Types of Homes to Buy for Real Estate Investment: 3CALoan

Nowadays it’s being very trending for investors to seeking out newer property and add that property to their rental portfolio. From last many years, older homes were the popular choice for many investors, especially among DIY-ers who loved the rehab process. After some time, there seems a change in most investors that many investors started preferring homes less than 10 years old. So, it is one of the most important questions for everyone who wants to invest their money that which types of homes to buy. Whether new or old?

Advantages of a Newer Home

There are some benefits while opting for a newer home for an investment purpose. For people who have just started to invest in homes:

In the newer homes, you have to take less worry about the home repairs.
According to the age of the home, you will recognize easily that how will be the condition of major systems like electrical and HVAC.
In newer homes, you will have a more updated look which will look like today’s renters.
In newer homes, many things are common which is not common in old homes like open concept floor plans, granite counters, and other higher end finishes. So, in these homes, you have to do less work to bring the home to the standards the most renters expect. You will also have the potential for higher rental rates, as tenants will pay you more if you have the newer home with nice finishes.

Advantages of an Older Home

While an older home may not have the most trending granite countertops and stainless steel appliances that will attract most people’s eye, but they do have their own perks:

You can renovate the home to bring them into the current decade and allowing the owner to select their own finishes and colors.
Older homes are mostly located in established neighborhoods, with mature trees because of their age.
Generally, Older homes are located near local amenities, like parks, shops, restaurants, and public transportation.
Even after changing to the standard beige color scheme, it will look like similar to what you’ll find in many newly built homes. The older property will likely still exhibit features that set it apart from the neighboring homes. In other words, they are less cookie-cutter and more personality.

Which is Best – Old or New Home?

Again, we are on the same question that which is the best types of homes to buy. As many investors have this question with other questions in their mind. But the truth is there is no easy yes or no answer. It will depend on your situation and goals. In older homes, you may find good to save more money while purchasing an older home but maybe the amount of renovation and repairs will be more than the amount you bargained. On the other hand, you will pay more while buying a new home, but you save money in renovations because their won’t have any renovation cost in new homes. You will have another option that you can buy an older property that’s already been rehabbed that means it will be fully updated, you will get a like-new property without the new prices.

Final Thoughts

When it comes time to choose which property is right for you, don’t let it come down to just old vs. new. Do check all the criteria and all types of homes to buy involved before making your decision. We know that sometimes people have a harder time for getting a loan. That’s why we offer multiple different alternative financing options. Don’t rush during the process and avoid the common mistakes with loans. Contact us and we’ll be happy to answer any questions! We offer multiple different alternative financing options. You have to be careful and avoid making any costly mistakes. Our competitive rates, efficient services, and talented team can help ease the process of the home loan. We help our customers every step of the way. We prioritize informing and educating our clients about the home buying process.

3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, without tax return, Private money loans for real estate, private hard money loans, bank statement home loan, bank statement loan, equity loan and many more. Our client’s happiness and confidence upon closing a deal reflect our excellent quality services. If you still have any doubt, you can contact us at (818) 322-5626 or (818) 3CA-Loan today! Our specialists will be in touch promptly to answer your questions. We will run you through the details of home loans and hold your hand throughout the process. We only have one aim of helping people first.

Real Estate Blog Directory blogville iBegin