Homestays: A Perfect Place For Vacation As Well As A Good Real Estate Investment

This western concept is the latest trend doing the rounds of the Indian hospitality industry

While this may be a thing of the recent past in India, many a person would have come across Homestays in Enid Blyton books they read during their childhood or definitely during one of their travels abroad. These places afford the best of both worlds by providing a home away from home for its guests and by providing the owner with a lucrative business option.

These Homestays are a concept which are slowly catching on to all parts of India and is one of the top agendas on the minds of the government as there are few better ways to not just improve local tourism but the overall amount of tourism in India. We will first discuss why Homestays are a good option for travellers and then look at why it is also a good real estate investment.

Variety is the spice of life

Why stay in a hotel when you can stay in a home?

Most often, when people are travelling, their basic choice for accommodation is a hotel or guest house where one comes back after a hard day to enjoy the comfort of a bed and a few other amenities that are part of all these places of accommodation. Compare that to a Homestays and there are so many differences starting with the warmth and sense of belonging that a Homestays provides.

Cultures and traditions

This is amongst the top factors that bring visitors to India every year

A lot of people are drawn to the numerous cultures and traditions that this country offers. Many tourists like to get a basic knowhow of the place where they are at and to understand some of the local customs and mannerisms. Staying with a local family is one of the best ways to get to know about the natives as you are party to the day to day happenings inside their house. Apart from this, you also get to learn about the local cuisine on a first hand basis-something that is a huge part of the culture of any place and  not a possibility when staying in a hotel or visiting a restaurant.

The target audience

There has been a shift in clientele with nationals also choosing to stay in these Homestays

Earlier, when this trend just came in, mostly foreigners would be using Homestays. Nowadays, there are a good mix of Indians and foreigners alike preferring Homestays during their travels. The fact that even Homestays have to follow certain parameters like room dimensions and provide basic amenities found in a hotel room like toiletries and bed linen, could have a lot to do with this.

Feel at home while becoming a real estate investor

The best thing about opening a Homestays is that you can do it in your own house or if you are having villas in Bangalore. 

The best thing about Homestays is that even if there is that one spare room at the back of a house which has been lying unutilized for a while, it can be turned into a Homestay if it falls under the basic requirements set out by the state tourism board. All one needs to do I order to get a license is contact the local tourism office and fill in the application form that is available there.

Minimum input maximum output

Very few investments need to be made to turn your place into a homestay

As compared to opening a hotel or a guest house, where one needs to acquire a property first and make a number of necessary changes, becoming the owner of a homestay involves none of these. One can turn the spare bedroom of their house into a homestay after making a couple of basic adjustments

One of the most flexible real estate investment options

This is one of the biggest advantages of having a homestay as a business

Not everyone is lucky enough to stay in a place that is full of visitors throughout the year. Even the best of touristy places has a lull period during the year when they see the number of tourists going down. Homestay owners have the option of shutting down the homestay during this period and reducing costs of overheads and then open again for business in the other times.