Are you planning to invest for your first or next property? Do you have options to choose from old and new properties? Well, it’s a common practice to experience such a situation where you need an exact guide to choose the best option to go for investment. Whether your investment is small or heavy, you must know the different choices available to you for better return on your investment. We will take you carefully through both options to guide for the decision on your next investment.
Part 1 – New Property Case Study:
Modern Style Preference
It is very common that investors always prefer newly built properties with modern design and new era taste. The latest trends and styles like wooden work, latest finishes, swimming pool, beautiful landscaping etc. These features attract the most investors according to their needs and lifestyle.
Negative Home Inspection
You really don’t need to worry about home inspection because usually the newly built properties are free from such problems like bathroom pipe leakage or centralize AC not working properly or whatsoever but this doesn’t mean that you shouldn’t do the home inspection, it is always recommended because you might find out something which you come across after moving in.
No Extra Work
This is very true that brand new properties never get you on board for some extra work to do before steps in like renovating or repairing. These properties are always ready to move in without any extra work and efforts. Renovating doesn’t mean the changes you want for your property, you can always change the parts of your property you want to see in different style like paint, wardrobes, kitchen cabinets etc but this definitely cost you extra.
No doubt, with new properties, you always save your time and there will be no extra money spends out of your wallet as there will be no maintenance works for brand new like properties. This could be an advantage for the investors to increase their ROI later. Brand new properties at least last for 5- 10 years which taken good care of them which keeps you away from “Do It Yourself” timeline, this could takes your extra precious time and even more money to do the work.
The modern design properties have more potential and can be re-sale with good market price as analyzed by the good books of real estate market. The real estate experts come up with the study that investors always emphasize to buy new properties instead of old and the reason is merely be the reselling plan they have in their mind before investing for a profitable return on investments in future.
There are many more factors we can go through to come to the conclusion that keeps more secure with a lucrative decision to either go for a new property or old property for your investment but the major points are above that we discussed, we surely list out the factors in our next part where we will have a look that part of investors prefers to look for old properties to invest.