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Can an average Indian professional possibly own a 2nd home today?

Can an average Indian professional possibly own a 2nd home today?

Can an average Indian professional possibly own a 2nd home today?

Lifestyle and investment consideration are the primary reasons for purchase of a second home. Owning a second home makes good financial sense because of the appreciation of vacation residential property and tax benefits that come with second home ownership. Ownership of second home is also gaining popularity because people want to have a vacation home and feel a bit of ownership over their favorite vacation spot. Sometimes, the ownership of second home also comes in when people inherit a home or want to build assets for their next generation.

Wanting a second home is different from having the means to afford the same; www.makaan.com asked the people whether in the present property rates an average Indian professional can own a second home. Surprisingly, 40% of the poll takers said that they can own a second home; however, the majority of them, 55% said that it is not possible and affordable; owning one home is in itself is a major task and decision.

The doubt that is there in the minds of many is whether in a country like India, where a huge number of people are homeless, is it ethical for a few to own a second home? On the contrary, it is expected that second home ownership would be as common in the future as two cars are today for most households in the metros. Investment in second home today will definitely be viewed as a wise decision in the future.

Buying a home is one of the most significant financial investments that one ever makes; therefore, it is only advisable to do a proper market research and survey prior to finalizing anything. For more of such poll reports and to cast your vote in a poll, visit: http://makaaniq.makaan.com/ .

Last Updated: Fri Jun 07 2013

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@@Fri Jul 05 2019 13:15:19