Top tips for a perfect second home
Buying a second home is not something so easy, nor should it be taken lightly. More and more people want to choose to do so, but in most cases, they do not know how to do it, and if they do, they do not achieve it fully or in the best way.
There are several aspects to consider beforehand, such as, for example, whether this second home is really necessary, whether it is worth the money that is going to be spent on it, as well as the type of residence to choose.
Do I really need a second home?
This is the first question a person should ask themselves before entering a second property negotiation. It is not a minor one, far from it. In fact, for many people, acquiring a new home is a status symbol, i.e. a way of showing that one has been successful in life.
So, in this vein, for many, it is the default route, even if they have never delved too deeply into it.
In addition to thinking about whether you really need a second home, you also have to consider the question of why you want one. Assuming that the reason is for a holiday, the price has to be weighed up.
This depends on a number of factors. For example, the holiday period is, in total, two months per year, i.e. 60 continuous days. Over 20 years that would be 1,200 days.
On the other hand, the price of a property does not fall below 150,000 euros, which means that, during those 20 years, each night will cost 125 euros (the price per night of a 5-star hotel). This means, literally, a contradiction in terms, because with that money you could go on holiday and stay with all the comforts of the case, and even for a lower price than the purchase of that second home.
Moreover, it should not be forgotten that the second home has other additional expenses for insurance, maintenance, etc.
Is a second home financially profitable?
However, despite the above, it is also true that the numbers can change. For example, all holidays and weekends are multiplied by at least 2, which reduces the price per night. In this way, the property in question will be priced below the above-mentioned price.
On the other hand, it should be kept in mind that the purchase of a second home is a medium and long-term investment. The purchase of a second home increases the family’s wealth. In addition, at the time of death, the children will be able to inherit.
Therefore, it cannot be seen only as an asset for usufruct and consumption. It should be seen as an investment. In this sense, it can be the smartest.
What type of second home is the best?
If you are sure that you need a second home, you should consider a series of factors in order to find the best and most suitable one according to your specific requirements.
First, it should be a place that suits your taste and budget. For example, mountain lovers will not buy an expensive beach house, of course. Secondly and lastly, the best thing is that the construction has the optimal characteristics for the type of life you want to lead there. That is to say, if it will be enjoyed as a family with children, alone or as a couple.