Starting Out - New build or existing
We are looking to purchase our first rental property and will use it as as STR as well as a vacation property for our personal use. Any drawbacks to purchasing a new spec home in the Phoenix area (assuming HOA allows it)? For the price point we are looking at I think I can purchase new for the same and in some cases lower purchase price. Any advice is appreciated.
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@Account Closed Hey Chad. Welcome to BP! If your strategy is to use this for STR, I would recommended steering away from a new build, and anything in an HOA community for that matter. Almost all new build communities will have a restriction on STR and if on the off chance they do not, you run the risk of that changing at any time down the road. Hope this helps!