What is the Pros and Cons to buy a new constructed house?
I am looking to invest in a Single Family House or Multifamiy in Seattle area, and see some new constructed houses which looks amazing from all the pics. I am wondering what the tenant usually think about new house? Are they willing to pay for the premium? How should I choose between an 20-30 years old house and a brand new constructed house?
So what is the pros and cons from an investor perspective?
Pros: easier to find tenant? less hassle to maintain everything?
Cons: less NOI? too new houses in new area which is inconvenience?
P.S. In Asia or Chinese culture, people do care a lot to live in a new house rather than a SECOND HAND house; in other words, the 2nd hand will depreciate a lot like a car once people lived in for awhile.