Ready and waiting: Major perks of a turnkey property

One of the benefits of the UK property market is the wealth of choice available if you’re looking for a property to buy. From period properties and high-rise flats, to character conversions and new-builds. Despite the different types of homes on the market, buying a property is still a big decision. It can also be an expensive business if further renovations and work is required after you’ve moved in. 

This is why some people opt for a turnkey solution, preferring a home that is ready to move into. Although it comes down to personal preferences, such as budgets, locations, and type of properties, buying new-build homes does come with certain benefits that are an increasingly attractive option for home hunters across the UK, as this article explores.

What is a turnkey property?

For investors and buyers who don’t want too much to worry about, a turnkey property comes fully renovated, furnished, and ready for immediate use or rental. Today’s investors are seeing the advantages of these properties with 41% of purchases being made for off-plan properties and 25% for new builds. These developments follow a strict due diligence process which investors know and trust in addition to other key benefits of turnkey properties, such as:

• Move-in ready: The property requires no repairs or renovations before occupancy.
• Fully furnished: In many cases, turnkey properties come completely furnished and equipped.
• Operational: All systems, appliances, and utilities are in working order.
• Compliant: The property meets all legal and regulatory requirements.
• Rental-ready: For investment properties, turnkey often means the property is ready to be rented out, sometimes with tenants already in place.

For most buyers, the primary appeal of a turnkey solution is in their immediate availability. Unlike traditional purchases that might involve lengthy renovations or repairs, turnkey homes are good to go from day one. They are particularly appealing for investors, busy professionals, first-time buyers, and investors looking to minimise downtime between purchase and profitability. 

Choosing a turnkey property lets you sidestep the sometimes stressful and time-consuming process of home renovations. Having said that, developers will often consult with you and allow you to choose inspiring layouts for your bathroom, kitchen, and landscaped garden. For example, if you’ve always preferred an in frame kitchen over an open-plan configuration, you often have a say in interiors and design preferences. 

Avoiding your own renovations lessens the stress of coordinating multiple contractors, managing timelines, and dealing with unexpected issues that often arise during build projects. This time-saving gives you the time to focus on other priorities, whether personal or professional.

Welcoming and contemporary

From better security to meeting new friends, living in a neighbourhood has plenty of positives especially if you are new to an area. A new home in an unfamiliar location can be daunting, but many turnkey developments usually form part of a larger, new-build estate. In many cases, they pass the planning process because of the local amenities and facilities that developers agreed to include in the wider residential area, such as parks, communal gardens, pharmacies, and other shops. 

This community aspect can be great for getting to know people nearby and especially valuable for families with young children or people who live alone and are keen to make friends in a new location.

Contemporary feel and energy-efficient

While the initial price of a turnkey property might be higher than a fixer-upper, the long-term cost benefits can be significant. Buyers avoid the hidden costs associated with renovations, which often exceed initial budgets while the high-quality finishes and contemporary designs in turnkey properties can command higher rental rates and resale values, potentially offering a better return on investment. 

According to reports, 75% of renters expect rental costs to rise and want sustainable properties that are less expensive to live in. Turnkey properties typically feature the latest in energy-efficient appliances and systems and new homes must have smart meters in place when they are constructed to make them more energy-efficient. 

In previous years, having a smart home was considered a luxury, but with turnkey solutions turning greener, the high-tech home lifestyles are widening across mid-range and high-end homes with this market predicted to grow 12% from 2024 to 2028. Being able to live in a sustainable property contributes to reduced utility costs but also aligns with the growing demand for eco-conscious living. From smart home technologies to high-efficiency HVAC systems, these modern amenities enhance the overall living experience and property value.

Bespoke design opportunities

As mentioned earlier, and contrary to the misconception that turnkey properties aren't personal, developers offer buyers the chance to customise features of their new home. Aside from the ‘ready to move in’ benefit this opportunity to choose designs is appealing. Rather than having a stressful move, having the opportunity to choose designs that reflect your personal tastes and lifestyle can make your move far more exciting.

As a new owner or investor, you’ll be given an option to select and customise many areas of your turnkey home, including:

• Choosing cabinet styles, on-trend colours, and finishes
• Selecting countertop materials (e.g., granite, quartz, or marble)
• Picking appliance packages that suit cooking preferences
• Deciding on lighting fixtures and backsplash designs

Whether you plan to live in it yourself or let it, this level of customisation means you can put your personal stamp on the property before you’ve arrived with your boxes.

Immediate rental income potential

For investors, turnkey properties offer the allure of immediate rental income and, for renters, they can be cleaner and more sustainable, with a blank canvas to personalise when you move in. Even without existing tenants, the move-in ready status of turnkey properties means minimal delay in settling in or getting them ready if you are planning to let your property quite soon after you’ve invested in it.

From an estate agency’s perspective, their modern designs and up-to-date features make many turnkey properties attractive properties to rent out, let, and manage. They are well-positioned to meet market demands and tick off many of a renter’s preferences. For investors, they are valuable options if you’re looking to expand your portfolio with minimal fuss and less hands-on management experience.

Meanwhile, because they are newly-built, these properties have a much lower maintenance burden and are arguably, easier to manage. Reputable turnkey property providers prioritise quality in their renovations and constructions. Aside from snagging, new homes are built with regulated and high-quality materials, reducing the likelihood of major repairs in the near future. Many properties also come with warranties on new appliances and systems, providing additional peace of mind for buyers and investors alike.

In addition, turnkey properties comply with current building codes and regulations that would have been checked and implemented at the construction stages. This compliance can save buyers and investors from future legal headaches and unexpected costs that you won’t want the shock of facing further down the line.

From the ability to customise your interiors to the ease of receiving rental income with less maintenance, renovation or repair jobs upfront, turnkey properties appeal to buyers and investors with a wide range of buyer preferences and objectives. 

Therefore, as the UK property market continues to fluctuate, new-builds seem an attractive purchase. Their benefits make them a compelling choice too, whether you're a first-time buyer, a budding investor, or a growing family looking for a hassle-free solution. If you're looking to buy a new property or other property types, we can help.

This post was written by guest blogger, Annie Button.