Buying a Second Home? How About Considering the Maintenance Aspect?
Aug 25, 2018 Real Estate News
Buying a dream home is always an exciting experience. And if you are planning to buy your second home, what could be more joyous than this experience? Purchasing a property always come in a package of other aspects and maintenance is one of them. The point is to think what is the purpose of this second home.
Are you buying your holiday home where you can spend a quality weekend or make short breaks with you near and dears? Well, the idea is worthwhile. However, how do you plan to maintain the home when you are not there, or you do not visit the place for a long due to busy schedules of day-to-day activities? Most of the time we do not consider the fact before buying that the second home needs maintenance such as mowing grass, dusting, plumbing or leakages if any and so on. Besides maintenance, an unoccupied property is an invitation to a burglar. Consequently, expenses of burglar alarm also need to be considered. So, it is not just another investment but a responsibility.
Properties in hill stations and near the sea could be more expensive and so is the property tax. If your property is in another city, you may not be able to give immediate attention. This may lead to a bigger issue.
Are you buying your holiday home where you can spend a quality weekend or make short breaks with you near and dears? Well, the idea is worthwhile. However, how do you plan to maintain the home when you are not there, or you do not visit the place for a long due to busy schedules of day-to-day activities? Most of the time we do not consider the fact before buying that the second home needs maintenance such as mowing grass, dusting, plumbing or leakages if any and so on. Besides maintenance, an unoccupied property is an invitation to a burglar. Consequently, expenses of burglar alarm also need to be considered. So, it is not just another investment but a responsibility.
Properties in hill stations and near the sea could be more expensive and so is the property tax. If your property is in another city, you may not be able to give immediate attention. This may lead to a bigger issue.
Safeguard Your Second Home Investment
Consider the following before making an investment:
- Consider buying a property in the integrated township. In such properties, facilities will be in a status of ready to use and security will be already in place.
- In case you opt for a Bungalow or a villa, some agencies take up maintenance activities. For other properties, builders are associating with such agencies who provide maintenance facilities.
- Consider all the overhead costs that you may have to bear.
- Hire a caretaker to maintain the property.
- Have minimal electric items and furniture in the property so that it is easy to maintain.
- If you of renting the property, then consider to do the groundwork first and see what all responsibilities you may have to take up.
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