If you’re thinking about investing in property, you may be wondering whether it’s better to buy an existing property or go for a new build. Both have their advantages and disadvantages, but in general, new builds in Papamoa tend to offer a number of benefits that make them a more attractive option for many investors.
Some of the main benefits of investing in new builds include the following:
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Increased rent ability:
New build properties tend to be more rentable than existing ones. This is because they include features such as modern kitchens, bathrooms and appliances that are difficult to retrofit into old properties.
In addition, they can often be built with high-quality materials such as stone cladding that help to improve the building’s appearance and make it more appealing to tenants. This can lead to higher rents being achieved than would otherwise be possible with an older property.
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Lower maintenance costs:
One of the biggest benefits of investing in new builds is that they tend to have lower maintenance costs than older properties. This is because they are built using modern techniques and materials which are far more durable than those used on older properties.
This means that when you rent out a new build property, you won’t have to worry about major repairs, replacements, and renovations in Tauranga as much as you would with an older property.
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Better energy efficiency:
A well-designed home will also be better insulated than an older one, so your heating bills should be lower as well as be more comfortable for your tenants.
This could also mean that there’s less wear and tear on your appliances over time, too – so there will be less need for replacements or repairs later on down the line.
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Stronger return on investment:
The next benefit of investing in new builds is that you’re likely to see a stronger return on your investment, as new homes tend to sell for more than existing properties. This is because there are fewer buyers interested in an older property, so the demand for new builds is higher.
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The option of buying off-plan:
Another advantage of investing in new builds in Papamoa is that you have the option of buying off-plan, which means you won’t have to wait until the property has been built before taking ownership.
Instead, you can purchase your home at an early stage and then receive regular updates about its progress until it’s ready for occupation. This gives investors peace of mind and keeps them up to date with the latest developments in their chosen area.
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