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Some reasons we are favouring newish IP's or even building, for the next few:
We have highish income so want max depreciation.
We are time poor so want minimal maintenance issues.
Being time poor also doesn't easily allow us to renovate.
When building new, can be more assured there will be no old dodgy hidden work which will cost alot to fix, plumbing, electrical, illegal building, etc. warranty should cover too.
As mentioned, more attractive to tenants, hopefully better quality tenants.
I suppose it depends on your situation.
When I was time rich and very cash poor, I bought pretty much the worst dump on our street and renovated it extensively myself, now it's one of the best houses on the street, PPOR though.
Good luck
When building new, can be more assured there will be no old dodgy hidden work which will cost alot to fix, plumbing, electrical, illegal building, etc. warranty should cover too.
if it is really really old, like 40 years, can you still claim depreciation?