There are a number of reasons why people would want to have a second home and it might be because they want somewhere to go to every year when it is vacation time, or they might want to make an investment that will provide them with a nest egg when it comes to retirement. Whatever your reasons, it is always a good idea to invest in property because over the past 50 years, it has only risen in value. If it is your dream to be able to retire early at the age of 50 years old, then buying a property now will help to make that a reality. There is potential to be able to rent out your second home when you’re not using it and this will help to pay for the mortgage. Depending on the location where you will buy your second home, the demand for rental properties may be really high and you might be able to charge quite a lot of money when someone wants to rent it. In all likelihood, the money that you make from the rental charges will more than cover the payments on the property.
–Thailand – Many people are looking towards Thailand when they’re thinking about buying a second home, but they might wonder about where to buy a villa on Koh Samui or another island. The wonderful thing is that they are all so beautiful and whatever place you choose to buy your second holiday home, it will be a good decision nonetheless. There are many benefits of buying a second property and we will explore some of them here today. If you would like to learn about other places where you could buy a second home, there are websites to help you. Phuket is the premier resort town in the south of Thailand, where many foreigners live in retirement and with a great climate and colourful culture, Thailand is a firm favourite for retired expats. Of course, there are other areas in Thailand that are equally as attractive, such as the Eastern seaboard and Chiang Mai, which is a colourful city in the north of the country.
– Additional income – If you buy a property in a place such as Koh Samui, then it is almost guaranteed that you will be able to rent the property all year round. This is a very popular place and one which holiday makers visit on a very regular basis. It offers beautiful beaches, excellent shopping and golf courses to die for. It is very likely that the money that you get for the rental will more than cover the money that you need to pay off your mortgage. In many cases, there will be a little bit of extra cash that you can spend on the property to make it more valuable. The best solution is to hire a good property management company that will take care of every aspect, including building repairs and even sourcing tenants. Of course, they charge fees for what they do, but if you are a busy person with little free time, then the property management company can handle everything on your behalf.
– Vacation when you want – It takes a lot of the pressure off when booking a holiday, when you know that you already have a property waiting for you at the final destination. This means that you can head off for a week or two away at your second home, and as long as you let the estate agent know that you’re coming, they will make sure that the property is empty for the duration. When choosing where you want to buy your second home, make sure that it is in a location that you would like to spend your retirement years in. It may be that you don’t want to sell the property on your retirement and you just want to live a life of luxury. For additional assistance on having a second home, please have a look here.
Sound Business Investment – When you buy a second home in a good location, you can expect the value of the property to rise and by renting the home out when you are not using it will provide you with additional income. This will be a long-term investment that your children will inherit and that will ensure they have a secure financial future and they can bequeath the property to their children. Land prices will never drop, as there is a finite amount of land, so buying land is always a good investment.
This is going to be a real investment in your future and if everything works out like you hoped it would, then you can look forward to an early retirement.