New Vs Old

Hi, look, I just decided to come on today to talk about, because a lot of my clients are talking about why should they buy new compared to buying a secondhand property. And I thought it was really important to get it on the, on down on paper and just really get, get it really clear. And look, there's five key fundamental reasons why you'd buy a new property right now for your multi generational wealth. Hi, I'm Dax. I, I help people grow multi generational wealth and I love helping them grow that and see it just accelerate over time. So let's get on to the five points. So the first point is all around maintenance. You're buying a brand new property, it's got the brand new smell. Maintenance, there's also almost zero if there's any nothing wrong with it. Our quality checkers make sure that everything's done really well. So maintenance is really low when you're buying a new property, an old property, sorry, secondhand property, yes, you can get a building and pest inspection but that doesn't hold them accountable either. Things could be wrong in there. There could be lots of fix ups and, and maintenance is a lot higher, especially over that, you know, 15 year mark. And you got to be really careful of that, okay. And keep your costs down to keep that cash flow going. Okay? The second reason why you want to do because depreciation is king. When you're doing cash flow, especially with your first few properties, you want to get that cash flow coming in and the government gives you a tax depreciation as the building deteriorates. And that only happens with new properties, older properties, depreciation is done and you don't get as much or nothing at all. And this is really key. We can get a variation on your tax and we can get that cash flow increased on your payroll every month. And that's depreciation is really key to growing that wealth because you can put that straight onto your home loan, pay off your home loan earlier, increase your equity and buy again. Now the third one's really critical. Now when you buy something new insurance is really key. It's one of your biggest assets. You know, with your car you've probably got comprehensive insurance. So, so if it gets knocked, you just pay excess. Well, there's two insurances you get with new properties. Okay. One is the builder's warranty, which is around six months. And what we do with our clients, we make sure just before the six month mark we get a review of the property to make sure there's nothing that needs to be done. Before that insurance expires. Okay. The second insurance is the structural insurance. Okay. And in some places, like Queensland structural insurance, you've covered for six years. And we want to make sure just before that six year mark, we get our quality engineers in to make sure the building hasn't settled or cracked or anything like that. And if it has, it's covered in insurance and we get it fixed up. So that's, that's one of the amazing benefits of a brand new property. Old properties you don't get that you're buying as seen and you got to take that risk. Now the fourth reason why you want to buy new properties, the new car smell, new tenants. New tenants love new properties. They'll bounce from one new property to another around a certain area that they want to live in because they can do that. Yeah, the overheads of getting into a new rental property is nothing compared to buying into a new property, stamp duty and all that sort of stuff. So we attract the best tenants in the area. Not only that, we do great advertising and other things that I'll tell you in a further meeting or further interview to talk about those. But yes, we do get the best tenants in the area. And finally, the fifth point is a Warren Buffett saying, which is buy long and never sell. Now we do multi generational wealth plans and we make sure that, you know, you never sell these properties. They're an asset that puts money in your pocket every month, increases in equity every year. So we can go again and again, you can retire on these and then you can pass them on to your kids if you do want to sell. The selling costs here in Australia are ridiculous. You know, you've got, you've got all these things that you need to be and we can talk about this in another time, but it's really expensive to sell and also get back into the market if you're selling and buying in that space. So I hope that's helped you understand what the benefits of new versus benefits of old. If you want to have a chat, please click the link below or comment below. Or if you know somebody, this will really help. I'd love you to send it to them and hopefully we can help them. Have a great day. Cheers.