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Hi, I am not eligible to get an EC as I own a private property. I am thinking of resale EC vs new/resale condo. What are the main issues I should consider in order to help me decide which option is better for me and my fiancé?
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5 Answers

Hi,

Resale EC is essentially resale private condo, hence there is no difference. From the limited info you have shared, some main differences between New Condo & Resale Condo include:

1) Size and layout of older projects are typically larger, and more conducive for families.

2) The lease of older resale condo projects may have only 70-80 balance lease, and resale value next time may not hold up and there could be limited capital appreciation. Newer launches have better capital appreciation.

3) Facilities of resale projects may not be as relevant to current new condos.

4) Location of resale projects may be relatively better in terms of amenities and infrastructure which is already there, but will sell at a relatively cheaper price of the nearby new launch.

These are some of the factors that you can consider. Thanks and may I understand your housing plans further so to value-add on projects which you should consider? Hope to have the opportunity to work with you.

Warm regards
Ivan ERA
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Hi, if you could wait and have a temporary lodging for both yourself and your fiancé, then going for a new project condo would be ideal. Due to the weak market sentiment, there are many developers who are slashing their prices which are a good deal. And besides the low purchase price, your full loan does not kick in till TOP time frame which is in a few years time. Pls feel free to let me know if you need further assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
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Hi,

Essentially your requirements and objectives would be the response to this question! You probably have to decide what layout; size preference appeals to you, which location compliments your lifestyle, what are the returns you seek to achieve, what is the % / scope of capital appreciation, lease of the property and many more.

Evidently, purchasing a property requires through and critical thinking. Let's catch up at 96659926  for me to work out a financial calculation breakdown for your purchase and share more insights on the transaction caveats as well as the price analysis of both proposed private property types to help you make an informed decision. Do note that it is purely non obligatory and the only objective of the discussion should be to enlighten you on the differences, work out your finances to propose which projects you may wish to consider and aide in the price charting of units in the market. There is no point obtaining wishy washy statements from everywhere. You might as well consolidate all the key information and understand the market procedure well enough before taking the step.

Should you be keen on availing my consultation and services, do note that there is no agent fees involved and I will walk you through this whole tedious process of : explanation of procedure, shortlisting, negotiation, paperwork, establishing financial projections / application of loan, sharing of market insights, providing up to date transaction caveats & price analysis of properties as well as and handling all technical and legal matters at NO cost!

D Kumar
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Dear buyer,

Essentially if you are looking for a matrimonial home, the aspects of considerations between resale EC or private condo, should be dropped totally in my very own opinion. I believe that it is more important to plan your purchase according to your family needs, vicinity of parents home or future caregiver for your children if there is plan for children, travel to and fro work as well as affordability. The above aspects will directly contribute to the intangible value of the home that you are going to purchase since they are beneficial to you instead of only considering the pure monetary aspects of a property. I can share more with you on my experiences in dealing with newly wed couples looking out for their matrimonial home, especially so when I have been through that before and now with a family of 6 to work around with.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

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Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
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A very good day to you,

Thank you for your query.

As you are currently already a private home owner, I assume this second property would be more for investment which would give you the most potential return and perhaps also an alternate place for your new family.

You may like to refer to this link https://www.squarefoot.com.sg/market-watch/rental-yield as a reference to help you choose the best home in terms of potential return and convenience for your new family. The link provides the latest information on rental yield and rental contracts transacted in the last 6 months.

Many would agree that with high rental yield and many rental transacted correspond with high demand for the respective projects and may also mean that the property may be undervalued at the moment and has potential for higher return in the near future.

As we do not get prompted here, kindly contact me directly should you require further assistance in your second home search.

Thank you and have a pleasant weekend.

Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 82250212 
Email: karrien.realty@yahoo.com

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