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Benefits/Shortcomings Of Buying Old Homes

Benefits

  • Get what you see especially as to house design, finishing, infrastructure and neighborhood

  • Immediate occupancy or immediate and regular rental income

  • Additional fittings such as lightings, electrical installations & grills

  • Usually larger compound and bigger floor area

  • Usually located at established community area complete with public amenities

  • Usually located at prime location that command higher land value

  • Less thief and crimes incidents

  • Usually tenure is freehold

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    Shortcomings

  • Shorter unexpired term of the lease if property is leasehold

  • Out of date design but not necessary non functional

  • Lower building value

  • May require major refurbishment and renovations

  • Higher property tax rate such as assessment rate and quit rent

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