Planning a weekend getaway? Why not plan one to your weekend home? Read on...
If you come home as ` happy
as you leave, you have had a good vacation'Unknown This aptly summarises
what you should look for in a weekend home a good vacation! This
thought has proven to be a catalyst for the inception of the concept of
weekend homes.
We all are living at a time where life runs on deadlines and
stealing even some moments for yourself or your loved ones sometimes
seem impossible. Living in a fastpaced city like Mumbai, makes it even
more difficult to gain a sense of repose for a day. Hence, a great
escape from a monotonous life to a leisurely spaced-out home with a
picturesque view and new-age amenities, is what defines today's weekend
homes. Factors such as a rise in disposable incomes and an aspiration to
live a hassle-free life, have fuelled the demand
for this market significantly.More importantly, the stressful life that
people lead today, is making a vacation home a necessity than just a
fad. According to a JLL report, the vacation home market in India is
growing at a steady pace of 10-12 per cent per annum, which proves that
people are more open to taking the plunge and buying their vacation
abode to break loose from the unvarying routine.
However, one should keep in mind certain factors before taking a leap of faith to invest in one:
1 Location is key: End-users should take into account the location of
the property and ensure excellent returns and its safe quotient for
personal use. Hence, the best option would be to evaluate options, which
are in close proximity to your current location. Anything between a
two-three hour drive is preferred than travelling endlessly for a
vacation to escape the hustle-bustle of life.
2 Look at new-age amenities: Weekend homes have become synonymous with
luxury living, an experience, which will help you rejuvenate and take
care of your overall well-being. It's all about having multiple options
for recreation such as a club house with a spa, restaurants, crèche,
pools and jacuzzi, sports arenas catering to various kinds of sports
enthusiasts, etc.
3 Developer's credibility: Whether it's a weekend home or just a second
home, it always merits to invest with a credible developer who has a
proven track-record of de
livering quality projects on time. One should look at the company's
financial stability, past record of delivery, kinds of products offered,
post sales services, regulatory approvals, which can account for their
credibility.
4 Value for money: Real estate as an asset, involves lesser risks
compared to other asset classes since there will always be scope for
capital appreciation. Thus, not only will you own a `resort' like home,
but also be sure of an investment that will pay you off well in the
future.
5 A `larger than life' lifestyle experience: There is a particular kind
of lifestyle we all live and desire to live. While one may look for a
place of solitude encompassed with nature's bounty, others might seek a
resort kind of a set-up. One might also contemplate between buying a
bungalow, condo or simply a service apartment.So, make sure that your
home is compatible with your needs.
While there will be more factors that an individual can consider
pertaining to their desire, assessing market conditions should not be
forgotten. For instance, currently, with a fall in home loan rates and
favourable market conditions for consumers in light of RERA, the dream
of owning a property can fall within people's budgets. Hence, why wait?
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