It does depend to a certain degree on who the builder is and where you live. But my unscientific point of view, as someone who lives in the NYC metropolitan area, is that new construction is currently more risky than usual because there's an awful lot of new junk out there being thrown up in a hurry to capitalize on the bubble. I've read about local builders filing two different sets of plans with the city and state and buyers getting locked out when the inconsistency is discovered, and I know people who have both bought and rented into new construction that turned out to be a nightmare of delayed occupancy permits, poor infrastructure and the like.I've owned aging existing property and it certainly has its own set of problems. But at least it has a track record, and new construction often does not. Do your homework as aggressively as possible.
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