Updated almost 2 years ago on . Most recent reply
New Construction VS Resale house
Hello folks,
I live in the Tampa area and I bought my primary residence here in 2022 which was a resale house. We are looking to move to the north Tampa suburbs by the end of this year and considering our options between buying a resale house or a new construction house from a builder. We also bought our first SFR rental earlier this year. I have two questions for the investors here to have their thoughtful guidance -
1. Which is the smarter option to take financially in long term, buying a new construction or resale house as a primary residence? I am aware of the pros of cons of both in general but looking for guidance from the financial perspective only.
2. Should I sell (use the money to buy other rentals) our current primary residence in Tampa or rent it out? I bought the house for around $550K and it will rent for approx. $3500. So it will barely cashflow or break even.
Thanks a lot in advance for the knowledge and guidance.