Why Second Homes Are Increasingly in Demand in the Post-COVID World
A second home is often called a vacation or getaway home. Usually located in a touristy place, far away from the chaos of metro cities, it’s truly a home away from home. And such homes are witnessing a surge in demand, especially in the post-pandemic years.
Why? Let’s find out.
Home Is Where Safety Is
During the pandemic, everyone realised that there couldn’t be a safer haven than one’s own home. Hence, when planning a trip, a second home unquestionably becomes the preferred choice for accommodation. Because it comes with the subtle advantages of a private residence, replacing the public nature of a hotel or a resort room.
Travel Takes the Hot Seat
Restricted movement and more than a year of being confined to one city have had its direct impact on the tourism industry. Today, people are travelling like there’s no tomorrow, indirectly impacting the second home market. With more destinations in the hills and the woods opening up, the demand for a second home at such places is rising.
Go Domestic, Go Slow
Today, more and more people are preferring to travel within the country, and choosing slow travel, as relaxation and rejuvenation have become the top priorities for many high-income individuals in the post-pandemic days. This has resulted in a direct demand for a second home, which combines the comforts and conveniences of one’s own home with the thrills of a far-off locale.
The pandemic has taught us the value of our homes, the value of our loved ones. No wonder, the importance of having a work-life balance is being felt and realised all the more now. Owning a second home, in a serene and tranquil place away from the urban cacophony, fits that demand for striking a balance between working hard and spending quality time with loved ones.
Seat of Productivity
With work-from-home and hybrid work routines becoming the norm in the post-COVID world, young professionals are often finding it much more productive and refreshing to opt for occasional remote working. In such instances, owning a second home in the lap of nature is proving quite convenient.
Cutting the Cost, Attracting Revenue
Owning a second home is proving good for one’s financial health. Travel budgets are dropping to a great extent with second homes cutting the high costs of hotel rooms and resorts. On the other hand, following the models of vacation rental companies such as Airbnb, second home owners are also opening up to the opportunities of monetising their apartments for like-minded travellers. Win-win, all the way!
A Wise Investment
Since the pandemic, the entire world has been witnessing a lot of economic turmoil. Investment decisions are getting tougher to make. In such times, a second home comes with the double benefits of owning a real estate, and enjoying a healthy income by renting it out. It is only natural that the demand for such second homes in our country is continuously surging, turning it into an aspirational investment that comes with the promise of a happier today and a better tomorrow.