Usually, second homes or farmhouse investment is funded by a group of investors who buy them for capital gains from real estate investors. Though Indians have been investing in second homes for quite a while, people are now turning their attention to something that provides more personal interest, such as a holiday home, which allows them to enjoy a weekend break at their owned property in the comfort of nature. Also, these properties offer the possibility of renting them out and gaining income from the farmhouse.
Homestays during holidays, nowadays, have become a lucrative business.
Who would have thought it would be possible to make money from your very own farmhouse investment. Farmhouses are the hot favorites today for a lot of people because of the extra earning that one can receive.
Tourists enjoying privacy, basking in luxury, and having a break that doesn’t take you away from the comforts of living at home are searching for holiday homes that are seeing phenomenal growth across countries.
Holiday homes are generally personal properties that people rent out to use as accommodation when on holiday.
Living in Farm House has become a recent trend in India. For more reasons than one, urbanites have gradually been investing in farmland and farmland farther from cities.
Yet first, what is a FarmHouse, exactly? Constructed in the middle of a field, it is a big house, usually with a landscaped garden around it. The farmhouse is also known as a country home. Farm Houses are generally away from the urban residences. Farmhouse owners usually use their farmhouse as their exclusive private retreat when they want to overcome their boredom and need to take a break from the hustle and bustle of city life. It follows that farmhouses architecturally don’t inherently say rustic.
They can be built like anything you want. You can opt to give your farmhouse a contemporary architecture and also get the interiors done as per the modern conveniences of your choosing.
Holiday Homes: A Nascent Entry That Is Revolutionizing Tourism, Making Farmhouse Investment Is A Great Idea!
From the early 2000s, holiday homes slowly conquered the hospitality market, beginning with a small ‘bed and breakfast’ accommodation. Today’s new idea not only contributes significantly to tourism alongside taking care of the environment but also upholds the local history and values.
With the scope of the internet growing day and night and a multitude of players entering the bandwagon, holiday homes are already the latest buzzword for visitors searching for a glorious break in their chosen lodging.
The worldwide boom in holiday homes has seen unexpected growth. Further, it has also been successful in carving out a niche for its own in the massive hospitality industry. Nonetheless, other factors substantiated by some of the facts below will help us paint a clearer picture of the homestay scenario in the tourism industry:
Demand For Alternative Accommodations
Tourists redefine their definition of vacation by searching for vacation homes suitable for all their needs. If it’s business or fun, as there are plenty of holiday homes to choose from, visitors are no longer happy with stereotyped accommodation that hotels offer.
One study conducted by one of the rental companies found that if holiday homes were not a choice for accommodation, more than 52 percent of visitors would choose to miss the vacation to the area.
Extra Income For The Locals | A Good Reason For Farmhouse Investment
One of the increasing changes in the tourism industry’s tectonic plates brought by rising holiday homes has played a significant role in boosting the farmhouse investment in India. One can observe many homes converting to holiday homes in many of the tourism hotspots with limited effort integrating large rewards.
It is estimated that the global homestay market is worth $15 billion and experiences an upward development curve. The number of holiday homes in India has grown from 17 to 1,663 on a year-on-year growth according to industry reports.
The Advent Of The Internet
Holiday homes are on the rise, with the internet playing a significant role in peer-to-peer lending and providing entrepreneurs with a massive platform. With the aid of the internet, more advanced searches are possible for users who can select from among the best-selected listings according to their preferences.
A survey depicted that if people have lived in holiday homes for the past five years, then they would prefer a holiday home twice as much as the luxurious and conventional hotels. Research also says it’s primarily the segment of people in the 25-35 age group that use the holiday homes, sector customers.
Preference For Privacy By Tourists Make Farmhouse Investment A Good Idea!
For the most part, it is the security that holiday homes draw visitors over any hotel. Home-stays are becoming the first choice, from backpackers to large families. As per the American Hotel and Lodging Association, around 81 percent of the holiday home revenue generally comes from the whole unit rentals, where the owner is not even present.
According to a survey taken by HTA, the number of visitors staying in hotels has drastically dropped by 6% as compared to 2000, whereas the number of tourists in holiday homes has increased by 23%.
Affordable With Value For Money
One of the main reasons for the change to holiday homes is not only the comforts and benefits but also the pricing factor. Tourists usually prefer accommodation at affordable prices and are considering homes a great place to splurge on luxury compared to most city hotels.
The point can be substantiated by a 2015 report that notes that the average nightly income rate from holiday homes was $170, which is well below hotels where the average daily rate was $244 (around 43 percent higher than the cost of holiday homes).
