With the growth of infrastructure in India, the vertical expansion of buildings is also causing pacific suffocated conditions somewhere in our way of living. Far from the hustle and bustle of urban centers, the farmhouse trend has increased in leaps and bounds amidst people.
What Is A Farmhouse?
A farmhouse is a house that serves residential purposes near the agricultural settings too. People today want to go away from the city’s hustle and bustle for a holiday. People working all year round need some refreshment and quiet place to relax, and nothing can be better than a home surrounded by gardens and farms in nature’s lap. Thus, the demand for land in remote areas is rising day after day.
Farmhouses with wide entrance halls are spread over vast acres of land and constructed in the picturesque countryside. Farmhouses nowadays cost an enormous amount to build, and two stories are often made. They are built in various ways, with a touch of rural and agricultural taste, modern to traditional according to preference. Mostly a farmhouse is constructed away from the residential place to spend some quality time with nature. Often people with a farmhouse are the ones who already have a home and put money on buying it for luxurious purposes to have a second home. Investing an enormous amount should be done correctly at a location chosen according to the individual’s preference and needs.
In modern times farmhouses have also been used for industrial purposes. People invest in making beautiful large farmhouses and let them rent on many occasions, such as weddings, corporate events, etc. It is a new way to raise income and get a return on investment. In fact, people feel that investing in rural and agricultural land is not only advantageous because it offers you a place to chill and relax during your holiday, but also because the land there costs less than urban land.
Why Do People Love To Reside In A Farmhouse?
A farmhouse is a type of house in an agricultural setting that serves a residential purpose. A well-landscaped field or garden surrounds it. It can also be known as country houses, away from one’s residential address, where one can go in the lap of nature to spend some time. The farmhouses are built from traditional to modern in a variety of ways. Yet they all have the agrarian or rural feel. Farmhouse trend has been increasing a lot these days amongst people residing in cities.
Farmhouses are spread out over a small chunk of land with large porches on the sides. We also consider designed and constructed farmhouses with one or two stories these days. Over time, as the town of Nawabs became more built up, farmhouses started to be used as second homes and weekend getaways, where there was considerable open space.
The group of people who are very noticeable in investing in a farmhouse are those who already have homes and invest because they have a second home or luxury reason, says Satish Srivastava, MD, Nilansh Group. Adding on, he says, Today, when people spend on buying a farmhouse, it is entirely by their preference and needs.
Major Cities Where The Farmhouse Trend Is On A Rise
Jaipur, the capital of India’s biggest district, Rajasthan, is one of the popular locations for buying a farmhouse. The uniqueness of this location and its historic landmark make it a destination for visitors. Many are coming out with the farmhouse projects in Jaipur being one of the most valued cities in India. A lot of projects have already been completed and are up for sale. When the demand for plots and holiday spots in Jaipur rises, the price of a country house is growing. The farmhouse is available for sale in Jaipur, with a different price range. Places are most likable on the hills or above the mountain.
Deepak Bhalla, director, Bhalla Farms Pvt Ltd, says, The idea of farmhouses is prevalent in Delhi and Punjab. It got introduced to Lucknow in the year 2000. Initially, it did not work in Lucknow, but it picked up slowly, and now farmhouses are selling like hotcakes. There is a sudden rush or boom in investments on farmhouses due to the crowded surroundings of modern urban India. Citizens choose farmhouses as a second home to experience luxury, in which they can also explore the joys of country life.
The areas protected in Lucknow as per Bhalla under the belt of farmhouses are Sitapur Road, Sultanpur Road, Rae Bareilly Road, Deva Road, and Kanpur Road.
It means that these areas are within the 50-kilometre radius from the Hazratganj city, which happens to be the central part of the town.
Despite the ever-changing patterns and market dynamics in the real estate sector, people believe in investing in areas that are cheaper relative to the urban property.
