Buying New build

Yes, you did read that right - I bought a new build flat this week and even I was shocked.

The reasons why I don't normally buy new build are;
-It's hard to get an accurate value
-Valuers don't believe the discounts on purchase price 
-Many investors buy off plan then sell as soon as it's ready, depressing the value, or if they decide to let, often get scared of voids and then drop the rent to get it let. This makes it harder for the remaining properties to be let at a realistic rent.

So why did I buy it ? Well, it
-was the last flat in the block of 12
-has 2 bedrooms one with en suite
-is in a small market town 20 miles from Manchester, with train links to Leeds and Manchester
-had a real discount
-it was larger than average at 1000 square feet
-the way I've structured the deal means I'll only have to use £5,000 of my own cash
-I took counsel from a local knowledge
-I trust the introducer

Even after all those reasons, it's still a departure from my tried and trusted method, but it was an easy way to dip my toe in the market.

Comments

[Property Amateur]

I've always been worried about buying new build because of your first point "It's hard to get an accurate value"

Unless I know i'm getting a significantly great deal, I wouldn't even look at new builds.

I've been tempted to buy off-plan contracts, and then selling them a few months down the line, before more deposits are required. But again, judging the value is a bit of a grey area, for me.