Should I buy an existing home or a brand new one?

Wednesday 19 Jun 2019

BUYING AN EXISTING HOME OR A BRAND NEW ONE


Buying old
•    Older properties are sometimes cheaper than new ones, depending on the location and condition of the property.
•    Older homes offer charming period features and, often, higher ceilings, quality timber floors and unique architectural features.
•    Older properties may need renovation of major systems such as heating/cooling, wiring, plumbing and roofing. They can however, offer significantly more margin for turn around and profit.

Buying new
•    New homes are designed to suit today’s fashions and lifestyles. They’re more likely to appeal to a wider market of tenants if well located.
•    New properties may entitle you to claim depreciation, giving you extra tax benefit.