The second home lifestyle is taking the nation by storm. With more people than ever before having spare cash floating around, many are considering the idea of having a second home that they can use for holidays, weekends or just to escape the city.
The concept of a second home has been around for a long time now. But people are discovering that achieving this lifestyle is actually a lot easier than they imagined. So long as you don’t have too many outgoings and a reasonable income, you can usually afford to put down a mortgage on a second home.
There are all sorts of ways that having a bolthole in the country changes your life. Let’s take a look at some of them now.
You Can Get Away From The City
The first benefit of owning a bolthole in the country is that it provides you with an opportunity to get away from the city. Nobody wants to spend their lives living in a built up area, especially in the middle of a pandemic. Urban areas can be fun, but a lot of people would like a country retreat – somewhere they can go to just get away from it all and enjoy some serenity.
There are agencies, like Enness global, who are facilitating this kind of house buying. We’ve seen a flood of people looking for second homes in the middle of nowhere as people seek serenity and look to escape lockdowns and other regulations.
You Can Operate A Holiday Home Seasonally
A second home can also be a substantial source of income. Instead of putting your money into a savings account, having another property in another part of the country lets you earn real interest on your assets. You just buy the property or take out a mortgage, and then rent it out to holidaymakers who are often willing to pay a lot more per night than regular tenants.
You Can use It A Short-Term Investment
Investing in second homes doesn’t have to be a long-term commitment. If you decide that you don’t want to own a second home after a few months, you can always sell it on and recover your cash to plough into something else. There are no hard and fast rules in the second home property market.
Some people do invest in second home properties long-term, but it’s usually for lifestyle and investment reasons. If having a second home is just something you want because you like exploring the countryside, then it is worth keeping for leisure alone.
Other times, though, you could find that you’re onto a real money spinner because property values in the local area are on a long-term upward trend. In this environment, you can make money from both rising asset prices and by charging higher rents as prices in the local area also go up.
Having a second home, therefore, offers all kinds of benefits that the mainstream media don’t talk about. If you’re looking for a way to put your savings to good use, then it is well worth the investment.