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Updated almost 18 years ago,
Starter home/Investment question
Good Day everyone, glad to find a real estate forum. My fiancee and I are on a somewhat heated debate about what type of property to invest in and make it our first home for about 4-5 years. We live in the greater Miami area and as all of you know, it's one of the most speculative markets out there. The city is overflowing with new condos and projects and a booming downtown area trying to emulate a Manhattan environment. I want to invest in a smaller property on one of the new condos with all the brand new and modern amenities thinking in the long run it's going to hold its value, she wants to invest in something roomy (2 bedrooms) but old, we have a couple of nice old condos (1961-1982) with big apartments facing the bay. I'm afraid that when the market picks up, newer property is going to sell faster and that the development of brand new condos on the market will hurt old property sale. What do you guys think?
a small 1 bed in nice new condo? or a spacious 2 bed in old condo?