Looking to buy a vacation home? Besides using a home loan EMI calculator to estimate your monthly payments, estate planning is essential. The golden rule of real estate is that location is key. Pre-selecting your locations can help you start your financial planning necessary to buy property like applying for home loans and the like. Here are five places to help you narrow down your search for a holiday home.
Located in the Nilgiris and popular for its lush panoramic view, Ooty is an idyllic place for a holiday home. You get the greenery and favorable climate of a hill station as well as traditional tea estates with an abounding tourism industry. Ooty has also become a popular place for holiday homeowners. It has had several real estate projects completed in recent years and has turned into a hotspot of sorts for property owners.
Jaipur, a wellspring of Indian heritage and local handicrafts, is recently seeing a lot of economic growth. Property prices within the city are in an upward trendline. Purchasing a holiday home here is likely to provide attractive returns due to experiencing capital appreciation over time. For those considering a home loan, going for a property that will appreciate in value over time gives you the future income to pay off the home loan and other liabilities.
When it comes to the ideal location for a vacation home, real estate agents typically recommend buying one 4 to 5 hours from your home. If you reside in Mumbai, buying a holiday home in Lonavala is ideal. The serenity of nature abounds in Lonavala with its mountainous homestays and winding roads. Being a tourism hotspot makes it the perfect weekend getaway. Capital appreciation is also likely considering the amount of urban development Lonawala has seen in recent years. Thus, you can avail a home loan to purchase your dream home in Lonavala and consider it a good financial decision.
Goa has been a long time favorite among Indians as a vacation spot. From trips with friends to family holidays, everyone enjoys the beaches and sunny skies offered by Goa. The colorful churches, hippie markets, seaside activities add to the fun factor that makes visiting Goa regularly hard to resist. Buying a holiday home here would probably be among the best ways to save on hotel prices, especially if you plan to regularly visit the place.
Nainital and its adjoining areas — namely, Mukteshwar, Bhowali, Bhimtal, Sataal, and Ramgarh — are witnessing the completion of several development projects, both large-scale and small. Nainital is a well-connected hill station both by road and rail, making it ideal to commute to. The scenic beauty is just one attractive aspect of the location. During peak season, the area is crawling with tourists. Buying a property here that can be used as a homestay can become a great source of revenue while serving as a vacation home for whenever you and your family want to visit.
The best vacation homes offer something special to buyers- be it a sea view, living in the hills, or owning a dock on a lake. India offers ample opportunity to buy a holiday home.