Weekend home: Choose correct location for sufficient resale value
Are you confused over various options to get away on the weekend? Why not get one of your own instead? Investing in a weekend home can provide you with a retreat which will be your own always. But what really is the concept of a weekend home? And how popular is it?
Says Raminder Grover, CEO, Homebay Residential, Jones Lang LaSalle Meghraj, A weekend home would differ from a vacation home by virtue of being close enough to the primary place of residence to reach within a few hours, yet far enough and in more convivial surroundings to provide a break from the oppression of city life. Buyers from the more affluent class are the ones currently looking at weekend home options.
Agrees Rohit Gera, executive director of Pune-based Gera Properties who feels that people buy these either as an investment or to upgrade to a larger home, with better facilities, amenities or a better location. Most weekend homes are in the same city, but probably in a new upcoming suburb which offer them better infrastructure and amenities. If they buy in some other city, it will be due to the exposure they have had to that place before. They would have either studied, lived or worked there.
More : economictimes.indiatimes.com