When Rakesh bought a second home as a vacation home, he was elated with the thought of spending some quality time at his newly bought home once in a month. The environs were inviting enough for a good family time. But to his dismay, he found plenty of problems which required his immediate attention. For e.g. there was dust all over the house, some of the light bulbs were not working and son on. Thus, Rakesh decided not to ignore the maintenance aspect.
Some of the main concerns when it comes to maintenance of a second home are:
- A second home when not visited frequently often tends to get neglected and leads to many maintenance issues.
- There are chances of burglars breaking in if the property is unoccupied for a large amount of time.
- Maintenance cost may be high if the property is located far away in isolated locations such as hilly areas.
- If the second home is not visited frequently, maintenance issues often get neglected as they are not addressed immediately. This may lead to an increase in the maintenance cost.
- There are chances that leakages and seepages may go unnoticed while buying the property and subsequently, the problem may come into limelight. Therefore, it is prudent to address the issue as and when it is noticed.
It is very important to safeguard your second home investment from such maintenance costs. For that, it is always advisable to look for renowned builders and developers. If you are looking to buy a property in Mumbai, there are many builders and developers in Mumbai who offer quality luxury homes with a tie-up through facility management agencies. Such agencies help in the maintenance of projects and aid in reducing the maintenance costs.
To sum it up, before buying a second home, you need to
- Make a list of all the costs which you might have to incur.
- If you are not frequenting your second home, hire a caretaker.
- Have less number of furniture and minimum electronic items.
- If you are planning to rent it out, ensure that the rent you collect covers the maintenance costs.
If you are looking to buy a property as a second home, there are plenty of projects in Navi Mumbai, one of them being Hiranandani Fortune City in Panvel. Also, there are quite a few Hiranandani residential projects in Mumbai which one can consider as their second home investment.