Buying a country house outside the city is not an elusive dream. But many times the question is: Is it worth investing in a country house?
Apart from the obvious reasons (eg a second home or a place to stay on holiday), a holiday home can prove to be a good investment for your future.
The 3 reasons it is worth getting a holiday home:
1. Lease, long or short
While tourism in Greece is on the rise, the opportunities you have to rent your holiday home are multiplying.
And we are not only referring to tourists from abroad. In recent years, a trend has also been noticed by Greeks, who prefer to rent a house in an area outside the city to spend their summer holidays (and not only) instead of a hotel.
In the case of renting, you have options here as well. You can rent it for a short time, on platforms like AirBnb, with guests staying in the house for a short time (eg a few days or weeks) and changing them frequently.
However, you can rent your holiday home, especially if due to circumstances or needs you no longer use it, with a long-term lease. The trend of recent years for residents of foreign countries to rent holiday homes in beautiful areas of Greece is also significant.
In many cases, they prefer long-term leases, especially if they are older couples or retirees, who wish to spend a large part of their time in Greece because of the good climate.
And don't forget the "digital nomads" who are a new "golden" market for real estate. It concerns professionals from abroad who can work remotely, from any part of the world, all year round. Greek stocks are rising in this area as well so think about it.
2. Sale
You may make the most of your vacation home when you're young, but when you get older your needs may change and you may want to sell it.
Owning a second home is a good investment, which can bring you a significant profit if you ever decide to sell it.
Possibly, you don't need such a big holiday home anymore or you want to change the area, as the one it is in has become quite touristy.
Especially in the latter case, you can profit significantly, as the designation of an area as a tourist significantly increases the demand and this in turn increases the prices that buyers are available to acquire the holiday home.
Factors that dramatically increase the attractiveness of a country house are the comforts and the good condition of the house (no one wants to spend the summer repairing or renovating the house) but also the proximity to the sea (if we are talking about a summer destination ).
Conversely, for a vacation home in a winter destination, the proximity to a forest or other places of natural beauty, such as rivers, together with the view that the house offers, greatly increases the chances of selling it at a good price and making a profit.
3. Future use
In addition to the financial investment and the profit that can be made by operating or selling it, a holiday home gives you great flexibility to meet future needs.
For example, when you retire and/or the children grow up, you can convert the holiday home into a new permanent home.
Also, you can bequeath it to your children or other loved ones and they can turn it into a permanent residence.
For the younger and professionally active, a holiday home can also function as a temporary workplace. The pandemic has amply demonstrated that in most professions teleworking can now be implemented without any loss in productivity.
Digital conveniences have made this quite viable (eg networks for high-speed internet). Who knows, you might change careers in the near future and want to work remotely from your vacation home for several months of the year.
In any case, before deciding on the investment, keep in mind that a property has costs. In addition to financing and acquisition costs, there are maintenance costs and taxes. Consider these factors as well before reaching a decision.
