Q:There are several reasons for buying second home, one of them may be trying to invest in these homes second time. Some of them look for second home in order to have a tranquil lifestyle away from disturbance, followed by retirement and rental income.If the person is looking for second home in the same locality, he can avoid the middle man and arrange the room by himself to move in. Investment made in homes never fluctuates very quickly unlike any other investment like buying stocks or bonds. Tax experts say that every second home is defined as a house when it is available with all the facilities like bedroom, kitchen, bathroom, etc. Many buyers rent out their homes for earning good income.The exact tax depends on whether the second home is really used as a residence for more than 14 days.Investors are said to be riskier customers by banks since they are subjected to high interest rate. If you are spending your money and truly looking for long term investment, it may not matter a lot if sometimes there are ups and downs.Managing property to move in requires time management and also a good energy in case of minor repairs. This also includes that the owner must know all the trends and specifics for both home rental and home sale. If you are planning to give your property on rent or sale see that there are some additional values like having proximity to the nearby places such like schools, transportation, shopping area etc. Appreciation in land comes through such valuable location.Up gradation and remodeling of the home with new technologies also specializes in adding value to a home in a short period of time. If you are planning for such investment you can think of it.
Latest Answer: Hi everybody,
Different people have different mind set. Buying an independent land/floor means ultimate choice to build a house depending on one's own requirement and budget. On the other hand, a flat apartment is a redesigned, multi-floored construction. The apartment buyer has lack of freedom to change the shape and size of the construction area. But at the same time, it benefits in matters related to security, approachability and location advantages.
