Buying a new launch condo is like buying into an idea of a home. This is because you need to wait around three years for that idea to become a reality. So is it worth to buy a Singapore new condo you still have to wait for?
You don’t Have to Make the Full Payment Immediately
Because a new launch condominium is not built yet, you space into progressive payments instead of paying the full amount immediately. You will find this a great option if you don’t have an upfront capital. With this system, you can expand your payment obligations over a certain period of time. And the smaller payments you will make on a monthly basis translate to a more manageable installment obligations.
Get the Most Capital Appreciation from the Unit
This is possible since you are the first owner of the property. There are a couple of factors involved here. First, a subsequent or second buyer may have to pay a premium on the property which will provide the seller a profit. Thus, when you sell the unit, you may have to compete with neighbors who can ask for a lower price without compromising profit because they have got the unit at the price set out by the developer.
Second, a new launch condo has no asset depreciation which only starts when completed. This means that selling the unit at a time closer to the completion date offers a higher opportunity for profit because of lower depreciation.
You Can Choose from Various Units
Purchasing a unit in a new condo allows you to choose from many units. This provides you a better chance of getting prime units on the higher floors with awesome views. This means that you can have a nicer living situation and own a unit with a greater market value. Check out some great condo options at http://www.newpropertyguide.com.
You Don’t Have to Pay for Repairs
After spending lots of money on your purchase, you don’t want to spend another for repairs in that expensive abode. This is because a new launch condo’s fixtures and fittings provided by the developer come with a warranty in case they need to be repaired.
You Get to Enjoy New Fixtures and Facilities
Having brand new fixtures, fittings and facilities in your unit makes you the first one to use them. And because you get them at their prime, you don’t have to spend lots of money to maintain them.