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A lot of people think, when they think of new construction, that you're not going to get a good value, or that you're not going to get a good return. That you're going to have to pay a lot of money. So, we target a very specific subset of new construction. We're not looking at expensive properties.
The benefits of new construction, I could talk about all day. I want to share with you some of the main reasons why I buy new construction in my own portfolio to subsidize all of the repair and value play properties that I do. So, number one, everything is brand new. So, it obviously makes sense that your cost of maintenance and ownership would be lower. We're targeting these developing areas with new infrastructure, heightened growth and relocating, as well as, expanding employers. The areas that we go into may have 50% of the people relocating there as renters, but it's predominantly still owner occupied properties. So, the areas that we're going into are not landlord heavy yet. They're starting to get there. That's exactly what we want to be but there's an even higher percentage of housing shortage for renters than what there is in the main city. So, when we look at the areas that we're trying to go to, we want to be the minority we want to be in a place where, whatever is happening on the worldwide scale, that there's still not enough properties for people that need to rent. Other reasons for why new construction would be that reduced property taxes are usually offered at the beginning of ownership, buying in at the beginning of development is key before prices skyrocket, and the many options of builder warranties and affordable extended home warranty protection.
We love new construction, and would love to talk with you more about it! Want to schedule a call to get started? Click
