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The Pros and Cons of Buying a New Property as an Investment

It is human nature to prefer brand new items over used or old ones. Whether you are talking about cars, shoes, mobile phones, computers or appliances, you are almost always advised to go with brand new. But cars, shoes and the rest depreciate over time. Property on the other hand, will appreciate.If you buy an old home, it will cost you less and proper renovation will enable you to enjoy a hefty profit. But what about buying new property?According to a survey by Trulia, the ratio of people who prefer to buy new property to old property is better than 2 to 1. By definition, a “new home” is brand new or never been lived in. It can also be a home that is purchased during its pre-construction stage.So is it really better to buy a new home? Logic and a sense of pragmatism say, “Yes”. But before you decide, here are the pros and cons of buying a new property: Pros: 1. Customized DesignOne of the fun things about buying a new property is having your say in the design process. The architect or developer will surely welcome your inputs so the house can have elements that best represent your personality. It’s literally having the dream house you’ve thought about your entire life built before your eyes. 2. Ready For Move InIf you’re not the type who wants to wait one and a half to two years having your home built, you always have the option to buy newly constructed houses. There is no need to review design drawings, color palettes or debate whether the stairwell should feature stainless or...