And It’s Just The First Lap Of The Journey
To say that homestays have already affected the hospitality industry will be an overstatement. It’s just the reverse for other experts and researchers as they go on to say that this is just the beginning of holiday homes where they only find their footing.
The holiday rental industry appears to be in its first step as data shows that only 11 percent of visitors use vacation homes while the rest are not even aware of their presence. A study conducted in India reports that holiday homes consist of only 5 percent nationally compared to the market share of hotels and resorts in the country, which is around 67 percent.
Here’s Why NO Denying That Hotels Are Worth Ditching For Holiday Homes
Below are the most convincing reasons as to why holiday homes are considered as so good at attracting visitors as compared to a stay in one of these traditional hotels:
- They let you mingle with the locals and enjoy a holiday by jumping into their shoes.
- The vacation homes are perfect for saving some bucks because they are very economical in terms of the value they offer.
- There’s no room for any sort of isolation for solo backpackers since there are local families who then become your new friends.
- They are the best places to try out the native cuisine, which is prepared with secret family recipes that have been passed down over generations most authentically.
- With holiday homes, one can also fulfill their vision of staying in a yacht or a luxury beachfront villa.
- Holiday homes give people the full freedom to live with only a few amenities attached as per their wishes.
- Farmhouses are an ideal place for families to celebrate a holiday together.
- Holiday homes are favorites among couples searching for serenity and relaxation together for a perfect romantic period.
- There are also exclusive deals and offers in store for the discount lovers to catch on holiday homes.
- Also, vacation homes are perfect for spicing up your holiday recipe with tons of local flavor and love.
Holiday homes have captivated the world with their beauty, and have in their sights the future of tourism. Do we need to say more?
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The demand for luxury homes was increasing; more and more city buyers are opting for vacation homes.
The idea of going on a long, enjoyable holiday is a must to get an escape from that workload, worldly life. Nonetheless, you can find it quite difficult to schedule an extended holiday due to a variety of factors. The trend of designing a lovely holiday home on the outskirts but not far from the city is rising and becoming increasingly popular.
Farmhouses A Perfect Getaway!
Indians have been increasingly aware over the last few years of the need to maintain a harmonious work-life balance. The young are all about living life to the fullest, from taking sabbaticals to making small and extended travel plans. The phenomenon is also evident from the fact that the penetration of holiday homes is growing. A general rise in awareness, availability of affordable travel plans, and growth in disposable income led to many families now opting to engage in leisure activities. The young Indians in the late 80s or early 90s are far crying from their counterparts today.
More often than not, the family getting there gets engaged in the arduous process of sweeping up months of dust to make the place livable. In such a situation, some developers sell the property for year-long trouble-free maintenance to ensure that the house is ready for use.
Additionally, when not in service, these homes give an attractive return on investment. Many holiday homes are built as fully-serviced gated communities that have all creature comforts that make it much simpler for people who want to remove the usually attached challenges to such a purchase altogether.
In recent years farmhouses have also been used for industrial purposes. People invest in making beautiful big farmhouses and let them rent on many occasions such as weddings, corporate events, etc.
It is a new way to raise sales and get a return on investment. People feel that investing in rural and farmland is not only advantageous because it offers you a place to chill and rest during your holiday, but also because the land there costs less than the urban area.
Usually, farmhouses come with large blocks of fertile land attached to them. You get to indulge in the luxury of room in and around a farmhouse; you literally can not afford to offer it to the city residents. No wonder, for those who build or purchase one, a farmhouse acts as a second house or weekend getaway.
All cautious developers and end-users are mindful of the rewards of investing in a farm home. At relatively lower costs, you get farmland in rural areas. And they too come with simple headlines. No wonder, the lifestyle-conscious and invest-savvy parts of India enjoy farmhouses like never before if you consider that your farmhouse should only be used as your home away from home or private getaway.
What is the value of farmhouse investments? A farm-houses inherent worth never goes down. At some point in time, you can still dispose of parts of your farmland, because the demand for farmland continues to increase. After all, supply begins to decline gradually.
No wonder, today peasant house communities can also be seen growing up across the country. They are suburban enclaves that are combined with sustainable agricultural areas within them. For the reasons mentioned above, the farmhouse lifestyle is becoming popular with the luxury class and discerning segments of people.
An increasing number of people are persuaded of the power of Nature to heal us with a disease that we suffer.
Agriculture is the cornerstone of the Indian economy, and it is one of the new trends for revolutionizing the travel industry in India. Buoyed by the increasing popularity of homes in India, farms are blooming throughout the country (essentially a homestay on a farm). Thus, farmhouses deliver an authentic and engaging rural living experience, in the delightfully fresh country air.