New Build Properties Continue to Increase in Demand

Why are property investors attracted to new build developments?

A chain-free property

There are no previous owners, therefore investors can buy directly from the developer. Therefore, the process is much smoother and more efficient. Property chains can be quite frustrating. The chain process links buyers and sellers through their purchases and the success of purchase is dependent on many factors. If one person changes their mind, the whole chain could potentially collapse. In new build properties, investors are at ease knowing there is no uncertainty or risk of a chain collapsing. Hence ensuring a quick and secure purchase.

Lower purchase price

The developments are much cheaper to purchase during the earlier stages of the development. An off-plan development is purchased prior to or during construction. As a result, investors can secure the development at a lower price point. The value of the property will increase after completion and will continue to grow depending on the capital growth of the city.

Contemporary design and new appliances

New build properties feature modern décor and benefit from the installations of brand new appliances. Therefore, eliminating the need to refurbish and renovate spaces. As opposed to period properties, which would require a great deal of maintenance. The developments also tend to be much more stylish, attracting plenty of tenants.

Eco-friendly builds

Eco-friendly builds are cheaper to run and maintain. For instance, in new builds, investors do not need to worry about any outdated elements such as the electrics, kitchens, and bathrooms. Although these issues are amendable in older properties, they will add to the costs. Furthermore, any outstanding issues will prolong the process before a tenant can move into the property.  These developments are also designed with innovative materials and practical solutions.

Energy efficient

Each development also requires an Energy Performance Certificate. This will indicate how energy efficient a development is. A higher EPC rating means your property is very energy efficient, therefore, implies low energy costs. Unsurprisingly, over 95% of new build have a high EPC rating, thus attracting numerous investors.

A safer build with a 10-year warranty

New build properties must adhere to strict building regulations, which are much more reliable and safer. Almost all new builds come with a 10-year warranty.

Pick desirable units

Property investors have more flexibility when choosing an apartment in a new build. Investors can select their preferred units on a first come first serve basis. Taking into consideration the unit size they would like to purchase and which floor the apartment is situated on. Alongside this, investors can also choose a unit with the best view.