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Updated over 2 years ago,
New Construction VS Older properties for the beginner.
Hi Everyone!
I'm a beginner and would like to know if you think a new 4PLEX construction (House Hacking) is better for the beginner rather than an established older property?
I spoke to someone that advised me that there's pros and cons to a new construction and older property of course. However, for a beginner it's recommended a new construction in an upcoming location.
The rationale to his advice was to avoid extra expenses that come with renovating as a newbie and the minimal complaints I'll experience from tenants if i have a newer property. Also, some warranties that a new construction may come with that will be covered in the first 1-5 years, depending on what issues that is.
I want to get feedback from other people.
New construction price range is higher but has a better ROI in a growing location as I been told. I'm wondering if this may be true in some aspects?
Thoughts? Thank you!