Comparing the resale and brand new may seems cheaper and more value for money. But is this really true?🧐
Met a reader two days ago and they were quite adamant about selling their current HDB and getting a resale condo nearby in Serangoon/Hougang area.👍
They wanted to sell and seamlessly move to a private condo nearby.
After doing some calculations for them, they are able to comfortably get a condo of their choice, a 4 bedroom private condo.
Husband and wife with a 4 year old child. Young family of 3.
They wanted to get something near MRT and amenities and wanted to know my views of what they have seen.
After going through with them on what to look out for when buying a property, they were actually surprised to learn that they actually didn’t realise what they didn’t know.
they told me that they never thought of getting an agent to help them, as all of them told them the same thing, every unit they see, the selling agent will sell them how good the unit was and in terms of pricing its a fair value as with the current market analysis and that they are getting a real good deal.
All seems good on the surface till you know your neighbours prices. Imagine if you buy a #06 unit and based on today’s $psf its really “cheap” if you compare the market median prices.
But then you realise that, the higher floors are 1st owners whom have bought so much cheaper. About $400psf cheaper.
So question is, if you are the 20% of 2nd owners of the development. How long will it take for the majority of owners 50-75% to sell? And if they do…can they price it lower than you??
Sometimes, cheap can be a trap!!
After sharing with them, they now are more clear on what to look out for and of course I will be with them every step to see if the property is safe to enter.
If you are in the market, you never know what you did not know. Nothing to lose by hearing me out first ☺️
Give me a buzz via the link and we can meet up for a little chat 👨💼
See you soon!!
