One of the most significant investments people make is in real estate, and it can be a minefield for those who haven’t previously purchased property. You have so many options, from new builds like Rockford Homes to old homes that will need renovation.
Whether you are looking to buy a new build to live in or to rent out to others, it is a great investment, and here is why:
Modern Layout
Most buyers and renters are looking for a modern free-flowing open-plan style home. They look bigger and let more light travel through the home.
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New builds or holder homes that have been renovated offer this option, making a new build a more obvious and better choice.
Energy-saving and demand
New-build properties often have a range of energy-saving options that older properties don’t. Solar panels are easier to fit or can sometimes be included in the build; better insulation, double or triple glazing, and better heating and cooling are possible in new build properties.
It means that if you are considering a home for yourself, then you have some great money-saving options – or if the home is to be rented out, you have plenty of positive points to entice plenty of interest.
Eco-friendly properties are a financial advantage to the buyer and the person who lives in the property.
Location
New communities are planned with precision, so they offer the buyers the best driving or public transport routes. The location will usually be placed where government funds are being plowed into the area or the likelihood of a boost in the job market due to other commercial developments.
New developments, in general, are built-in what you would class as an A neighborhood. This means low crime rates, well-kept play parks, natural spaces, amenities nearby, and better schools.
Fewer repair works
Although it is still advised that any property you rent out has regular inspections, new builds come with zero requirements for maintenance for a short while. Since everything is finished to the highest standard, you will avoid all repairs for potentially years.
Consider plumbing, electrics, new carpets or flooring, and more for older buildings but not for the newer ones.
Warranties
Many new builds come with adding white goods and other appliances to them. The goods you choose and all of the major systems within the home will have warranties that last a little longer than the average.
An extended warranty should cover all electrical, plumbing, heating, air conditioning, and essential structural components (new build extended warranty lengths vary). The manufacturing warranty should cover everything that breaks or goes wrong.
Deposit
New builds often come with a more favorable deposit amount and sometimes come within special purchase offers for first-time buyers. It is worth looking into all of the possible help and financial products you have available to you when you look at a new build.
If you consider property as part of your retirement, here are more things to consider: Ensuring financial independence even into old age.
Photo by Sandy Millar