Pros and Cons of Increasing Trend of Buying Second Home

 Second Home is  a home used only at certain times of the year.

Increased disposable income coupled with high internet availability have resulted in an increase in second home ownership. These homes are used for spending weekends or holidays in hill stations.Some people own or rent farm houses in rural areas. It gives a good getaway from the grind of daily life. Spending some time in a scenic home is a great stress reliever.

The increase in second home ownership has bought some insecurity by locals in some areas. An increase in the number of second homes in an area can bring both benefits and problems.

Benefits:

  • provides a trade for local trades such as builders, plumbers, etc.
  • increased flow of tourists
  • existing homeowners have got an increase in the value of their homes
  • old properties in need of repair have been restored
  • tourists do bring in money to the area

Problems:

  • house prices increase due to increased demand
  • the phenomenon sometimes increases urban sprawl
  • some gentrification / improvements/modification carried out by second home owners are not in keeping the environmental norms. These modifications also sometimes alter the local character that is precious to the hill stations.

This phenomenon is worldwide and is catching up in India too

High-speed internet  availability at almost every place has also contributed to the phenomenon as now one can be in touch with his or her work and always connect from virtually anywhere on the globe


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About Rashid Faridi

I am Rashid Aziz Faridi ,Writer, Teacher and a Voracious Reader.
This entry was posted in Cities, Development, India, Internet, opinions, Rural, Urban Studies. Bookmark the permalink.

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