Frequently Asked Questions

Frequently Asked Questions

Frequently Asked Questions

If you are on our website, you can fill in the form at the bottom of the page, to receive a general Classic Property information pack and register your interest to hear about our upcoming properties.

A turnkey home is a property that is ready to live in when you purchase it… there is no extra work needed. Our properties are brand new, built to high standards with all healthy homes and landlord requirements taken care of, making them ready to immediately rent out and receive rental income from.

The properties are all freehold (you own the ground beneath), and therefore there is no body corporate. You are responsible for paying your own rates, organising rubbish collection etc.

The features will vary across each investment property, you can find all the specifications in the development specific information packs.

The price of each investment property is fixed, the only change to the market price will be if you choose to upgrade any of the products used in your build, this will be determined at the time of signing the contract on your investment property.

Yes, all prices include GST.

Whilst the legislation is frequently evolving, the recent announcements were to curb rising house prices on existing builds. Given there is a shortage of housing in New Zealand, many of the rules introduced excluded new builds including extension of the bright-line test, tax deductions on interest paid and loan-to-value ratio restrictions.

Our building partner is typically Classic Builders (part of the Classic Group), on some occasions we will use other trusted local build partners. The build partner will always be clearly outlined in the design specifications in the development information pack.

Yes! All our properties come with Classic After Care, meaning from the completion of the build you will have a 12-month warranty whereby we will remedy any faulty materials or workmanship in the items supplied or undertaken by the vendor, except those arising from wear and tear.

In addition to this, your new build is also covered by a 10-year warranty for anything structural.

Yes, all of our properties are built to meet all the required standards for ‘Healthy Homes’ as outlined in the Residential Tenancies (Healthy Homes Standards) Regulations 2019. Which includes a standard level of heating, insulation. ventilation, moisture and drainage and draught stopping.

Due to the latest LVR restrictions, most investors require a 40% deposit to purchase an investment property, however if you are purchasing a new build investment property you will still be able to get a loan with just a 20% deposit.

You are required to pay 10% of the total purchase price as a deposit at the time of signing your contract. After that you can choose to make progress payments throughout the build or pay a lump sum at the completion of the build.

Classic Property is a leading property management organization that is part of the Classic Group. Our professional team will take care of everything from marketing, tenant vetting, payment processing/disbursement, inspections, and maintenance.

Classic Property will take care of all remedial work and maintenance on your property. Depending on what package you select, we will come to you for approval of any maintenance expenses above certain thresholds.

Yes, they are built to meet the requirement in the New Zealand Building Code.

Get in touch with our team and we’ll be happy to help answer any more questions you may have.