Why Buying a New launch Condo Makes Financial Sense

If you have ever lived in a HDB flat and happened to step into a condominium then you truly understand the differences between the two. Some of the obvious differences between the condo and the HDB include; the availability of top notch facilities and conveniences within a condo such as, a swimming pool, barbecue pits, a gymnasium, and the feeling of residing in a high end living environment.  Architects are also able to embrace their modern creativity in the overall theme of a development. Like in the case of prospective visiting Clement Canopy showflat, buyers are able to feel this canopy inspired landscaping to decide if it suits their lifestyle. As a matter of fact, the new condo units within Singapore now embrace high tech conveniences. For instance, you can get an auto lock door function. Needless to mention the breathtaking scenery these units present to the owner. Asides these, condos offer a lot more.

Discounts

This is perhaps one of the reasons that drive many into buying new launch condos. Developers of new launch condos offer freebies, discounts, and vouchers which are meant to entice buyers to buy the units. As a buyer of a new launch condo the developer has come up with literally dozens of ways of attracting buyers. For instance, early bird discounts, stamp duty refunds, redeemable vouchers, and others. The deals are quite tempting and even if it does not slice the purchase price by half, you will still get an extra benefit from your purchase.

Unlimited Choice of Units

When you buy a new launch condo, you are free to choose whichever unit you desire. This is unlike the case where resale condo units are availed to the market for sale. In such a case one has to choose one among the limited options available. For a new launch condo, you are in a better position to choose prime units that present impressive view of the locality. If you insist for locality view of landed houses and unblock facing, you must not missed out Grandeur Park Residences showflat located at the actual site. Viewing this showflat will definitely entice you with its quiet surroundings. This will not only make your living enjoyable but it also makes your unit more valuable if you want to sell in the market.

Favorable Payment Schedule

New launch condos present an attractive payment schedule to buyers. You are not expected to make the full payment at once since the units are not yet constructed. Payments are divided instead into what is called progressive payments.  Thus, new launch condo units presents an excellent opportunity for those who lack sufficient cash to cover the upfront capital required by other types of property. As a buyer you are able to make your payments over a long period of time.

Installments for new launch units normally ran over a sustained time span. The developer would expect payment once he or she has achieved some preset milestones.  This is usually about 5 to 10% of the purchase price once every 6 months. The periodic payments will ran until the time when the Temporary Occupation Permit is given, which is usually 3 years from project launch. At this time the buyer is required to clear the remaining 40%. The small payments made within the set time frame makes new launch condos more attractive and manageable.

Brand New Facilities, Fittings, and Fixtures

New launch condos comes fully packed with brand new fittings, fixtures and facilities. If you dislike pre-used fittings then getting a firsthand condo is the best option for you. This will not only translate to a more comfortable living environment but it also eliminates unnecessary maintenance expenses usually associated with second hand fittings, facilities and fixtures.

Huge Return on Investment

First time property owners reap more returns unlike subsequent buyers since they get the most in terms of capital appreciation from their unit when sold. A new launch condo buyer has an advantage over subsequent buyers of a unit since every seller requires a premium when selling. Furthermore, a second buyer will most likely compete with a neighbor who is selling a similar unit at a lower price.

A new launch condo unit also eliminates the loss associated with capital depreciation since depreciation starts upon completion. Therefore, the smart buyer will sell it close to the completion date. Nonetheless, you have to wait for at least 4 years if you do not want to pay the Sellers Stamp Duty.

Forget about Repairs

Investment in property usually takes up a lot of your money and can drain one’s account. Therefore, upon purchase of your home you expect no one to demand for repair money since you are already drained financially. By purchasing a new launch condo you avoid any unprecedented expenses associated with repairs.

The developers of new launch condos provide brand new fittings, fixtures, and facilities that are covered by comprehensive warranty. While certain developments like the upcoming Seaside Residences may have choices for flooring, fittings etc, it is fruitful to make a trip down to Seaside Residences showflat to compare such options available.  Therefore, if any issues arise they are at your door step to make the necessary repairs and replacement where necessary. What else can a home buyer ask for?

No Negotiations Required

Unlike other types of properties where you have to negotiate with the seller, with a new launch condo there are no negotiations. You are given a clear record of all the costs involved and periodic payments involved. Since you buy directly from the developer you avoid the stress involved in negotiating prices. There is also no agent commission to be paid since you are dealing directly with the developer.

Customizable

With new launch condos you are given the choice to decide how your condominium will be furnished. This is unlike ready units where you pick only what is available. Furthermore you will be a proud owner a brand new unit.

The Singaporean real estate market has been booming since independence with the demand of new launch condos growing each day. The firsthand condos come with exceptional facilities and can be tailored to suit the preferences of the buyer.  Owning a unit may seem impossible especially if you are single but if you understand your options you will realize it is possible to own a private new launch condo. Most buyers often times think about the purchase price alone and ignore other types of expenses outside the mortgage payments. This is a huge oversight and should be avoided.  As a smart investor have a clear picture of how much you are willing to commit for the purchase, evaluate your options, then commit yourself to fulfilling your dream.