Property investment is often one of the biggest investments an individual will make in a lifetime, which means considering various factors. Location, cost, and access to amenities are some of the important factors determining a property investment – another is deciding between older homes and newly built ones.
“Investing in older properties might be an appealing option when looking at the price tag, but many buyers overlook the many hidden costs associated with these properties,” explained Sam Wenger, Development Director of Serenity Hills, an eco-focused estate on the KZN South Coast. “Old electrical systems and plumbing, overdue maintenance and repairs, not to mention the costs associated with upgrading security systems and installing much-needed renewable energy systems all have to be budgeted for.”
Wenger said that modern, quality-built homes are often a safer investment option because of the long-term benefits associated with new builds.
These include:
1. Lower maintenance costs
Older homes require significant ongoing maintenance, particularly if the previous owners are selling because of financial restrictions. Newly constructed homes, however, will have modern plumbing and electrics, with stringent building codes and safety regulations adhered to. With regular upkeep, you don’t have to worry about costly maintenance and repairs on your home.
2. Modern designs for modern living
Times have changed and this is evident in home style and design. If you buy an older home, you’ll likely have to knock down walls and spend quite a bit on renovating the home so that it suits your modern living needs. Aspects like open-plan living, home offices, en-suite bathrooms and maximising the views weren’t part of older home designs but might be elements you want in your new space. If you’re buying in a new development, you generally get to choose from pre-designed layouts with the option of customised fixtures and fittings that suit your lifestyle and taste. Newer homes will also have modern conveniences such as sufficient (USB!) plug points, appliance-ready kitchens, and clever storage options.
3. Better energy efficiency
Energy efficiency in a home is not just a convenience, it’s a modern necessity which ensures you benefit from long-term cost savings. Renovating an older home to become energy efficient can be a costly affair, with many roofs unsuitable for solar panels and gutters unfit for water storage tanks. New homes come with more energy-efficient heating and cooling – while also taking advantage of design for optimum temperatures. Low-flow plumbing fittings, water storage solutions, solar-ready designs and more make new homes a much more energy-efficient option.
4. State-of-the-art security systems
Older, standalone homes are much more vulnerable in terms of safety and security. In addition, they aren’t always fitted with the latest security technologies that bring peace of mind. New homes, particularly those in estates, will come with top-notch security features, controlled access, and 24-hour patrols which means your family – including children – can roam freely and safely.
5. Community amenities
If you buy into a new estate rather than an older, standalone home, you’re enjoying access to modern amenities and facilities developed for the community. Clubhouses, swimming pools, hiking and biking trails, sports facilities, and more are all part of your new home value. You and your family will enjoy a more social, active lifestyle right on your doorstep.
6. Better resale value
The top-notch technologies, modern design, superior building materials and many other benefits of a new home also put a higher price tag on its resale value. This is especially true of homes that are located near the coast as the semigration trend continues, driving coastal property values up.
Serenity Hills on the KZN South Coast offers investors eco-focused and future-minded housing in an A-grade security estate. Buyers of these new, quality-built homes enjoy access to an active, holistic and healthy lifestyle for the whole family – pets included! Sustainability is at the heart of the development, extending from the building materials to home design with the layout and airflow calculated by an Energy Efficiency consultant. The estate has mountain bike trails, walking and running routes, on-site medical care, artistic workshops, award-winning food and beverage outlets, and a fantastic clubhouse.
Buyers keen to get significant value for their investment are encouraged to check out the remaining plots available in Serenity Hills before the launch of Phase 2! To find out more or to book a viewing at Serenity Hills, visit www.serenityhills.co.za. For regular updates, follow @serenityhillsecoestate on Facebook and Instagram
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Author: Agnes Matladi from Olivia Jones Communications on behalf of Serenity Hills.
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