Investing in Real Estate by purchasing a second home is one of the cleverest movements you can do at the current period. This is not because second homes are cheaper than the prime residencies but due to the fact that a vacation home can be a mixed – used property.
In this article you will find how a second home can be your favourite destination for your vacations and a profitable investment at the same time.
Your personal paradise
By purchasing a vacation home, like a villa in a Greek Ionian Island could be the ideal and lifetime solution for your vacations. The acquisition of a second home demands an important amount of money at first but finally it excuses you from the vacation expenses for as long as you desire. Also, it offers you the desired hospitality as it has all those characteristics that you choose for yourself and your beloved ones. Owning a vacation home means that you don’t have to make plans every year for your holidays, you don’t have to spend your money for residency in hotels, for eating out and for travel agencies. You can create your own private paradise, in the location you love most and with all the facilities that you want for your ideal holidays. Also, in this way you ensure a comfortable and always hospitable home for any time of the year. You don’t have to worry for making early reservations as your own home will always be at your disposal! Finally, by purchasing a second home you ensure a potential residency for the years of your retirement and it is often helpful to buy it when you are financially active in order to enjoy it in those late years without the anxiety for its cost.
A source of income
A vacation home can also work as an important source of income as you can rent it for long or shorter periods and use this money for your financial needs. Most people are not able to be away from their main home and away from work more than two months in a year. This means that a second home will be out of use for most of time and this gives you the opportunity to lease it for long periods or to rent it even per night or week. This is not something simple of course, but with the right strategy and with the right guidance of a professional you can ensure an important amount of money in this way. This means that even if you have used a loan for the purchase at first, you can use the money from the rent in order to pay it off. This is a unique possibility that a second home has to offer and you cannot find it in other investing movements in real estate.
Suppose that you buy a villa in Lefkada, which is a famous and picturesque island of Greece and it is also a wished destination of many wealthy Europeans during the half part of the year, from spring to autumn. It is as if you kill two birds with one stone. You have a lovely home in an idyllic place which fits exactly to your needs and taste and you can use it during your holiday and you can also rent it to other visitors of the island or even to a local resident for the time you are away. The only thing that you have to pay attention to, is the tenants that you will choose in order to ensure a good conciliation.
A second home is an ideal proposal for someone who wants to involve in Real Estate investments, as it is the only property that you can easily use it in two different ways. A vacation home provides you with an ideal residency for your holidays and also can be used as a property that you rent and you earn money.