Where Should You Buy Your Second Home? New Research Can Help You Decide

Posted on Oct 25 2019 - 11:48am by Liz Dominguez
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second home

If you're looking into buying a second home, the options can seem limitless, and maybe a little overwhelming. But some new research from Imovirtual can help you narrow down that massive list, making it easier to choose a location based on several factors, such as average price-per-square foot, annual utility costs, annual broadband costs, potential Airbnb income, quality of life, safety, cost of food, and more.

According to "The Best Countries in the World to Own a Second Home" report, this is where you should be looking:

  1. Estonia
  2. Finland
  3. Iceland
  4. Lithuania
  5. Portugal

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Source: Imovirtual

For those prioritizing quality of life, Denmark is the way to go. But if affordability is your biggest concern, head to Mexico where average annual utility costs are $414.49* and public transport is cheap, coming in at $107.86* for six months' worth. In terms of food costs, however, Poland wins out, costing only $3,491* per six months, on average, for two people.

If you're worried about safety, Switzerland is the place to be. But if you're looking to make some passive income during those seasons you won't be occupying the space, your best bet is Iceland. There you have the potential to make $18,781.78,* on average, for six months, if you're housing four guests.

To read the entire report, visit www.imovirtual.com.

*All currency was converted from Euro and was correct as of Oct. 16, 2019.

 

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