INVESTING
Key financial benefits of buying into a new property development . The banks ’ enthusiasm for investing in new developments is driven by a growing buyer preference for these kinds of properties . New builds offer numerous advantages including :
• Reduced initial maintenance costs .
• Potential savings on electricity and running costs - when built to the latest specifications .
• Added benefits of community living .
• Enhanced security - when building in an estate or development .
• When buying before construction is completed does require a level of trust but is often more cost-effective than buying an existing unit .
• Bond repayments are delayed until construction is complete – giving you up to 24 months to put money aside and budget accordingly .
• Investing at today ’ s property price , the chances are the property value will already have appreciated by the time you move into the unit .
• Lower initial costs , such as the absence of transfer duty however VAT is included in
37 OCT / NOV 2023 Real Estate Investor Magazine