A turnkey development is when the building contract includes all the finishing items. This would include fencing, landscaping, floor coverings, window coverings, wall painting, light fittings and more. The idea is to have the finished house handed over so it is ready to live in. Turnkey developments remove any input required by the owner once construction starts, as all the items and colours have been selected at the beginning, meaning you can get on with your own business and leave the building up to the builder. This product allows you to take out one easy loan that will fund the land, construction, and all the finishing items.The Details
A turnkey development is where the home is ready to move into the day the construction is completed. There are builders who specialize in turnkey packages, and you can rely on their extensive network of developers to bring you the very best opportunities in the market. Because these builders work in volume, they receive discounts on the materials and labor that are used to construct the house, therefore making the package more affordable to you.
The Benefits
The greatest benefit is that the home is completely ready to move into, and everything in the home is brand new and in the colors you have chosen. When keys change hands, you just move in. If the turnkey property is an investment property, it is ready for tenants right away. This saves time and money, and also means you will not be spending money on maintenance in the near future. In addition new homes generally are more attractive for your future tenants and often get a premium on the rent.
Banks like turnkey properties. When it comes to the bank, approving the loan as a package with all items included reduces the amount of work required by the bank in approving the loan. Knowing that the property is ready to live in or rent as soon as constructed means the risk for the bank is reduced as the borrower does not have to find funds from another source to complete the project.
Investment
Turnkey developments are fantastic for the new property investor, as the whole project is efficient, and you will only have to deal with one contact for the development instead of scheduling meetings with designers, builders and councils. Investing in property in Western Australia is historically a strong investment as new housing is always welcome in the increasing population. Increasing your equity and your future wealth is a goal that most investors share, and a turnkey property development can take your investment plans into reality with ease.
Whether you are new to property investment or are an experienced property mogul; investing in a house and land turnkey property is sure to make your project easier and smoother to complete, from build to occupy. Perth duplex developer experts Ventura ID can help you get your property investment project off the ground.