IP - New house and land package or an existing property

I have been following the forum for some time and have been reading people views about old and new properties.

I want to take the plunge and get an interstate investment property (most likely in QLD).

As per my understanding, the new properties are low maintenance, have some tax benefits, and will attract high rents but will have a small land size.
However, the old property will be in an established suburb and will start generating income very soon.

I am personally okay with both but a little worried about the maintenance of the property when I am overseas or interstate. I am one of the committee members in my block of units and have seen huge variances in tradies' quotes.

NOTE: My apologies if this question is too dumb for you

 

The issue with brand new is a lack of scarcity Add to that, there's often HEAPS of land still waiting to be developed next door, meaning lots of supply. I'd always go established given the choice.

 

Usually low or no growth (or a loss) depending on the area in outer Brisbane.
Not necessarily high rents if there is a lot of similar stock coming on the market at the same time.
Low maintenance and tax benefits are not much use if there is not much growth!
I'd go established every time if looking in Brisbane.

 

Established house. Anytime.

New properties attract a lot of premium. Depending on the type of property, it could take several years just to recoup the premium paid before you start seeing any capital growth. You may receive better rents but it wont count towards being a good IP if you cant achieve capital growth Even with maintenance costs, there is no guarantee that there wont be any. There are plenty of sob stories where the build was found to be faulty not long after it was built. Also, as you maybe already knowing, its the land that appreciates and houses depreciate. So a good land component, in a good suburb is always the safest bet.

Maintenance costs are just another cost of doing business. Hire a good PM who would take care of any maintenance issues for you.