One method of property investment is to buy old or damaged property, renovate it and then attempt to rent or resell it. This can come with a few disadvantages. You could come across unexpected surprises in renovation costs and the amount of time it actually takes. These and other issues can prevent completion of the project.
But if you buy the house and land as a package, they’re mostly free of these potential problems.This is because it’s an investment that involves building brand new, highly efficient property. So there’s no need to worry about any risky renovation projects later on.
There are also various disadvantages that come with investing in urban property for subdivision. Unfortunately, this drives away many potential investors. These can include poor depreciation deductions and expensive mortgage and maintenance.
On the other hand, since house and land packages involve building new real estate rather than old, these costs are much lower.
Add a package to your investment portfolio
New property attracts higher quality, long term tenants. People looking to rent a brand new house tend to rent for longer periods of time. This prevents you from wasting time and energy continuously having to find new tenants.
Another good thing about a brand new property is that you can charge higher rent rates. All of this adds to a positive return on your investment.
At Build7 Gisborne, we offer free design services. This means you can customise the new property for current demands. Our team can also help you search for the perfect section and then even negotiate to get you the best price.
With huge potential for long-term cash flow returns, house and land deals in Gisborne are a smart decision for anyone looking for a new investment.