Problem #2 – It’s harder to sell a New Build
Some times people will say, “If you buy a New Build in a large development there will be lots of similar properties.
“A few of these properties will always be on the market at the same time. That can make it harder to sell your property.”
This is a good point and can be true in some cases.
Some townhouse developments have 80+ units that are all identical.
So when you come to sell your property, there could be an identical unit on the market at the same time.
More of the same property means competition.
One way to get around this is to buy in either:
- a smaller development or
- one with several property designs and layouts.
Why? There’s a big difference between:
- buying in an 80-unit development where all units are the same
- And buying in an 80-unit development with 8 different property layouts and floor plans.
In the first scenario (1 layout), you may have 79 “competitors” when it comes time to sell.
In the second scenario (8 layouts), you have 9.
So, try to buy where the units aren’t all the same in a large development, or opt for a smaller development.