"New Launch Condo" verse "Resale Condo"

When it comes to buying a property will be whether is buying new launch condo better or buying Resale Condo is better? For a young couple who just started work and planning for their property portfolios ideally will have one property (own-stay) and one property for investment.

Given if there is a place to stay (with parents/renting), after calculating your finances and needs, many will find buying new launch condo more affordable as progressive payment is spread over 3 years compare to buying a Resale which they need to service the full mortgage immediately despite able to rent out immediately.

During this Covid-19 situation, Resale Condo owner whose unit left vacant is facing more pressure whereas New Launch Condo owner might also such issue if the TOP is upcoming soon.

When buying New Launch Condo upon TOP, there is a defect warranty period within the 1st Year upon key collection whereas for Resale Condo, is the AS-IS Condition of the unit at the point of purchased. Any defect upon Transaction completion, repair will have to done at owner cost.

New Launch Condo because is "NEW", there will have more facilities and features such as "Smart Home" compared to the older Resale Condo which also make it a plus point for tenants as we all love "NEW" is given a choice to make.

Which is more suitable to you very much depends on what is likely to be your reason of buying? From a landlord angle, buying Resale Condo will means able to start collecting rental once completion, seeing the actual size and unit conditions as well as who are your immediate neighbour, getting the actual view looking out from the unit.

Resale Condo also will have history transactions which allows you to estimate the capital appreciation and rental yield for Landlords who are feeling less risky or New buyer who prefers to have more statistics when it comes to decision making compared to seasoned investors.