Speaking of the price bracket, Bhalla says, The price range varies according to the region. Prices on the main road are higher than the areas falling within the main road. It ranges from Rs. 300-600 per square feet on major highways such as Sitapur and Rae Bareilly Road, whereas it is Rs. 100-250 till 300 per square feet within.
The land-buying options are aimed at providing a comfortable and spacious home. Today the farmhouse trend hosts a new subculture for the aware and affluent class of people living in India.
Farmhouses are not only being used for residential purposes but are also being used for industrial purposes by some owners today. It’s the latest trend to rent it out for wedding parties, corporate events, etc.
Any day, as an investment opportunity, a farmhouse has its inherent value intact and value appreciation as lucrative as, or slightly less, land within the town. The owner has the privilege of partially disposing of a more significant chunk of farmland. It gives the farm owner versatility to maintain the necessary and dispose of excess unused ROI (Return on Investment) for better.
Is It A Good Idea To Invest In The Farmhouse Trend?
Second homes or farmhouse investments are typically financed by a consortium of investors who purchase them from real estate investors for capital gains. While Indians have been investing in second homes for quite a while, people are now turning their attention to something that provides more personal appeal, such as a vacation home, enabling them to enjoy a weekend break in the comfort of nature at their own house. Such properties also offer the possibility to rent them out and receive farmhouse income.
Who would have thought that you could make money from your very own investment in a farmhouse? Farmhouses are today’s hot favorites for many people due to the extra earnings that one can receive.
Tourists enjoying privacy, basking in luxury, and taking a break that doesn’t make you away from the comforts of living at home are searching for holiday homes that see a remarkable growth across countries.
Holiday homes are usually personal properties that people rent out while on holiday to be used as lodging.
Farmhouse living has been a recent trend in India. For more than one explanation, urbanites have been steadily moving further away from cities in farmland and farmland.
But first, what exactly is a FarmHouse? It is a large home built in the middle of a farm, usually with a landscaped garden around it. The farmhouse is also regarded as a homestay. Farmhouses are typically far from urban dwellings. Farmhouse owners generally use their farmhouse as their exclusive private refuge when they want to conquer their boredom and desire to break away from the hustle and bustle of city life. It follows that architecturally farmhouses are not necessarily rustic.
The Farmhouse Trend Is Becoming A Booming Industry In India
Starting with a small ‘bed and breakfast’ accommodation, holiday homes gradually dominated the hospitality industry from the early 2000s. The new vision of today not only contributes significantly to tourism, but it also upholds local culture and traditions.
With the reach of the Internet growing day and night and a multitude of players joining the bandwagon, vacation homes are now the new buzzword for travelers seeking a glamorous break at their preferred accommodation.
The boom in vacation homes worldwide has seen unexpected growth. Furthermore, the vast hospitality industry has also been thriving in carving out a niche for itself. Nevertheless, other considerations substantiated by some of the following facts will enable us to paint a better image of the tourism industry homestay scenario.
A Home With A Farmhouse Trend Brings In Extra Income
One of the growing shifts in the tourism industry brought about by vacation homes has played an essential role in boosting farmhouse investment in India. For many of the tourism hotspots, one can find several homes converting to holiday homes with little effort incorporating great rewards.
The farmhouse trend market is estimated to be worth $15 billion and is experiencing a curve of upward growth.
According to industry reports, the number of vacation homes in India has increased from 17 to 1,663 on a year-on-year increase.
Holiday homes are on the rise, with the internet playing an essential part in peer-to-peer lending and offering a vast forum for entrepreneurs. Through the support of the internet, more sophisticated searches are possible for users who can choose according to their preferences from among the best-selected listings.
A survey found that if people have been staying in vacation homes for the past five years, they would prefer a vacation home twice as much as luxury and traditional hotels. Research also says that it is primarily the category of the 25-35 age group that uses the holiday homes, the consumers in the industry.
Some of the critical factors for moving to holiday homes is not just the comforts and advantages but also the factor in pricing. Tourists generally prefer affordable-price accommodation and find homes a better place to splurge on luxury compared to most city hotels.
