Secondary house for hunting on weekends
Investing in a second home for hunting at the weekend? Why not!
A place for reunions, often full of memories, the second home is a real family home. An expensive pleasure, it is true, but it also allows you to create a haven of peace, especially for those of you who love weekend getaways and hunting. Discover the houses of dungiven to find the ideal second home.
But what is a second home really for?
The second home is often a family home and as such is the anchor of the family unit. It is often the meeting point of the different family members, sometimes geographically distant... The children spend beautiful holidays there and then meet there as adults, with their own offspring, so that siblings and cousins can live unforgettable moments of sharing.
For many, buying a family home has a sentimental dimension that goes far beyond the value of the stone.
A second home is not just for families!
Getting together with friends
Country house, holiday home... a place to relax or escape, the second house also offers a convivial space to receive friends. You can spend beautiful evenings by the fireplace, around the swimming pool or at a barbecue.
Family house does not always rhyme with tribe.
You may also want to buy a second home to live in alone or as a couple. It then becomes a haven of peace where you can come and recharge your batteries, in the calm of the city, to reconnect with yourself.
But buying a second home is a pleasure that comes at a high price.
The price of a second home
However, there is a price to pay for a little piece of paradise. First the purchase price and then the maintenance costs. And a second home is more expensive to maintain than a main residence, because it is not inhabited all year round.
The annual cost of a second home is, therefore, estimated at between 1% and 3% (if it has a park or swimming pool) of its value.
Expenses related to a secondary residence
There are therefore various items of expenditure to be taken into account before embarking on the purchase of a family home. These include: maintenance and renovation work (roofing, waterfront renovation, taps, etc.), monthly charges such as heating (especially in the mountains), electricity, gas, a broadband Internet connection and house insurance.
In addition, there are possible concierge services (cleaning, garden, pool maintenance, security systems...) and, of course, taxation (housing tax, property tax, household waste removal tax, audio-visual tax).
Holidays always at the same place
No matter how pleasant it may be, a holiday home does not always satisfy the desire for skiing or sunshine in winter or the need to get away from it all from time to time by going abroad for a holiday. In fact, after several years of holidaying in the same place, there is a risk of lassitude.
What's more, if the second home is too far from the main residence, difficult to access and far from a big city, discouragement outweighs the desire to stay there. So much so that for some owners, getting there is a chore!
Buying a holiday home or country house with several people and sharing its upkeep is a solution to lighten the loads and costs of a second home.
It requires a certain harmony within the group. Because between families with children, singles who prefer peace and quiet and friends who want to party, you need to know who you are going to spend your holidays with!
If buying as a group is a way of spreading out expenses, it also offers the possibility of buying a larger, atypical or better situated property.
Organising the inheritance of a family home can be anticipated, especially when there are multiple beneficiaries. The earlier you start, the less you give to the tax authorities. Legal steps need to be taken (creation of an SCI or joint ownership). As for resale, the tax on capital gains on resale must be included in the calculations.
In the case of a donation, the purpose of which is to pass on one's family home to one's child(ren) or other family members, the rule is that if one passes on one's property before the age of 71, one benefits from lower donation rights. After the age of 80, there is no further deduction. For multiple donations, an indivision must be created. As inheritances to be shared between children can be problematic, it is advisable, if necessary, to make a single donation.
Living in your second home when you retire?
Once your professional activity is over, you have two possibilities: either resell your primary residence and live in your secondary residence, or resell both and buy something else.
In either case, buying a second home while you are still working is a good way to prepare for retirement.
Choosing the right location is one of the fundamental principles of real estate that also applies to family homes. Because if you decide, when you retire, to transform your second home into your main residence to spend peaceful days there, it's better to anticipate this change of function and be sure that you want to live there all year round...
Investing in a family home remains, in the end, a long-term investment. If the property has been maintained and its location and quality give it a patrimonial value, it will constitute an interesting capital to keep, pass on or reinvest in other projects.