Let’s get straight to the point and look at various advantages/benefits that buying a second home can offer. These benefits are given below.

1.     Holiday home

Generally, people tend to buy a second home somewhere that has a good location. This location can be near a sea, mountain, beach, farms, etc. when you buy a second home, you can turn it into a holiday home to visit with your family and it is only going to save you the money you would generally spend at expensive hotels, plus your own home will give you a lot more privacy.

2.     Extra income

A second home is a great source of extra income as you’ll most probably give it in rent as you’re it is going to be vacant most of the time anyway. You can make use of that funds anywhere, and it never hurts to make some extra bucks. Plus, rents are not cheap, and eventually, they’re only going upward.

3.     A great investment

Buying real estate is an investment whose rate of interest mostly only goes up. What makes an investment great and safe is the ROI (rate of interest), and when you buy a second home in a decent location, the chances of rising in prices are almost 100%.

4.     Tax benefits

There are some tax benefits that you can get when you buy a second home. For example, in India, Section 80C provides tax savings on the principal amount, while Section 24B provides tax deductions on the home loan interest rates paid to service the loan.

Conclusion

Buying a second home can be a safe and convenient investment that one can use in leisure time as well. If you’re looking to buy second homes near Mumbai, I would highly recommend you to give shimmer pearls ocean a thought. They offer great sea-facing second homes with a lot of luxuries and amenities.

I hope you found what you were looking for in this blog, all the best in finding a great second home for you.