Purchase of a 2nd home: Apartment in the city or detached house in the countryside?

Buying a 2nd home can be a tempting condition. Another property can serve as a permanent or holiday home, while at the same time, it can be an additional source of income e.g., through leasing to third parties. However, buying a 2nd home hides a high cost, but also several challenges. If you are considering buying a 2nd home, then you need to give yourself some answers that will help you make the right decision.

As an indication, before you go ahead with any purchase, answer the following questions:

• Are you sure you can afford to buy a 2nd home?
• How much money can you afford to spend on buying a property?
• What is the purpose of this home?
• What property is ideal for you and your needs?

Once you have defined your budget and why you want to buy a second home, then you can consider the type of property: An apartment in the city or a single-family home in the country? To make it easier for you to arrive at your final answer, Spitogatos has compiled for you, the pros and cons of each option.

If you are considering buying a second home in the city

Buying an apartment in the city has a whole host of advantages, as well as some disadvantages. If you are considering buying an apartment as a 2nd home, it is advisable to carefully consider the following.

Advantages of buying an apartment in the city

Indicatively, the advantages of buying an apartment in one of the many cities in Greece are the following:

• Usually cheaper than a detached house: Buying an apartment is usually cheaper than buying a detached house, mainly due to square footage, age, etc. Thus, if your budget is more limited, buying an apartment is more ideal.
• Fewer maintenance obligations: When you buy a house, you will have to take care of both the interior and exterior of the house. Therefore, a house with a garden, yard, etc. can be more expensive than an apartment in the city.
• A value-for-money investment: Buying an apartment in the city gives you the opportunity to use it as you wish in the future. Even if you don't choose to spend your entire life in it, you can still rent it out and perhaps get an income from it. In most cases, after all, it is easier to rent a house in an urban center than in a more remote peripheral location.

Disadvantages of buying an apartment in the city

Before you make your final decision, look at the disadvantages of buying an apartment in the city. In particular:

• It's not always the best option for families and pets: Typically, most apartments in the city are smaller in size than a single-family home in the country. Therefore, it may not be the ideal solution if you have children and/or pets.
• Less privacy, more noise: Living in an apartment building comes with less privacy and more noise. Therefore, if you want your 2nd home to be combined with peace and quiet and relaxation, buying an apartment in the city is not the ideal choice.
• It is not always a good investment: In many cases, if you want to stay in a house in the city, you must consider buying a smaller or older house, but which is expensive thanks to its location. Thus, in the long run, this purchase may not pay off, and in a second year you may be forced to find a bigger house (if your family grows, for example).

If you are thinking of buying a property in the countryside as a second home

Buying a property in the countryside comes with several advantages and disadvantages that you need to be aware of.

Advantages of buying a detached house in the countryside

If you are still closer to buying a detached house in the countryside, then take note of the following advantages. In particular:

• Less air and noise pollution: In the countryside there is not as much congestion from cars. Therefore, both air pollution and noise pollution - from horns, for example - are more limited. At the same time, you avoid the 'bustle' of all the manufacturing plants - cf. Factories - that exist in urban areas.
• Lower crime levels: Countryside areas don't have as much crime as a densely populated urban area. This also makes it cheaper to insure your property because of the lower crime rate.
• Closer to nature: A detached house in the countryside brings you closer to nature. So, if you are a nature lover and want to get closer to beautiful landscapes or nature activities, then a house in the countryside is the ideal choice.
• More privacy: Not having neighbors living above or right next door to you is a big advantage if you want some privacy. You can do whatever you want inside your home or even sunbathe in your backyard without worrying about who will see you.

Disadvantages of buying a house in the countryside

However, this option also has some disadvantages that you should not fail to consider. Below you will find some of the disadvantages of buying a property in the countryside - in the mountains, in a coastal area or on an island. In particular:

• Greater distance from schools, services, shops, etc.: Usually, the countryside is more sparsely populated, so if you choose it as a permanent residence, you must take into account the distance from basic necessities of daily life, such as schools, shops, public services, etc. In addition, the variety and quality of these in peripheral areas may differ from their urban counterparts.
• More limited opportunities for leisure and recreation: Life in the countryside may seem ideal, but you should not forget that there are not the same opportunities for recreation, entertainment, professional rehabilitation, studies, etc.

Buying a home is a decision of a lifetime. Therefore, before making a final decision you should carefully consider all possible - and unlikely - scenarios and it is important to "weigh" the pros and cons with a clear mind. Then, once you have defined your budget, the criteria by which you will choose the property, the purpose of the purchase and the desired type of property, you can start your search. Spitogatos through its pages can help you find the ideal property to buy and take the next big step.