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The Perks of Owning More Than One Home

Indeed, a home is something magical for all of us. For those who are fond of being in the world of fantasy, they tend to buy more than one house. Why not?  Besides the mystical feeling, there are many perks of owning multiple properties.

Since we started talking about magic and all, let us start with the reasons that feel close to your heart.

 

1. Be Embraced by the Warmth of Your Loved Ones.

 

Filipinos are known for being family-oriented.

As time goes by, the young ones start to leave their nest, and soon, start a family. In time, they would have to live far from their parents; perhaps it is because of their work, or other things.

Because of the close family knit, ofcourse it is not surprising that most of us would want to have a home near our parents. Not only to our parents, but to our other family members as well.

For an instance, Azula is very close to her aunt, who she calls Mama Dra., in Zambales. She would always stay there during her vacation when she was a student.

After a few years, Azula has already become a lawyer who stays in Manila for her work. She decided to buy a house in Zambales in order to be close to her aunt.

During her free time, she would go to her home in Zambales to bond not only with her aunt, but with her uncle, Papa Doc, and baby cousin as well.

The pandemic has also reminded us of the significance of staying close to the people we love.

Moreover, Azula can generate cash flow from her property. If the second property of hers is a multi family home, she can rent a room. While another room can be self occupied by herself.

Home prices are getting high, and some would prefer to rent.

 

One  of the  considerations you should take note of when picking a second house to buy is if it is close to the people who you cherish, the ones you deem very important to you.

 

This allows you to see your loved ones more easily, just like how Azula purchased a house in Zambales for her aunt.

Furthermore, it also gives you a private and dedicated space you can enjoy. Having your own house as well gives you the freedom you want, you may invite other people, such as your friends.

Want to have a party? No worries!

If Azula’s aunt decides to have a reunion party, and some of the family members want to sleep over but there is no more space in her aunt’s house, they may sleep in Azula’s house.

All in all, the relationship of one’s family will be strengthened when the houses are near each other.

 

2. Enjoy a Relaxing Vacation in your own Home.

A splendid morning view of a beach in San Antonio, Zambales.

 

Who would not want a relaxing vacation, right?

Most people would book hotels for their vacations; but the thing with accommodation establishments is that there are a lot of things that you have to consider.

One of these things is the price, the price is not fixed. There would be a time that the hotel would raise its prices.

Another thing you have to consider is the additional payments, such as the extra charge per person.

One of the children forgot their blanket? Additional payment.

Want to bring food from outside the hotel? Corkage fee.

There would also be times that there will be a mix-up in their system that often leads to overbooking, and they would have to cancel your booking stay.

 

Unlike if you have your own vacation home, all of these worries will go away– just like magic, don’t you say?

Plus, you are more free to move in your own vacation house than a hotel, which has numerous restrictions.

 

3. Turn it into an AirBnb or Vista Leasing for Profit.

Ultimately, if you and your family are fond of going to your vacation home to unwind, there is a huge possibility that paying visitors would as well.

Make sure that the vacation house you purchased is visually appealing and one of a kind.

If you think it is just simple, then do not worry because you can always decorate and improve the house.

Here’s a tip: make it pet-friendly and for sure fur parents would be really happy! You may use plants as decorations as well in order to make the plantitas happy as well.

Don’t forget the security deposit in the down payment as well! Keep in mind that there are customers who flake, especially if no down payments were given.

 

For sure, the rental income will help you in the monthly mortgage payment, if you have any mortgage loan.

 

4. As time goes by, the value of Real Estate increases.

When you spend money on automobiles or devices, their value usually begins to diminish the moment you buy them.

For example, if you bought a Toyota Avanza 1.3 J MT, you could never sell it to someone else for the same price you bought it.

In the case of real estate, however, this does not apply.

Actually, it is the other way around. The value of real estate rises over the years.

Did you know that the real estate properties in the Philippines benefit from a gain in value, particularly in urban areas with a growing population?

As long as your property is in the right location, expect the value of your investment to rise in the coming years.

 

5.Planning for your retirement

Retirement may be a few years (or decades) away, but purchasing house properties, including vacation houses, now opens up new possibilities for you.

Do you wish to spend your golden years at the beach, in the mountains, or by the river?

Is it your desire to invite your children and grandchildren for holidays as well as other special visits in a cottage?

As you approach retirement, the money you need to pay on your vacation home mortgage will decrease or be paid off entirely.

Meanwhile, with the correct property management company in charge, and the right mortgage lenders, your second house will be carefully cared for until the time comes for you to retire there.

 

One of the best houses for your retirement is Vista Alabang.

Vista Alabang | Luxury House and Lot in Daang Hari | Brittany Corporation

 

Choosing a luxury home is like selecting the ideal life for you. And that ideal life of yours lie within the luxurious community of Vista Alabang.

Vista Alabang is a magnificent 600-hectare estate, which is located in the south of Manila. The magnificent community combines the grandeur of old-world Italy with the sophisticated flair of modern Europe.

 

Keep in mind that owning multiple properties is not an easy task.

Yes, you have rental properties that generate rental property income. But you need to remember that you need to pay property taxes.

Make sure that if you have several properties purchases from from mortgage loan, you can pay the mortgage payments. Take note of the mortgage interest as well.

 

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