Hi Benny relatively speaking I think you get far better value for money buying an old house rather than a new house as for similar amounts of money you will get an old house on a much bigger block, but an older house will require more maintenance which depending on the type of maintenance could be costly (if you are handy though this cost can be reduced significantly). Pluses for new houses is that for a fair period of time you should have little or no maintenance, and you will have a nice size asset for tax depreciation purposes. Also generally speaking you will get a higher rent for a new house - but if you have a well maintained old house the rent is probably either the same or not far behind.
To me give me the older house and I will cheaply fix it up over time myself and I believe I will be way ahead financially!
