New vs Old

New townhouse:
* 3 bed, 2 bath, 2 parking
* 2 years old,
* 3 storeys, master bed on top floor
* On main road

Old townhouse:
* 3 bed, 2 bath, 2 parking
* 30 years old
* 2 storeys, all beds on second floor
* On side street

Both have similar living size and same pocket in same suburb.

Price difference: $200k cheaper for the old one.

 

Which one is the more expensive of the 2?
NEVER on a main road.
New also will have building teething issues for a few years, the older one probably has this sorted by now (but check strata records).

 

+1

 

Old house on a main road possibly. New townhouse on main road avoid.

 

The old house is not on a main Road, that's a +.
And with 200k price difference you can definitely renovate it, add a granny fat... many options there! and probably still have a lot of money in your saving account for next one.

 

I think it's a townhouse, so there should be enough room for granny fat but unlikely enough land component for a granny flat . Given the limited amount of information provided, I'd opt for the old townhouse.

 

I will only pick new when the economy is really bad, people begging you to go in(like free champagne) to check out their new property as they really need the cash else they go bust.

The one and only one good thing about new property is, during the initial boom after a down turn, new property tends to go up a lot faster than the old property, which you can use that into your advantage at selling the new and buy few old ones while their prices are still lagging.

 

When sales people show you new properties, they tend to compare them with other new property sales.

The problem is that in a year, that place won't be a new property, it will be an old property and that's will it will be compared with in the future.

 

Yeah, i like old one myself too, but when thinking of the tax benefits from the new one, it's a little tempting. Plus, the old one has a bad number of 44... oops. LOL

 

Old. Any day of the week in this scenario.

That 200k difference gives you lots of options for Reno's or even buying another property.

No brainer.

 

Difference in rents?

 

Old one probably $550. New one prob $750.

 

What about if you have the old one a 40k Reno?

Oh and what are the body corp costs? Are they comparable?

 

As long as granny's not so fat she can't fit through the doors.

 

What's the difference in potential purchase prices?

As someone else has said strata is important too - and likely to be lower in the older block.

I'm leaning towards the older one.

 

older home. I really like the feel of older homes, and they tend to have better quality building materials used. For example, hardwood kick boards rather than MDF. That means you can sand and paint, and not replace every 5 years because the MDF gets a little wet and bowed if you mop the floor. The older home may even have more thermal mass, as larger timbers may have been used in construction. The fact that the bedrooms are all on the same level and it's only 2 stories and not three is a bonus. It opens it up to more buyers, families with young children and older people that don't want to get up two flights of stairs to climb into bed. It sounds like it is in a more established quiet neighborhood.
$200K cheaper! You would be getting a lot more value for money.
Yep.. my vote is for the older one.