Are you about to make a rookie mistake?
There are many first time investors who do not consider the advantages of buying new property versus old property and are quite often caught in this situation because they wish to only buy locally where they live and only old properties are available.
Advantages of Purchasing A New Investment Property
- High depreciation and tax incentives available
- Very low maintenance costs
- Tenants mostly prefer to rent new properties
- New is much easier to resell
Disadvantages of Purchasing An Old Investment Property
- Little to no tax depreciation
- High maintenance costs
- Harder to rent out
- Limiting resale opportunities