DIRECT FROM THE DEVELOPER
Another option direct from the developer is completed property. This has the advantage of being completely new. This is something that good tenants sometimes are happy to pay a premium for.
Other advantages include a white goods package and new carpets throughout. This means you don’t need to spend much to get the property ready for your new tenants. Similarly to off-plan, you will know that your new property is built to the latest property standards and comes with a ten-year structural guarantee. This means you are unlikely to have to pay out any costly fees on your property for some time to come.
Completed property has its disadvantages too. Sometimes there are teething problems with your property, as there could be one or two defects that need addressing. Whilst we would do a full search on your property before handover, we have an aftercare team in place to take ownership of any problems that can arise.
With completed property, you are likely to pay the market price. This means it is not as effective as off-plan in building up equity in your portfolio.