The relationship between households and property has changed significantly post lock-down with the quest for more space. As companies have adopted remote working practices, employees have been quick to move away, settling in the provinces for a year or buying a “semi-primary” residence one or two hours from their main property, combining convenience and pleasure; a sort of second home - ideally a house - offering the chance to enjoy regular trips to the sea or countryside.
Proximity to your home
When deciding on a “semi-primary” residence - as when buying a second home - it is important to choose somewhere within reasonable distance of your main property. The ideal journey time is one to two hours so you can get there easily. Location is, therefore, an essential criterion. When choosing the location, you should prioritize proximity to a motorway or a good high-speed train service. But these are not the only elements to consider when choosing a “semi-primary” residence.
Property features
Although some dream of buying a country house, others prefer a flat in the town centre, in a lively or touristy area. Any and everything is possible when it comes to a “semi-primary” residence provided your property is well equipped as well as well located. So, it is important not to overlook an internet connection which should be top of your list of criteria when choosing your future residence.
Next, space is critical and the option of being able to entertain family and friends. The presence of some outside space is often a plus for a “semi-primary” residence, granting the owners access to, for example, a pool or a leafy garden - amenities they may not always enjoy in their main residence.
Price of a “semi-primary” residence
All budgets are possible, and it all depends on your investment strategy. Whether you are looking for a penthouse in a holiday resort, a charming property on the outskirts of a large town or in the countryside, our Engel & Völkers advisers will be on hand to help you with your search.
In addition, there are also ways of securing a return on this investment, including seasonal or holiday lets. Which is why you need to consider the location carefully.
Thinking long term
Another aspect to consider when buying a “semi-primary” residence is long-term planning. In fact, many buyers make this kind of investment before they retire, planning to move there later. So, it is better to focus on an area that you love and where you will want to stay a few years.
In addition, funding conditions are still very advantageous despite an upward move in interest rates since the beginning of the year and the introduction of more restrictive lending criteria from banks, especially in terms of levels of debt and personal deposits.