Since our childhood, we have always portrayed an image for ourselves- we are living happily in a cabin or a little house, where there is a river flowing nearby on one side and a range of green mountains on the other side. A childhood dream home. While seeing the same geographical scenarios in wallpapers, now it seems that practically it is very challenging or not possible to own such one place. Reasons could be many, may be, due to forest department intervention or authority or local villager’s rebellion towards an outside ownership on their land. There is no question of existence of such beautiful places but thanks to social media, we do know about many locations where such beautiful sceneries exists. The question arises here is how to find such places available for selling and how to overcome all the legal and social barriers to own one, in this blog we are going to discuss all this.
Now many young workaholics are selecting a place in hill stations who are been allotted work from home. So there are people who go to a hostel resort pays rent and leave and there are investing minded freaks who are sound with their saving and wants to invest in hill station homes. There are two options available, either to buy an already constructed property and use it as a rental income or business or to buy a land and make a fresh construction as per respective dream plans. Both have their pros and cons, where already constructed property is free from all the construction hustle but costly, while purchasing a land and constructing a new one might be tricky and extremely costly and challenging.
Let’s discuss the challenges while constructing a house in hilly areas. You need to decide whether you want to do your own construction if it’s a simple house design and also having a little experience of creating a construction, or you need to hire a builder/team of architect as they would be certainly aware about the construction challenges of the very terrain. Mostly locals opt for the first option whereas property investors or angel investors chooses an experienced builder which could also be a right decision for you too. It’s hard to find labors in hilly areas and organizing them for a common build up is really difficult so it’s better you find an ideal cost effective building planner (builder) for your dream project. One way to find such builder is to look around construction sites near yours. After meeting a prospect builder, find the reviews of the builder in nearby areas too and observe the site on which he/she is working. What type of instruments, machinery, material and processes he/she is using on that site to build the project. You are required to visit the sites that are already completed to know more about the end results. You must select at least 2-3 builders and make them visit your site. Let them go through your plans and site dynamics and ask them about what would be their approach for building your dream project.
Your first priority for this dream project should be its map as per the site, that has to be approved by government authority of Uttarakhand. Logistic challenges also play vital role in approval of the map as how far the site is from roadways. Once your map is approved all discussions regarding approach to construction especially in terms of finance needs to be discussed as it is clear and evident that while constructing a house/building in hilly areas such challenges in between the constriction always occurs. After discussing construction challenges we have discussed logistical challenges. So while keeping above points in mind you must proceed with your construction with caution.
Since you are choosing a hilly area then owning a vacation home in a main city is costlier and difficult to find. So it’s highly possible that your chosen site could be in between tropical areas of main city and even further than the main land. Another challenge would be of its maintenance once you are not at the site but at your base location. The site becomes a havoc of cleanliness whenever you revisit. Considering all the challenges mentioned above, take wise decision of owning what type of property in hilly areas.
On the other hand, it’s a sheer bliss to own a property in hilly areas where you are far away from city scuffles and enjoys the nature’s best offerings. If you love mountains and its terrains than owning a property in such area will let you explore more nearby places that too cost effectively. Also people are looking forward to earn rental income from their property or real estate investment while investing fractionally. Fractional Investment in real estate is a new boom in property investment where angel investor, property investor, entrepreneurs or even IT professionals, bureaucrats and doctors are investing in vacation homes. Here, you invest very little amount of investment, may be in a fraction which we call a key and earn rental incomes through it and sale the very fraction in some time at very good return rate. You also get your decided stays at the property as well. To know more about fractional ownership or fractional investment in vacation homes or second homes, visit www.propbnk.com where you will get all the insights and dynamics of digital fractional ownership.
