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Are townhomes good rental investments?
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Yep, the New Yorker nailed it...
Are townhomes good rental investments?
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Mentor
You pay a premium for customization and being brand new. It’s worth it
If you're staying that long, buy it!
Mentor
Don’t try to time the market. If the house works for your budget and will keep you from paying rent then it is still a good move, even if prices stagnate or decline slightly as long as you live in it at least 5 years
Definitely not trying to time the market. Just looking into insight if new construction is a good investment as a primary property, versus existing home. Especially considering that for new you’re paying anywhere from 10-30% higher for the same size property, within the same location.
Subject Expert
I bought new construction 20 years ago. I’m very happy with it.
Subject Expert
If it’s a primary and you plan to live there long term, as long as it’s within your monthly budget, go for it. You’ll never time it perfectly
Subject Expert
Are you buying an investment property or a primary home?
Subject Expert
As long as it fits your budget, I can’t see any reason why you should be concerned. The biggest things that drive value are the condition of the property and the amenities and upgrades. Unless the house is historic, I can’t see why a 5 or 10 year old house would be more or less valuable than a 20 or 25 year old house in similar condition and similar level of upgrade / amenities.
Where?
As long as you are not “overpaying”. What i mean is that your comps are around a similar price of this house and you are not paying over the appraised, then you should be good
Your primary home is not really an investment unless you are buying in an area that is developing from a lesser socioeconomic state to a higher one. OR you plan to rent that property out in a 1-few years and move to another primary residence. One of the quick ways to get rental properties under your belt