second Home

Buying A Second Home
Written by Team Urban Tree

 

Like all the things in life, your youth would pass away in the distant future. And when those days pass by, you would want to have enough savings to carry on the normal course of life. This is why, every professional out there today, is busy in investing for the future. They are looking for lucrative avenues to invest in. The end goal for all these investments remains a dream, a dream of a great post-retirement life. This is where our proposition fits ideally. If you are looking to invest in an avenue that would earn you high ROI then nothing can be better than real estate investment. The turmoil of the real estate sector in India has settled down significantly after the pro real estate GST bill. And today, real estate purchases are up again. And they are moving in the positive direction. In India, no other investment gives you better returns than owning a piece of real estate in a high prospect locality. But dry words are nothing, and we understand that. This is why we would provide you with some great reasons to invest in your second home. And here they come.

Reason #1: You can afford it now!

You are young and have the capability to work hard. You can put in all those extra hours to earn money. It is the perfect stage of your life to cut corners and make some savings each month. Your stable income also holds you in good stead to get bank loans for property purchase. Things cannot be better than this. It is the perfect time of your life to think about investing in your second home. Your first home might have secured your future to an extent, but the second home purchase gives you that extra cushion of security in life!

Reason #2: Short-term downs, but long-term appreciation

Okay, so the real estate market has its ups and downs. But which investment does not carry this risk (apart from the really safe and low return plans)? You have to take a certain amount of risk in life to end up on the winning side. When you consider other investment plans with high returns, real estate investment would be the safest option! Let us give you an example, suppose you have bought a property in an underdeveloped part of town (at awesomely low rates!) but the town will always undergo development in the future and your property could benefit from that. So, your investment sees multifold appreciation.

Reason #3: Make your retirement life comfortable

A second home purchase is always a great retirement plan to have. During your professional days, you may use the second home for recreational purposes. But it becomes a vital revenue generation mechanism only once you retire. Without the normal salaried income, you have to stay prepared to meet a huge monetary deficiency, and the second home gives this financial independence. With the rental rates across all major cities in India, plummeting upwards, you can have a good monthly income to live with comfort during those post-retirement days. You may even sell off the property for a huge profit.

Reason #4: The Business Motive

Indians are travelling more extensively than they ever did. The summer vacations are today invariably met by travel plans to the hill stations. You can use this travel love of your fellow countrymen to get high returns from the second home purchase. If you have bought a property near a tourist hotspot, then you could easily turn it into a homestay. Properties that are bought in the tourist hubs need to placed nearby all the action, and if you have one such property then there will be endless guests queuing up for reservation. Just think how much money you can make each year with this new business scope!

Reason #5: Save on your Taxes

Each fiscal year brings with it a daunting task and you are left wondering: How do I save taxes this year? Well, the best way to save on the taxes is to invest in your second home. Property purchases come with handsome tax waivers. While you have the property to yourself, you are also saving money that would otherwise go waste. This is the great benefit of investing in real estate. It is a win-win situation for all the professionals.

Apart from the monetary benefits, your second home also presents a wide range of recreational scope. A second home in an idyllic setting that can help you refuel your senses away from the busy lifestyle, noise, and pollution that is so typical in the city life.

The stability observed in the real estate sector over the past few months, alongside the above-mentioned benefits, makes the second home purchase a great financial decision. So, when are you investing?

About the author

Team Urban Tree

Urban Tree are the creators of magnificent homes in Chennai. Urban Tree is committed to creating world-class homes featuring innovative new styles that are meticulously integrated into every aspect of modern day living.

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