Purchase a New Construction Investment Property and Reap the Benefits

All over Santa Fe, there are a variety of homes available for purchase ranging from older adobe ranch homes with plenty of land to new condos. If you own your own home in Santa Fe, you know how great the community can be and how much of a wonderful place it can be to live. Many people are moving in and around Santa Fe, putting rentals in high demand. One of the key things to consider when you have your own home and are looking to diversify your personal assets is to invest in real estate. Even though real estate isn’t a liquid asset, it can be a very valuable way in which to gain equity and to also gain monthly dividends in the form of rental income. If you’re looking to diversify your portfolio, consider a new construction home to bring in a wide variety of benefits as an investment property.

If you opt to invest in a new construction home, or even a newer home, to utilize as an investment property, you’re choosing a property that is going to be in high demand, as renters are constantly looking for new construction rentals for a few very specific reasons.

First Impressions

New construction homes are very desireable as rentals and rent out exceptionally quickly when you work with a good property manager. This is partially because new construction homes show very well. They have all the modern conveniences and style that many individuals want in a home, even if they can’t own one. You don’t have to worry about moldy bathtub caulk or broken-down appliances when you rent a new construction home. There is a perceived sense of care because the home is barely used, if at all. This provides an optimal first impression for any renters and makes it much easier for them to see the good in renting the property, versus all the potential problems that could come up and cause an inconvenience.

Allergen Avoidance

For individuals who suffer from indoor allergies, new construction homes are often the only option that they have. While you could more easily control the indoor allergens in your own home that you buy, individuals who rent and have allergies definitely have a hard time finding a good place to live. New construction homes are highly desirable for this reason. Often they haven’t had pets present in them, no years for dust to build up in the vents, and new flooring that can make a huge difference in reducing allergens.

Low Maintence for Them

As we briefly mentioned above, when potential renters view a new construction home that is either entirely new or has had only one or two tenants prior, they see how low maintenance the property is going to be for them. New homes have more energy efficient windows and appliances, which means lower utility bills. New homes also have the straight up benefit of being new and knowing that all the different aspects of the home are going to hold up. No easily broken pipes. No broken garage spring. No constantly dripping toilet. This in turn means that maintenance personnel have to be at the property far less often and disrupt tenants lives as little as possible.

Less Worry for You

Along with new construction homes being beneficial for tenants, investment property owners have a lot to gain from owning rental real estate that was built recently. Newer properties can not just be rented out for a higher market price, but they also cost you less in maintenance costs and upgrades. A new construction home can remain in good condition for easily over a decade. During that time period, you may have to invest in some interior paint and replace the carpets, but you can bet that many of the large appliances and most of the house is going to hold up well. This reduces your initial out-of-pocket costs and can help you make money off your investment from the start.

Real estate in Santa Fe can be a worthwhile investment for anyone looking to diversify their funds and improve their overall income. New construction homes are always in demand and bring a variety of benefits for renters and owners alike. Let the professionals at Berkshire Hathaway Santa Fe help you pick out just the right investment property for your needs!