A 2015 study reveals that the average nightly profit rate from holiday homes was $170, well below the average daily price of $244 hotels.
It would be an exaggeration to say that homes have already influenced the hospitality industry. For other experts and scholars, it’s just the opposite because they tend to say that this is only the beginning of holiday homes where they find their footing only.
The holiday rental industry appears to be in its first phase as data shows that only 11 percent of visitors use holiday homes while the rest are not even aware of their presence. A survey in India revealed that holiday homes consist of just 5 percent nationally compared with the country’s market share of hotels and resorts, which is about 67 percent.
Farmhouse Trend Is A Perfect Getaway For Indians
Over the last few years, Indians have become increasingly conscious of the need to maintain a harmonious work-life balance. The young are taking sabbaticals to make small and extended travel plans, which are all about living life to the fullest. The trend is also evident from the increasing penetration of vacation homes. A general increase in awareness, availability of affordable travel plans, and increases in disposable income has led many families to opt for leisure activities now. Today the young Indians in the late 80s or early 90s weep far from their counterparts.
The family gets engaged in the complicated process of sweeping up months of dust to make the place livable more often than not. In such a case, some developers are selling the property for trouble-free maintenance over a year to ensure the house is ready for use.
However, these homes have an attractive return on investment when not in use. Most vacation homes are designed as fully-serviced gated communities that have all the comforts that make it far easier for people who want to avoid the customarily attached obstacles to such a purchase.
Farmhouses have also been used for industrial purposes in recent years. People are investing in making beautiful large farmhouses and letting them rent on several occasions, such as weddings, corporate events, etc. It’s a new way of raising revenue and having a return on investment. People believe that investing in rural and farmland is beneficial not only because it provides you with a place to chill and relax during your holiday, but also because it costs less than the urban environment.
Every careful developer and end-user is conscious of the benefits of investing in a farm home. You have farmland in rural areas at relatively lower prices. And they come in easy headlines too. No wonder, India’s lifestyle-conscious and invest-savvy parts never like before love farmhouses if you find that your farmhouse can only be used as your home away from home or private getaway.
What is the worth of investment in a farmhouse? The value of a farm-house never gets depreciated. You can still dispose of parts of your farmland at some point in time, as demand for farmland is continuing to increase.
Agriculture is the backbone of the Indian economy and one of the latest trends for the Indian travel revolution. Farmhouse trend is thriving all over the country (mostly a home on a farm), assisted by the growing popularity of households in India. Farmhouses, therefore, offer a real and stimulating glimpse of rural life in a surprisingly fresh country climate.
Best Places According To Farmhouse Trends To Buy A Farmhouse In India
It’ll probably be the most significant thing that you would buy in your life. That’s why every move on the road to purchasing a home, whether it’s for living or investing-needs to be taken with great care.
There is also another reason to be careful. Indeed, when the festival season starts, many developers can offer freebies and deals that might seem too tempting to ignore but could end up being traps.
Banks and other lenders, too, would attempt to cash in on the festival fervor by quickly obtaining loans. Will you have to fall for those offers? But is it more prudent to ignore them and wait for a price adjustment that might or may not happen?
All That Matters Is Your Budget To Follow The Farmhouse Trend
It is a demanding call. Nonetheless, a glance at the facts on the ground may provide some useful hints. Recent times, for example, have been marked by a lack of interest from buyers, and thus a sharp rise in inventory with builders.
Prices have also gone up slowly. In reality, they fell in many cities. Although the builders are struggling to sell, high rates of property and interest combined with economic uncertainty make people wait and watch. Yet morale in the industry has changed, and property brokerages record an increase in the number of inquiries.
The country homes not only offer a successful investment opportunity but are also worth buying as a second home or getaway potion for the weekend. Many buyers of low revenues and low incomes would like this investment to take a break from the city’s hectic bustle and flee to the quiet and green farms.