5 Reasons Why You Should Buy A Second Home
If you are planning to make fresh investments, buying a second home could prove to be your best bet. We all know that the advantages of investing in property are huge.
Here is why you should buy a second home:
Putting your money in fixed deposits, equities, mutual funds or gold could be a good idea. But, if you are planning a bigger investment, a second home should be the choice. Market trends show investing in real estate would help you earn better returns than any other asset class.
There are tax benefits on buying a second home. In case of a second home, you get tax benefit on the interest payment on your home loan.
A second home is a good investment option if you plan to gift yourself a retirement home. In case you are living in a city away from your hometown and wish to settle at your native place after retirement, buying a second home in your hometown could be a wise decision. Otherwise, a second home could be a fixed source of income for you after retirement if you put it on rent.
Another source of income that you can generate from your second home is by buying the property at a vacation spot. You can invest in a property in hill stations or near beach areas to generate regular income through rent. Another good part about such investment is being the owner of the property, you can anytime visit the house on vacations to relax with your family and friends.
If you have properties in two different cities, you can consider shifting from one city to another any time you want. Sometimes a change of place is all you need, right?