A local man came into the office recently to discuss investing in buy to let property. He was thinking about buying off plan and wanted to discuss the investment.
Tenants love new build property and will pay a premium for them in the right location.
Profit and Perks – Unpacking the New Build Market
House developers build for a profit and charge a premium for their product, so after buying the prices may fall or hover around their sell price for a year or two and then start to rise in line with the rest of the market.
However for new owners there are advantages to new build properties. They come with guarantees and when minor problems crop up much work can be done under warranty (such as a problem with the newly installed cooker, extractor fan or the odd leak which appears as a snagging issue)
However pay attention to service charges, these can dent rents.
If you want to discuss finding a great Buy To Let investment, talking to a Lettings Specialist is a good place to start. We don’t sell houses but we can give good advice on what to look for in an investment property.
Please feel free to call 01252 328384 and discuss with me with No Obligation.
Raewyn
