INVEST IN THE FUTURE
Buy cheap, tidy up, add value. It’s a tried-and-true investment strategy, which for years has spelled success for New Zealand property investors. But with the perfect storm of vertiginous house price rises, changes to the Residential Tenancies Act (RTA), and the Healthy Homes regulation, many investors are looking for different ways to do business.
Off the plan doesn’t have the obvious appeal of buying a house that’s already built. It’s a slow process, with build times that can take years. A promise of a future house isn’t as exciting as real “bricks and mortar”: then there are the horror stories about developments that never eventuate.
Nevertheless, many of the country’s most experienced investors are rethinking off the plan and deciding to invest in an option that’s looking increasingly appealing.
