Conversations with a Pug – Can an older property still be a good investment? |

Conversations with a Pug – Can an older property still be a good investment?

Can-an-older-property-still-be-a-good-investment

 

 

Existing properties can make excellent investments.
As with any big financial decision it’s necessary to thoroughly map out what you want to achieve from your investment at the outset, as well as the potential advantages and disadvantages of purchasing an older property.
Why existing properties make good investments:
  • You have a clear rental history with an older property, so you know you’re your potential income might be from the start
  • Some existing properties already have tenants – so you won’t have to spend extra cash finding someone to help with your repayments
  • You can quickly add value to an established property with smart renovations or landscaping
  • You’re not buying sight unseen as you do with off-the-plan investments – so you know what you’re getting and how it will work for you.
Be Aware:
  • You may need to do immediate repairs or renovations to appeal to tenants willing to pay premium rent
  • You can claim higher depreciation from new properties than established ones
  • Older buildings might need more maintenance
  • Established properties don’t have stamp duty exemptions.
If you have any questions on whether investing in existing or new properties is the right choice for you, reach out and let’s talk.

My Very Best To You Always,

 

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