In this video, Singapore Property Advisors Alvin Tay will discussed on Why he Don’t Buy Resale Private Property in Singapore ?
Whenever I meet my clients who are actively searching for a home, they will probably have a set budget and location in mind. They will do their own research, comparing sizes and psf pricing and start to make a shortlist.
While on their research, they realize that “Eh, I can actually buy this older resale property – which is far bigger, has more developed transport links and great location!
So is Resale Properties better ?
Check out the Video to have a some good insights
This interest in the private property resale market is very common because usually for the same price of a new launch development, it is possible that one can get an older private property that is bigger and even likely to be a freehold development.
However for someone like me who has seen many different transactions, there is a distinct disadvantage of considering older private resale units over new launch developments today.
Buying a property is a significant purchase – whether is it for own stay or for investment purposes. We want as much as possible to be on the positive side of the equation.
I believe we are at this juncture – where you can easily take advantage of rising prices in a new launch private residential development.
For new launch
-Prior to completion, you are on progressive payment
-No surprise liability to take on within the 12 months defects liability
-no renovation needed unless you want additional ID
-enjoyed everything brand new
-Quantum may even be significantly lower
If you are considering to purchase a property – either for your own stay or investment purposes – I ask you to seriously consider new launch developments. However I must also state that some new launch developments might not be the best buys either.
No matter what your goals are – whether is it retirement planning, upgrading or investment purposes – being able to purchase the RIGHT property that can adequately hedge you against the detrimental effects of inflation can be highly beneficial.
If you have intentions to enter the property market, you are welcome to contact me to arrange for a detailed financial assessment and to discuss what options are possible for you.
ALL INFORMATION PRESENTED IN THE VIDEO ARE BASED ON PERSONAL OPINIONS AND ALVINTAYSINGAPOREPROPERTYADVISOR IS NOT LIABLE FOR ANY LOSS OR EXPENSES WHATSOEVER RELATING TO INVESTMENT DECISIONS MADE BY THE AUDIENCE. THE IDEAS PRESENTED HERE ARE FOR REFERENCE AND EDUCATIONAL PURPOSE ONLY. ALL COPYRIGHTS RESERVED.
(Dated As of 3/1/2020)
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