Unless you know exactly what you are looking for in your forever home, almost every luxury villa you come across while browsing will tempt you into owning it. The reason behind this is simple- spacious houses with luxury amenities and rich interiors are not the ones to reject.
In our 15 years of experience, we’ve built and lived in luxury villas. We have noticed that none of them are unpleasant to the eyes; it’s all about preferences and how you as an individual envision your luxury forever home.
Think of it this way; you’ve lived your life fancying yourself living in a home that’s yours. You must have a checklist of things you might want in your place that a ready-made property can not provide to you. So what’s the whole point of investing in something that is pleasing to your eyes but does not delight you truly.
Buying luxury villas in Goa is a smart investment decision considering the ROI, and you can probably find multiple developers for the same. You need to have a few things in Goa Villas, including smart security, connectivity, and state-of-the-art amenities. But that’s not all, let’s see why!
How much do luxury villas in Goa cost?
Budget is people’s first concern when they decide to put their money into a property, and so it should be, which is why we find it feasible and extremely necessary too to address this concern of people first.
The total cost of your purchase depends on several factors like the type and size of the property, location, and expectations. Typically, if you are looking to customize a property as per your requirements from scratch, it would cost you more compared to the prices of a ready-made one. On a similar note, opting for a heritage villa can get even pricer since they hold great value.
Since the pandemic, the demand for holiday homes in Goa has gone up significantly, increasing the prices of the same too. If you are on a budget, you can compromise a bit on the location, and instead of buying a place in North Goa (that is expensive), you can find a suitable and affordable one in South Goa. It can cost you anywhere from 3800 INR – to 5000 INR Per Square Ft.
Typically luxury villas in Goa or beach houses can cost you upto ten crores, although it is possible to find a 3/ 4 BHK villa under five crores. In this budget, you can easily get your hands on a spacious space that is fully furnished and has all the upgraded amenities that a luxury villa in Goa should have.
Experts say that the price difference between villas in north goa and south goa can be anywhere between 15-40%, mainly because the land prices in South Goa are comparatively less than in North Goa.
Now that you know how much your decision depends on the location, both financially and lifestyle-wise, let’s discuss this in detail.
What are some best destinations to own luxury villas in Goa?
When it comes to finalizing the destination of your forever luxury home in Goa, you will have to ask yourself some questions. First, ask yourself about the purpose of this purchase- will you be using this place more often, or is it just a second home you will visit on holidays? Because in the latter case, you might have to consider renting the property out, and for that, you will have to make sure the property is situated where the tourist spots are. Similarly, ask yourself the following questions before you conclude-
*Whether you’d like to be a part of the calmer side of the union territory or not?
*What are your budget constraints?
*Whether you are looking for a retained income through this investment?
Now that you have your requirements clear, it’s time you decide which location it will be. So let’s dig in!
1. Luxury Villas in South Goa
This part of the territory includes various tranquil beaches like Agonda, Patnem, and Betul; extending from Canacona to the city of Vasco De Gama- South Goa is known to be the peaceful part of the region where people usually like to settle down. Those looking for holiday homes should explore South Goa as it has a lot to offer. Moreover, South Goa is where you can get the opportunity to examine built properties and customize your own place. However, be mindful of the low land costs because the returns on your property will also be low.
2. Luxury Villas in North Goa
The north side is typically the opposite of the south, and it is a major tourist destination and a hub of clubs, restaurants, and explore-worthy beaches. Compared to south Goa, properties and plots are way more expensive in the Northside as this side attracts the major percentage of tourists every year. Investors are more inclined to invest in North Goa because of the property’s better return on investment and appreciation rate.
3. Luxury Villas in Central Goa
Central Goa basically comprises Vasco Da Gama City and Panaji. Unlike South and North Goa, there are very few villas in this location- you can easily find apartments and old heritage buildings there. Although no rule book suggests the same, Central Goa is not the appropriate location to look for a forever home.
Why is buying luxury villas in Goa a good investment decision?
What is the reason that high net worth individuals are so tempted to invest in property in Goa these days? Well, the clear-cut answer to this is that a property in Goa can yield 12-15% of annual rental returns easily, which is because of the tourist influx in the territory.
Another reason is that there are several good investment options- with increasing residential and commercial projects in the UT, whether you want to invest in beach houses, villas, apartments, or apartments; the market is open and quite welcoming.
If you are looking at it from an investment perspective, then might we suggest you avoid putting your money into apartments? This is because the appreciation rate on apartments is lower than plots and villas. But you can surely leverage the rental returns that you can get from apartments, which are more deficient in villas and bungalows, since it is difficult to rent these properties out.
How do I find the best villas in Goa?
Now that we’ve discussed locations and investments in detail let’s figure out some factors you need to consider before finalizing a deal.
Connectivity
Connectivity is important, especially if you’re willing to settle down once your forever home is built. You need to look for an ideal location close to schools, general stores, hospitals, gyms, etc. Moreover, you don’t want to completely isolate yourself and your family members from the rest of the world by choosing a location that is miles away from basic necessities. You can consider finding a place in localities like Mormugao and Ponda in South Goa- these places are calmer, yet the accessibility is great.
Amenities
You can customize or choose the available ones in the market, but ensure the place has all the amenities that one might need. Now, these could include smart security systems, pools, and more. You can go for a fully-digitally operational smart home if you are customizing. Literally, the list of the upgraded technologies and amenities that you can incorporate is long, so if you want to know more about that, click here.
Location
Decide if you want to go for a place that’s near beaches or away from them. Usually, villas are built away from beaches, but you can surely choose the location depending upon the view you want from inside the luxury villa. A lot of people today have this fetish for having a scenic view from their bedrooms and living rooms, and if you are one of them, you must consider that prior. Also, make sure you see how far the place is from your workplace and relatives who you might want to visit often.
Review the developer
Finding the right developer who understands your requirements and has specific experience, can deliver what you want, and is true to their words is as difficult as finding god itself. You need to be very strategic, research well, and analyze the background before handing someone over the project. And when it comes to researching, you’ve got to go beyond browsing their websites and believing the testimonials. One way to do this is by researching their past projects.
Cross-check documentation
When it comes to documentation, you will not have to worry about most of it if you hire a trustworthy building company. They mostly take care of all the formalities, including legal formalities and certifications. However, if you are buying an old villa, you will have to take care of a few documents, including property tax receipts, release certificates, and pending bills. Moreover, see whether the builder you entrust your project with is RERA certified or not, as it is a legal mandate today.
Be mindful
Building your dream home from scratch is one of the best decisions you can take since buying an old one can increase your work. But if you have signed up for this, make sure you are mindful of what is in front of you.
Especially since you are buying a luxury villa, you need to ensure it has the best of the best amenities. Moreover, before signing the deed, positively check out every corner of the property quite well. Other than that, see how old the property is and if the condition is workable or not. Most importantly, try to get as much information as possible about the property from the planning office; it must not be a conflicted property.
Lifestyle
The location that you choose is going to impact your lifestyle significantly. On the outskirts, you will experience calm and peaceful mornings, whereas, inside the city, it’s all about socializing and being the fun type. So be very cautious of that too!
Final Remarks-
Finding a property that suits your lifestyle and preferences is not as difficult if you have the right help. While you will surely have to do the basics like making a checklist of your choices on your own, you can cut down on the hassle by hiring yourself a team of experts who can do the process for you while all you do is sit and relax. Honestly, getting the right quotations for property and finding a ready-made place that fulfills your desires is a difficult task since these properties are built according to someone else’s preferences. Which surely isn’t something you want from your dream home, so why stick to the basics? Build your dream home as per your preferences and live the dream today!