Does the Age of a Property Matter to Investors?
Many real estate investors are torn. “Should I invest in a new home where everything – appliances, carpet, paint, etc. – is clean and gleaming OR should I put my money into an older home with its charm, its magnificent trees and larger backyards?
New homes, defined as being less than 10 years old, offer the promise of quicker rentals and few, if any upgrades. Lots of renters prefer a home whose electrical, plumbing, HVAC, windows and appliances have never been used. Therefore, you can potentially rent it at a higher rental rate and have little or no maintenance issues to take care of.
On the other hand, older homes are most likely situated in older neighborhoods with good walkability to schools, hospitals, retail centers, and transit. Sure, the home may need a few upgrades, but new homes can’t compete with beautiful yards and tree-lined streets.
Plus, there’s a real sense of community you may not find in newer neighborhoods.
Read on at: https://bit.ly/3nMzXN4
Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.