Making an Informed Decision: New Launch or Resale Condo?
Initial Consultation and Dilemma
Young couple Ariel and Joel, in their late 20s, approached me with a desire to purchase a condominium unit. They were seeking a home they could truly call their own, yet one that would yield potential investment returns in the future.
Our initial encounter at a showflat led to a deep-dive into their dilemma.
Are new launches or resale condominiums a better fit for us?
- Ariel and Joel
Identifying Needs & Exploring Options
Previous encounters with agents pushing specific projects had left them uncomfortable and confused. These agents proposed developments without taking time to truly understand Ariel and Joel, throwing them into a sea of uncertainty.
When I met Ariel and Joel, I eased their worries about previous agents, clearly explaining the advantages and disadvantages of both new and resale properties.
I understand that clients know their needs the best. Hence, I organized property viewings for both new and resale options, helping them make informed decisions
Why New Launch Appeals
Their decision to go for a new launch was anchored on several reasons:
- They weren't in a rush to move in.
- The progressive payment scheme provided substantial savings on interests, particularly in comparison to buying a resale development in a high-interest-rate environment.
- Potential for good investment returns.
- Lower renovation costs.
- The allure of moving into a brand new unit.
But there was one more challenge: which newly launched project should they pick?
Strategic Analysis and Decision Making
Upon clarifying their preference for a new launch, I then took on the task of objectively analysing the various newly-launched projects available. Together, we zeroed in on a new development offering significant upsides:
- Its entry point was lower compared to other nearby new launches.
- The area was earmarked for future transformation.
- Future land plots in the vicinity had the potential to augment the value of their property.
Conclusion
Ariel and Joel’s property journey stands as a powerful testament to careful and personalized guidance. By first understanding their unique needs before exploring options, we were able to navigate the complexities of the real estate market together, resulting in an investment decision that best fulfilled their needs.
If you're grappling with similar property choices, I am here to assist in deciphering your unique needs, exploring suitable options, and finding the best real estate investment
