Should You Buy a New Launch or a Resale Condo?

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January 17, 2022

Should You Buy a New Launch or a Resale Condo?

If you are in the market looking for a new home and could not quite decide between a brand-new launch and a resale unit, well fret not, this list should provide some help.

For a start, the key deciding factor lies in whether there is a need to move in or rent out the unit urgently. If there are more immediate needs, chances are you are better off getting a resale unit, or perhaps consider projects that have recently obtained the Temporary Occupation Permit (TOP). New launches could take 3 to 4 years to complete and will not be suitable if you are in a hurry to move or start generating rental income quickly.

If time is not an issue, then carefully assessing the points below should hopefully help you to arrive at a decision between going for a new launch or tap the secondary market for buying opportunities.

Whichever path you take will depend on your financial ability and housing needs, as well as whether the property is for own stay or investment. Still not quite sure? Well, feel free to connect with PropNex’s experienced sales persons for a more detailed review of your financial circumstances, real estate requirements, and potential buying opportunities.