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Holiday homes can make a safe investment opportunity providing capital gains and rentals.
The Gujarati dream has undergone a fair amount of change over the last few years. Sometime after cars and a house became a regular part of even the lowest income earner’s life, it became fashionable to buy a second home -a weekend home.
These are the cottages on the outskirts, farmhouses amidst the greens. There is, of course, an alternative to letting the cottage moulder during the down time. One can rent it out to others looking to enjoy some time away from work. However, the rental income from such a house is not consistent compared with regular properties since the peak tourist season lasts only for 12-15 weeks in a year.
So, if somebody is investing purely to generate rental income from one’s holiday house, one may end up struggling to find tenants in the non-tourist season. While the rental income during tourist season can be quite high, one will have to evaluate if it’s sufficient to cover the cost for the entire year. In addition to being a holiday retreat, holiday homes can also make an interesting investment opportunity providing capital gains. Further, at present, apartments are being taken over by stand-alone properties, bungalows and row houses in group housing.
Besides businessmen, professionals, CEOs, corporate executives and NRIs, developers target buyers who have a home in the city and want to buy the second.
Dipika Rathi, Times Property, The Times of India, Ahmedabad