Why Do People Buy A Second Home In Goa?

By Author: Dynamix Group
Total Articles: 23
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It’s a well-respected fact that many people in society work long, hard hours with a stunning, sunny beach in mind. There’s a distant vision in all of us to work until the day we don’t have to anymore. When we wake up at a leisurely hour, step out of our homes and take in the bracing sea breeze. To retire to the careless luxury of sandy toes and salty air. To live out our days in the quintessential paradise. A beach.

It’s also a well-recognised truth that we live in a fast paced world. Working and activity keeps us young and our minds agile. We recognise the hunger to do things and we thrive as we keep ourselves moving on our own terms.

Therein lies the question- in today’s fast paced, active environment, are people ever really ready to retire?

Upon conferring with a number of folk who are more than deserving of their retirement, the general consensus was that those of the retirement age do not want to retire completely, they want the benefits of both worlds. They want the sandy paradise. But they aren’t willing to retire to get it. They’ll take it now.

If the Pandemic has taught us anything, ...
... it is how far technology has come in allowing managers and subordinates to work remotely without letting distance get in the way. This in turn has seen a considerable number of relocations as young professionals and seasoned business people move away from the metropolitan buzz to one of India’s favourite beachy getaways; acquiring their own seaside apartments in Goa that they can now call home.

Following this shift in mindset, the real estate industry has seen a significant number of developers establish themselves in the state with launches of villas in Goa, or, compact studios in Goa, or even luxurious 2 bed residences in Goa. The gamut of options present in the state allows for professionals of varying financial capabilities to plant their feet in the sand and purchase a second home to which they can get away whenever the opportunity presents itself, without giving up their foundation in the metropolitan of their chosen profession. This change in trend of being able to operate from the location of your choice has reintroduced the discussion of ‘second homes’.

Millennials, who have long since worked tooth and nail to amass the financial security for day to day life, and recognised the utility in renting their home rather than purchasing it outright, are presented with another opportunity. They are able to invest in an asset, such as a home or a second home, in a frequently visited holiday destination, at a considerably more comfortable price point and reap the benefits having such a home affords them. They are able to take that spur of the moment trip to Goa without the added pressure of affordable accommodation, they can supplement their income by utilising the asset and renting it out to other budding professionals and youngsters relocating to Goa, providing them with added financial security, they can view it as an appreciating asset to be sold in the future, or their own piece of paradise when they tire of the city rush- the prospect of owning that ‘second home’ has never been more dazzling.

Knowing the standard set across the country, the home buyer also knows exactly what the project is expected to offer, making sure the developer does not rely solely on the stunning