Update item or resubmit?

I have an item that is going to get a massive upgrade and many new features added. Should I submit the item as new or just update the old item? I am afraid that if I update the old item, my item will not get enough exposure since it is not in the first page anymore. I have worked really hard for a long time to add all those features and I am expecting a payback. Is there any way to get more exposure as new items get? Thanks

Hi.

Looks Like You Don’t Have Any Approved Items ON Envato Marketplaces.