3 Common Myths: New Launch Vs Resale condo

New Launch vs Resale condo

For buyers who are undecided between a new or resale condo (new launch vs resale condo), you may want to review these 3 common myths. Some are half-truth or not entirely true


     Table of Content

  • Myth 1: Resale Condo is Cheaper
  • Myth 2: Resale condo is Bigger
  • Myth 3: Resale is Better because of Immediate Rental


📌Myth 1: Resale Condo is Cheaper

  • New launches may be higher priced per square foot (PSF) but the sizes are shrinking because the developers want to keep them affordable
  • In fact, you may end up paying more for a resale condo because some of them have bigger floor area.
  • A new launch comes with basic renovations and is brand new (with 1-year defects free warranty).
  • For a resale condo, remember to factor in the renovation cost before comparing it with the new launch prices.
  • If the price point is similar after comparison, you may want to look at the next point.
New Launch Vs Resale Condo

📌Myth 2: Resale Condo is Bigger

  • Older condos are generally bigger in size.
  • For example, The Bayshore is an east side condo that TOP in the 1990s.
  • The 2 bedroom’s size is about 900-1000sqft.
  • That is equivalent to the size of a 3 Bedroom in the new launches today.
  • Many older condos also come with big balcony, bay windows and planter box.
  • These are wasted spaces not seen in today’s layouts.
  • Resale condos may be bigger on paper but may not be as space efficient.
  • Before buying, you may want to look deep into the floorplans to calculate the “net usable space” between a new launch and resale condo.
New Launch Vs Resale Condo

    📌Myth 3: Resale is Better because of Immediate Rental

  • It is true that a resale condo can be rented out immediately after completion
  • However, be aware that the lease is also ticking down.
  • Both new and resale condo will have similar “rental lifespan”, if they are on 99 years leases
  • A brand new condo will also have higher rentability because most tenants will prefer new over old
New Launch Vs Resale Condo

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Dennis Lim

Dennis has more than a decade of experience investing in real estate. Like many fellow Singaporeans, he grew up in a HDB flat with dreams to live in a condominium. Through careful financial planning & hardwork, this became a reality when he was 30. He now owns 3 private properties in Singapore and has helped hundreds of Singaporeans to achieve their goal of upgrading their homes in land-scarce Singapore.

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