One of the many benefits of letting a new build home is that the property will require virtually no maintenance. It will likely be equipped with brand new appliances along with a new heating system and electrics. A new build property can also be more appealing to a tenant as the opportunity to live in a brand new property is externally rare.
Another benefit of letting a new build is that you will be protected by a 10-year NHBC warranty which covers any issues regarding foundations and structural problems that may occur, which gives peace of mind in case anything were to happen. Most new build properties also include a 24-48 month warranty on plumbing and electric fitting.
Buying early on in development (off-plan) can also be up to 10% cheaper than if you were to buy later, increasing your rental yield.
More importantly, as new build properties are built with the latest energy-saving materials, they can be up to four times more energy efficient. A recent study suggests tenants of new build properties can save on average £90 per month on energy bills, even more, if the property is fitted with solar panels.
All new build houses must achieve a minimum EPC rating of B (A being the best, F being the worst). An EPC gives a property an energy efficiency rating which estimates the energy, heating, and lighting costs in your home. The average EPC in the UK is a D due to outdated insulation and poor-quality UPVC.
More and more landlords are investing in new build properties due to the rising costs of maintenance, upkeep, and bills. Rightmove now has a section on their website dedicated to new build homes, you can also check local planning applications for local new build developments.
If you would like any help finding a new build property give us a call on 01925 633011