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Follow on Google News | Experts suggest it is a healthy time to own a 2nd homeHome buyers should be clear about the purpose of investing in the 2nd home
By: PR Professionals "This is an ideal time for buyers to invest in a second home as the market prices are low and will only increase in the coming time. A second home is ideal for investment purposes, as it generates rental income; it may also be set up as a holiday home for the buyer. Second homes are an excellent source of income for retirees as well," Vineet Relia, MD of SARE Homes, says Experts believe that if a person is buying a second home, it is an asset which should be bought with prudence and purpose should be clear whether a person is buying to rent it out or make an additional investment with a long- term horizon in mind. Well, many believe that the introduction of RERA has also brought in the positive impact on a sector and it is also responsible for changing landscapes of the sector. "For those planning to buy a second home as an income-generating asset or for capital gains, the market is attractive when considered from a long-term perspective. For this, buyers should sort out their investment plans and put their finances in order. In the contemporary era, an affordable house is the best option a homebuyer can think of buying currently," Ssumit Berry, MD of BDI Group, said. "Overall, the time is favourable for buying a second home as realty has picked up pace after demonetization, RERA, and GST. There is a surge in demand for ready-to-move- To clear out the unsold stock developers are also giving discounts and freebies to which buyers are taking the advantages of it and buying a second home. This ultimately is increasing the overall sale. With the improved real estate market coupled up with Government reforms are attracting home buyers to a buy second home. End
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