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Older Rental vs. Newer Rental – Which One Is Better? 

Are you planning on buying a rental property to add to your portfolio of investment properties? If so, you may be debating if you should purchase a new rental property or an older rental. As a top beach management company, we know how difficult it can be to choose the right rental property, that’s why in this article we will break down the pros and cons of buying a new vs. older rental. 

What to Expect When Buying an Older Rental Property 

Pros – One of the benefits that comes from buying an older rental property is that it may need renovation work and you could submit an offer which is lower than the owners asking price, then buy the property for below market value. 

Cons – Since the property is older, it’s entirely possible that the home is going to need extensive work done especially electrical, mechanical, or foundation work. These repairs can add up so it’s best to weigh the costs before buying an older property. 

What to Expect When Purchasing A New Rental Property 

Pros – The obvious benefit of purchasing a new rental property is that since everything is new, the construction may still be under warranty. These warranties can save you big money especially if something goes wrong during the first few years that you own the property so it’s best to keep this in mind before making your purchase.  

Cons – If the property is in a new subdivision, it’s possible that there isn’t comparable market data for you to see how much your property should appreciate over the next 5 years. An area that’s not as established as others might not have the best restaurants or amenities either so these are things to keep in mind before purchasing a real estate property

Get San Francisco Property Management Here 

For professional San Francisco Property Management, contact Utopia Property Management today by calling us at (800) 294-4656 or contact us through our website

Elly Johnson stands at the forefront of content research and online branding at Utopia Management. As the Content Marketing Manager, she delves deep into understanding local real estate and rental markets, fueled by her passion for travel and keen research skills. Elly is dedicated to empowering individuals with the knowledge they need to make informed decisions about where to reside. A proud alumna of the University of South Florida, located in the vibrant heart of Tampa Bay, she holds a Bachelor of Arts in Psychology. Her academic background and extensive travel experiences uniquely position her to provide insights that resonate with diverse audiences.

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