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.
2. Khandala/ Lonavala:- Ideally located for people from Bombay and very accessible given the Pune Expressway.
- Pune:- Again fantastic amenities, goodnightlife, a potential for decent income through short and medium term rentals and reasonable property prices.
- Shimla:- Very accessible from Delhi/NCR, Good weather and decent amenities.
- Bangalore:- Again very good weather, nice complexes and very reasonable prices on theoutskirts of the city.
- 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:-
- 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.
- 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.