When choosing between a shiny new launch and a well-maintained resale condo for your investment property, here’s the key tip: Consider whether you are a new landlord or seasoned investor.
One popular argument is that investing in resale units are less risky for new landlords, while new launches are better suited for seasoned investors to assess. Bear in mind that when you’re buying an investment property to rent out, you have a different set of considerations from the typical homeowner. That means looking at things in terms of cold, hard numbers, and how pretty (or otherwise) a property might look could matter less.
Regardless, if you’re buying for investment purposes, this article might help you make a wise choice between a new condo versus a resale unit.