Off-Plan, Build-to-Rent, or Traditional Buy-to-Let?

With the property market constantly evolving, investors are faced with more choices than ever before. Glossy new-builds, shiny rental blocks and off-plan incentives might be getting the headlines—but for many landlords, the tried and tested traditional buy-to-let model still wins out.

In this blog, we’re comparing three common investment routes in 2025: off-plan purchases, build-to-rent schemes, and traditional buy-to-let—the kind of high-performing stock Donelan Property specialises in.

Off-Plan.

Off-plan investments involve buying a property before construction is complete - often before it even starts. You usually pay a deposit upfront, then the rest on completion. The draw? Developers offer early-bird pricing, with claims of 5–20% below full market value and the promise of capital appreciation by the time the property is ready.

But, in our opinion, here’s the catch: developers tend to overinflate the property’s “end value”, and what looks like a deal on paper doesn’t always hold up in reality. In fact, once the property is completed and you get the keys, there’s often a “new-build premium”—a bit like buying a brand-new car—that drops off quickly in the resale market.

What this means: Unless you’re in a very high-growth area and working with a reliable developer, you could end up overpaying for a flat that loses value in the first 5–7 years. It's a high-risk strategy that requires careful vetting and patience.

Build-to-Rent.

Build-to-rent (BTR) properties are usually part of large, purpose-built rental developments. They’re modern, well-managed and tenant-focused—with on-site amenities and professional landlords. Investors can buy individual units or invest indirectly via funds.

The upside is that these properties are often low hassle with professional management baked in. But that convenience comes at a cost: yields can be lower, service charges higher, and control more limited.

Plus, just like off-plan, many of these units are new-builds, meaning investors still face inflated valuations and depreciation over the first few years.

What this means: BTR is attractive if you want a passive, low-touch investment—but it may not deliver the returns or flexibility of other models.

Traditional Buy-to-Let.

Then there’s traditional buy-to-let, buying a property that already exists, [EL1] maybe doing some refurbishment, and taking direct ownership and control. This is the space Donelan Property operates in, and in our view, it’s still the most reliable and adaptable strategy out there.

Why? You’re buying based on actual market value, not speculative developer pricing. You can see the condition, review comparables, and likely assess[EL2]  real rental income—before committing. These properties are often in established residential areas with proven demand, not part of large, cookie-cutter blocks.

What this means: Traditional BTL gives you more control, better transparency, and fewer surprises. You can refurbish, revalue, refinance, or re-let on your own terms. And if you wanted a hands-off investment then you can use a really great management company to handle the lettings for you – we might be biased, but we recommend using our lettings side of the business to do this!

At Donelan Property, we believe in investments that stand the test of time. We specialise in traditional buy-to-let because it offers real value, long-term resilience, and consistent returns to build your future investments sustainably, without relying on the hype or promises of developers.

So if you’re weighing up your options, we’d always recommend starting with a solid, existing asset—and building your portfolio from there.

Ready to invest smarter? Get in touch with our team to find out how we source high-performing BTL properties tailored to your goals.

Sources:

https://rothmoreproperty.com/property-news/off-plan-vs-completed-smart-investing-manchester-2025/

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