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Should you buy an establishment property or build new?… Have you ever noticed that all the spruikers seem to suggest that new is best!
You could choose to build a shiny new house that is free of maintenance woes, and has a bevy of tax benefits However it’s possible that the land itself will not appreciate as you hoped it would in the long run. What about an established area that is tried and tested for growing your wealth in the years to come? Yet with most old properties, you also inherit some old problems.
At the end of the day, it all comes down to what is going to best suit your situation and goals. But that’s putting it simply.
Listen in now as I would love to share the insights I have learned over the years. On the good, the bad and the ugly of both old and new properties. And hopefully, help you figure out the property age that’s right for you.
Episode Highlights:
- The Three L’s of Property Hunting [01:44]
- Applying Einstein’s theory on the power of compounding [03:12]
- Being aware of other location factors in the property you are investing [05:36]
- First two reasons to buy new: tax benefits and quality tenants [08:14]
- Third reason to buy new: less maintenance, less headaches. [10:14]
- Fourth reason to buy new: new property brings higher property yield [11:34]
- Competence of older but well-maintained properties [12:56]
- Summarizing the pros and cons of both old and new properties [12:56]
About Our Host:
Jarrad Mahon is the go-to guy in property management and investment in Perth, giving you his insider view on the Perth market and the strategies needed for you to grow your wealth and improve your life. All you need to do is to stay tuned!
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