An Investor’s Mindset – Considerations For Your New Build Investment Property
Are you considering the purchase of a brand new build as an investment property? How exciting! In today’s blog, the Aston Homes team encourage you to put on your ‘investor thinking cap’ and consider some of the details that may improve your rental return, and the perks that you’ll enjoy in purchasing a new build! Read on.
Step into the shoes of your potential tenants.
A great approach to investing is to look at an area through the lens of your potential tenants. Keeping on top of timeless and highly sought-after features in a floorplan will certainly pay off. Open-plan living is the way many of us prefer to live today, so choosing to build home from scratch is the perfect way to select a floorplan with plenty of open space. When making investment decisions, also consider the demographic of the tenants you would like to attract. Many families are looking for close proximity to schools, medical centres, retail zones and parklands. Individuals and couples on the other hand, may be looking for simple access to the CBD for work, trendy restaurants and social opportunities. Being part of a thriving community is of huge import to all prospective tenants, ensure you consider this as you envision your role as future-landlord.
A future-focused attitude.
Now, let’s jump back into your investor shoes! The long-term benefits of investing in a new build home are significant and shouldn’t be overlooked! Depreciation is key, as when it comes to tax time, tax deductions can be claimed for depreciable assets such as the construction cost of the building itself as well as its fixtures and fittings. A new investment home is also an asset that you can use to build wealth over time. If well-maintained and well-considered, it will certainly work for you in return. Smart real estate investments provide strong, continuous cashflow!
Easy-care for all!
Lastly, let’s consider your role as a landlord. Another great benefit of choosing a new build home as an investment property is that they have little or very low maintenance – for yourself and your tenants. The building, fixings and fittings will be covered by the Aston Homes builder’s warranty for as long as 10 years. Further, each appliance in your brand new build comes with its own warranty, and great builders are happy to honor these warranties on the manufacturer’s behalf. This is pretty significant when you consider that one of the main costs of an investment property is the maintenance and upkeep! In addition, quality builders use high quality materials and better construction techniques than their competitors, meaning homes are well built and incredibly efficient to maintain. Life as a landlord is looking pretty luxe!
The Aston Homes team hope that you’re feeling more informed about choosing a new build as an investment. If you have further questions, we are always on hand to assist with information about purchasing your investment build. Contact us here.