Benefits Of Buying A New-Build Property
This year, a large number of new-build developments are on the market. These developments offer attractions for investors and home owners alike. Compared to older properties, new-build homes allow buyers to have more choices in location and design. Additionally, they consist of more up-to-date and cost-effective features.
In many cases, new-build developments put individual properties on the market before they have been constructed. Getting in early allows the buyer to select the lot with the best view or most appealing location. For example, they can request a specific type of flooring, a certain brand of appliances, or more luxurious bathroom fixtures. Being able to make these choices guarantees that buyers can get exactly what they want, and it saves them from having to do renovations later on.
When Buy-to-Let investors buy an older home, they typically need to spend both time and money on repairs and maintenance. After a certain number of years, roofs start to leak, appliances wear out, and doors and windows need replacing, to name just a few common problems. New homes, however, are in brand-new condition with appliances, roofing, and flooring still under warranty. Not only is it easier to rent a new home right away, an investor can save money on maintenance for years.
Another advantage of purchasing a new-build home is the opportunity to save energy and save money on energy bills. Refitting an older home to make it more energy-efficient is very costly. Thankfully, modern building codes provide new houses energy-saving features such as reflective roofing material, tightly sealed windows and doors, along with other measures to prevent heat transfer.
This is especially true when buyers make the purchase early on, ideally before the house has been built. Buying early allows buyers to customize the property and choose a prime location. Furthermore, it also allows them to benefit from a significant appreciation in value. More cautious buyers may prefer to wait until properties within a new development have started to sell. Thus, new homes can eliminate some of the risks in property investment.
12:00 pm, Aug 6, 2018