Opinions wanted, Reno or buy new/renovated?

[Goldtarget]

Hey guys quick background.
I've helped reno 4 places including last house I was in. I come from a trade background and after my Dad finishes up his third house in 10 years the tools will become available again. So on to my dilemma.

I've found the worst house in the best street but its partially done but poorly with plenty of scope left. It's probably 100k cheaper than new. It ticks most of my boxes except one important one. Do I have time? Also no building inspection has been done yet and it's currently occupied by renters. My gut tells me I might be in with a good chance to shave a bit off the asking price.

Mrs GT has the preferred option of buying new. If I go down that path I have no idea of potential for any capital growth. We are not at odds with each others preferred option but I thought I would throw it out there for comment. I'm keen to make a change as we are currently paying a crazy amount of rent. I've never owned an investment property only houses I've lived in. Any advice, pros cons or experience's you want to share?

 

[Swinging & digging]

Are you looking to buy as an Investment Property?
If yes it is much better to buy new as depreceation can work in your favour and have a new property that will appeal to good tenants.

If you are looking to buy to live in, its an emotional decision.
The property would need to be in the right place were you want to live etc.
Reno,s can take a lot of time and expense it is possible to over capitalise on renovating as you can often uncover hidden surprises like termite damage etc.

 

[Goldtarget]

Both are options, I'm more coming from buying a house to live in for a period but sell.