Orlando Reid are experts in helping buyers, investors and developers transact in new homes and investments. Demand for new homes has gone up exponentially over the past decade and we have a range of new properties and developments to choose from.
One of the major benefits of newer properties is that new builds are a lot less likely to suffer from maintenance issues than older properties. Building regulations for new properties are stronger and more reliable than they were in the past, making newly built houses and apartments a good option for investors thinking in the long term. The longer a property lasts without the investor having to pay for repairs and general maintenance, the better. The last thing an investor wants is to pay out endless bills for issues! New Build properties now generally come with a 10 year warranty for any build defects.
Tenants are also often drawn to new build properties for this same reason, preferring to move into a property with higher spec facilities. Many tenants such as young professionals don’t want to spend their time redecorating a dated apartment or having to deal with run down windows and doors. When Orlando Reid markets a brand new property with luxury fixtures and fittings, these generally get snapped up the quickest and tenants pay a premium for these!
Another reason that new build properties are often popular with homebuyers and tenants is the potential for savings. New builds are known to have better energy efficiency than older properties and are developed using the most innovative and environmentally friendly materials. Energy Performance Certificates are an essential element of UK homes.
The higher the EPC rating, the lower your energy costs will be, which is a quality every tenant and homeowner wants. Over 96% of new build properties are rated between A-C, whereas just 2% of period properties fall between these figures.
This high level of energy efficiency means that running a new build property is significantly more affordable than others, saving an average of around £624 a year and £52 a month on energy bills. The fact that new builds are so much more efficient compared to older buildings, you can also make them warmer and there is less need for occupants to turn on the heating, which naturally contributes to lower household bills.
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A large majority of new build property investments fall under the off-plan category. Off-plan properties are homes that are still in the development stage, or for which development plans are in place but haven’t yet begun. These types of new builds come with a wide range of advantages, both for tenants and investors.
With off-plan properties, developers are known to offer the properties at a lower price as a way to attract investors. There can also be a set time frame for a buyer to pay the full amount for the property, with investors often only paying a deposit and the remaining percentage once the property is finished. These deposits will typically fund the initial stages of the development. Those investing in off-plan can also expect to receive a 10-year warranty on their property which is a massive bonus to buyers and investors.
Another big benefit of investing in off-plan property is the big potential for capital growth. There’s often the chance that off-plan properties could increase in value before even being completed, especially if it’s being developed in an area that has a lot of capital growth potential.
Finally, off-plan properties give investors more choice when selecting their property. For instance, if investing in a property within a new block of apartments, investors can choose the unit with the best size, most attractive layout, and most impressive city or river views. This is often one of the best ways to invest in property.
Please see the Orlando Reid Developments section to see the range of investment properties we have on offer.