Friday, May 17, 2019

NEW PROPERTY OR OLD PROPERTY?





                                              
If you are planning to buy your new home, it is important to ask yourself the following question: Should I buy a new property or an old property? Both offer some benefits worthy of being considered, although they also involve certain risks. Here are some of them.








INVESTMENT

Both new and old properties are expensive. Classic and old-fashioned properties tend to have higher prices due to their location, that is to say, their proximity to busy areas, parks, schools and other amenities. By the same token, depending on their size and luxury services, new properties are also usually expensive, but if the property has not been refurbished, the price could be lower than an old property.

QUALITY AND AMENITIES

Pros

In terms of construction, old properties are resistant. Many of them have survived for decades, and have endured natural disasters, since many of them have been built by artisans who meticulously sought perfection for details.

On the other hand, new properties are also made with the purpose of guaranteeing durability. In this sense, new owners will not have to worry about remodeling. In addition, they offer everyday appliances in good condition and other amenities such as gym, parks, laundry, and doorman.

Cons

The probability that an old property needs to be repaired is high. In the case of houses, chimneys and floors could be inclined. If a house was built before the construction of sewer systems, the latrine can overflow. In addition, they could have flaws in the wiring or electric system.

LOCATION

Unlike new properties, old properties are usually close to entertainment venues. Besides, they are located in central areas of cities.

In conclusion, both options have many strengths and weaknesses. Nevertheless, before making a decision, we recommend to analyze the conditions of the home you want to acquire with a professional, depending on your needs.

No comments:

Post a Comment

Copyright 2012 Miami Riches. All rights reserved. 1800 SW 1st Avenue. Suite 504. Miami, FL. 33129. Tel (305) 600-3198. Fax (786) 533-3921. info@miamiriches.com