Image by Cajie via Flickr
So I am sure quite a few of you’ll must be thinking of buying a second home. What are good locations that I would recommend for the same?
1. Goa:- This is in my opinion the best location for a Vacation home for two main reasons – the potential for income generation and secondly the number of good restaurants, amenities, flights etc. available to make getting and living here convenient.
3. Pune:- Again fantastic amenities, good nightlife, a potential for decent income through short and medium term rentals and reasonable property prices.
4. Shimla:- Very accessible from Delhi/ NCR, Good weather and decent amenities.
5. Bangalore:- Again very good weather, nice complexes and very reasonable prices on the outskirts of the city.
6. Nainital:- Again very accessible from Delhi and with decent amenities. Capability to generate income is limited but this could change in the future.
7. Kerala:- For those originally from Kerala or who could contemplate living there full time in the future.
The other two cities I would classify as evergreen cities to buy a second home:-
1. Delhi:- (try the outskirts, Gurgaon, Noida) Remarkable cultural attractions andgoa museums, all big city amenities, nightlife, resort style facilities in newer complexes. Very good potential for income generation.
2. Mumbai:- (Areas like Bandra, Andheri (West), Powai, Kandivali (E): Again very good cultural and tourist attractions, Evergreen rental income and ample things to do and places to see.
With the last two it would be advisable to set aside a budget of at least 1.0 Crore and so these are only options for the truly wealthy.