Buying a new house is a major decision for anyone to make and it suffices to say that homebuyers really need to do their homework before deciding on a house to purchase.
Having said that, there are many advantages to owning property and investing in a new house is an excellent idea for most people, especially those who are looking to be financially secure in retirement. Here’s a quick look at the benefits of investing in a new house.
Why buy a new house?
There are many advantages to purchasing a new house over one that has been lived in. Moreover, as there are a number of fantastic house designs in the Aveling Homes range for homebuyers to select from, regardless of preference for a particular style, everyone is sure to find the house of their dreams in a location a commutable distance from the Perth CBD.
- New homes attract better tenants. Homebuyers who are purchasing a house as an investment will find that new homes tend to attract better tenants, by which is meant tenants who will respect the property by taking care of it and residing there for years.
- New homes offer stamp duty savings. Homebuyers can save tens of thousands of dollars by purchasing a new house and land package over a secondhand home, or even buying a plot of land and building on it.
- New homes require little maintenance. Because the house is new and has been built to the most modern building standards, new houses are easy to maintain, offering homeowners minimal costs over the first five years when the property is covered by a builder’s warranty.
Additionally, new houses are available in a wide range of styles. As there is such a fantastic range of house design styles to select from, homebuyers investing in one of the new house and land packages in Perth will find that they may have their work cut out for them when making a selection. Whether it’s an ultra-modern design or something more traditional, yet still offering all the modern conveniences one would expect, homebuyers are spoiled for choice.
Depreciation and tax
Another advantage to purchasing a new home for those who are planning to rent their property to tenants is the opportunity to capitalise upon the forces of depreciation. In a new investment home purchased for $250,000 with fixtures totalling around 10% of that amount (approximately $25,000), around $15,000 in tax deductions can be created every year. That’s something for investors to think about when looking into their property buying options.
There are, of course, a number of important considerations that must be taken into account when purchasing a new house as an investment, including the location of the property, the infrastructure surrounding it (also take into account infrastructure planned for the area), and the fiscal health of the region. These are all very important considerations for investors.
Purchasing a new house and land package is an ideal option for property investors and there are many benefits to take advantage of when they purchase a suitable investment property.