Updated almost 5 years ago on . Most recent reply
New construction house hack?
Does anyone have any experience with new construction SFH properties as an investment/house hack? It seems too good to be true - properties back in 2015 selling for $400k and now selling for $500-600k+ around Fishtown. I realize Fishtown has been insanely hot, but appreciation anywhere close to that would be a good deal.
I'm specifically looking around neighborhoods north/northwest of Fishtown - Olde Kensington, Norris Square, Olde Richmond, etc. With the tax abatement and all the other new development + vacant lots around the area, it seems hard to go wrong.
The catch seems to be that there's 0 room for value add or forced appreciation. I'm at the mercy of the market in terms of appreciation and property value. In an area with so much development and potential, this seems like a reasonable trade-off for a long-term hold. What do you guys think?