New vs Existing - Which is the best investment? [2024]

[@keithrobinson1998]

I have four new properties and one older property. My constant fear is the maintenance cost of the old property... I will therefore sell my older property asap

[@Timelesstokensnz]

i disagree because the land area is also important. its more practical to buy the existing 1.

[@lancesivewright3580]

I see your point about roi for the lower deposit but wouldn’t the existing property have more capital growth in the same period? Due to the land size and the opportunity to improve the property.

[@ryseconstruction9748]

The insulation laws are for a good reason, we have needed to make homes warmer for a long time. For everyone stuck on how much it costs to insulate a new build home it only ads like 5-10k overall but all materials have gone up anyway. Then warmer homes are cheaper to run. The right arses out there will faint when you see how much the new triple glazing rules will ad, Another great one Ed, cheers.

[@roilhead]

Just heard from a major new build contractor and their work has basically dried up. Either house prices rise or the Govt pays out some serious bucks to make it affordable. Dropping the Labour insulation laws would be a good start. We are in for a massive hard landing that Labour created.

[@JohnDoe-fv5fe]

They ruined the country, going to be a fun year this year

[@opes_partners]

Really interesting perspective. Thanks for sharing. Yup, developer's margins are being squeezed. Prices are down, and the cost of construction keeps going up. Ed

[@randomas8634]

Complaints about insulation laws are telling on yourselves. Our building laws allow some really shoddy housing to go up, increasing the quality is a good thing.

[@roilhead]

The new insulation laws have pushed the price of building new beyond reach for most. We are about to experience the worst housing crisis that NZ has ever experienced due to Labour's lack of foresight & understanding of what they were doing. New NZ houses are warm and dry, there was no need to push this through and destroy the new house build industry. What NZ hasn't figured out yet is that a large number of the newly trained (on our tax dollars) builders are now in Ozzy and we will not have enough tradies to kick start the building industry once house prices rise. Thankfully we have cut the media funding for the one eyed socialist media and this can be called out once it turns to crap!

[@opes_partners]

@@roilhead How much do you reckon the new insulation laws will add to the cost to build? Genuinely interested to hear your perspective. Ed

[@stephenmascarenhas1987]

The labour government and RBNZ have not fairly treated the older homes that most of the mum-and-dad investors have used for their future savings. I wish this bias could be challenged legally.

[@stephens2850]

So if you buy that new house for $550k with 20% deposit and rent it for $500pw your mortgage will be $700pw so how does that work?

[@yoyoyoyo91054]

Mate nobody wants to pay much over RV these days, this senario of a 550k home with 50k of Reno’s gaining 100k in value is very difficult to achieve.

[@roilhead]

What about Jacinda putting in the new insulation laws that have made new builds uneconomical? The tax was a nothing burger.

[@opes_partners]

Really interesting. My understanding is that the new building code is putting extra costs into builds. That does also mean that New Builds should be built to a higher standard than existing properties. Ed

[@johnnymcauley3314]

It may cost more but it’s definitely needed. What’s the point in building cold shit houses. Europe was putting in better insulation 20years ago

[@habib_the_panda]

Why does your nose always sound blocked?