Most people agree that it’s convenient to invest in an established house. It’s cheap, easy, and apart from a few retouches and installations, you don’t actually have to bother building the property from scratch. If you carefully analyse and factor in the risks and extra costs that come with used, worn properties, however, you might see your investment decision in a new light. Brand new home and land packages here in Perth offer multiple investment benefits that outweigh what ready-built properties offer.
You get to select your location and home design
House and land packages give you the liberty to select a good location, ideally one which demonstrates positive economic growth and real estate value appreciation. You can also customise a house design according to what you believe will entice your prospective tenants, making your investment more attractive.
You can work with a reputable builder and ensure your property’s structural integrity
Top builders use high-quality construction materials and employ modern techniques to give you a great brand-new property. This means you don’t have to invest a lot in terms of inspection, maintenance, and repairs to make your property habitable. Some builders also include fittings and fixtures in their home design.
You can attract better-paying tenants
Older properties get lots of complaints—settling foundations, leaking roofs, poor insulation, etc. If you invest in a quality and entirely brand-new property of high quality, however, you won’t have to deal with such hassles. Should you ever decide to rent out your home, a prospective tenant with the capacity to pay will find your home’s modern comforts and conveniences rather attractive. Such a tenant may grow to like your new home forthwith and may even stick around for a long time, which means you won’t regularly have to find a replacement tenant to fill in vacancies.
You save on stamp duty and tax
With home and land packages, you only pay for stamp duty on the land since the home wasn’t built yet by the time of purchase. You may also claim tax deductions for depreciable assets in your new home, such as the fixtures and fittings in addition to construction costs. This is in addition to the benefits you may receive from claims on the rental management cost, interests, and rates, which is great news for your cash flow.
Are you now excited to invest in house and land packages here in Perth? Consult companies like WOW! Homes to learn about your financing options and check out their range of beautiful home designs.
How do house and land packages work? CommBank.com.au
Building Your Own Investment Property from Scratch, YourInvestmentPropertyMag.com.au