Did My Relative Make a ₹10 Crore Mistake by Building a Mansion in Rural Idukki?
One of my relatives recently built a huge new house in rural Idukki. He already had a perfectly good house, but he decided to build what is basically a mansion, probably worth close to ₹10 crore. He has two young kids.
This got me thinking about whether this was actually a good long-term investment.
Some of my other relatives think it was a mistake. Their argument is that when his children grow up, they'll most likely move to cities like Kochi, Thiruvananthapuram, Bengaluru, or even abroad for work. If that happens, such a massive house in a rural area could end up being underused and difficult to maintain or sell.
They argue that if he wanted to spend that kind of money, buying or building property in Kochi or Thiruvananthapuram might have been a better investment because those cities are likely to have stronger long-term demand and appreciation.
On the other hand, some people say money isn't everything. If it's his dream home, he can afford it, and he wants to enjoy living there with his family, then maybe it's worth it regardless of resale value.
What do you think? If you had ₹10 crore to spend on a home, would you build your dream mansion in your hometown, or would you invest in a major city instead?