Although an older condo may seem appealing due to its larger size and potentially lower cost, a newly designed condo offers a better overall package. With lower maintenance requirements, higher rental appeal, and better amenities, it has the potential for greater future value. Naturally, this makes it a more desirable option for condo rental. Additionally, its location is likely to be more central, adding another advantage to the new design.
Moreover, with the rising cost of homeownership, more and more people are opting to rent instead of buying a property. This trend has resulted in a shortage of rental properties in many areas, making it a landlord’s market. For condo owners in up-and-coming areas, this presents a great opportunity to capitalize on this demand and generate a reliable and steady stream of rental income.
Real estate has always been considered a sound investment option, with the potential for long-term gains and financial stability. However, with the ever-changing market and unpredictable economic conditions, it can be challenging to determine the best place to invest your hard-earned money. One strategy that is gaining popularity among investors is buying a condo in up-and-coming areas with government infrastructure investments and rental opportunities. In …