Given what secondary housing is, this issue should not even arise in people, who have the luxury of choice, and now we will figure out why. Let’s look at the facts.
What is primary and secondary market?
The primary and secondary real estate market are two ways of concluding transactions: with objects recently erected or under construction, and with objects that were previously operated by someone.
Pros and cons of the primary market
- You don’t have to pay intermediaries to make a deal.
- No additional checks are needed: who is the owner, who owned the apartment, and whether in a year the person who was registered here before will return.
- In the new apartment, people did not die or quarrel, it did not accumulate negativity – not that professionals believe in energy fields, but you yourself know that in some apartments “with history” it is simply difficult to be.
- Only you decide what will be the layout, repair, furniture, decoration.
- Neighbours do not have established relationships; you are not burdened with the history of interaction with the former inhabitants of this apartment.
- The new residential complexes have everything you need on the territory: shops, pharmacies, playgrounds, walking paths, garage or parking space.
- Residential complexes from reliable developers have their own security systems and access control. You can register yourself for Tengah EC showflat viewing to know more about the facilities and nearby areas.
- The surrounding area, entrance, elevators, playgrounds – everything is perfectly clean, new, works flawlessly.
- There is no need to change communications in the apartment. They will not begin to fail, because the house is new, and the developer is responsible for the quality of communications.
- Buying an apartment in the building under construction, you can not settle immediately.
- If an unscrupulous developer happens, the house may not be put into operation, unpleasant surprises after check-in are possible.
Pros and cons of the secondary market
The secondary real estate market is an opportunity to purchase housing ready for settlement. Advantages of “secondary”:
- If you do without repair, it will be cheaper than an apartment in a new building.
- The ability to buy housing really in any corner of the chosen area – new buildings objectively much less.
- In the future, you may want to resell the apartment, and the prices for housing of the old fund are more stable.
- Absolutely any surprises with communications and the house itself are possible. Poorly made slopes, from under which blows? Correct at your own expense. The roof is flowing? Housing office works on Wednesdays from tenth to fourth, welcome. You were told that the pipes were replaced, but they broke, the water flooded the neighbours. You know who is to blame?
- The territory, the state of the stairwell, elevators – how lucky, but definitely worse than in the new residential complex.
- The materials of the house itself, communications, decoration are outdated. All the owner could do was replace windows or pipes, but not wiring or a heating system throughout the house. Neither environmentally friendly modern façade insulation, nor noise insulation in each apartment.
- Of all the security systems, there is an intercom.
So, which is better: a new building or a secondary market?
Objectively: there are many and different risks when buying secondary housing, and comfort is minimal. The risk when buying a home in a new building is one: to give money to an unscrupulous developer. It is always to get complete information about the developer before making any deal. CDL and MCL Land are reputed developers in Singapore who have worked on numerous residential projects earlier. You can ask for Tengah EC price (their current project) by simply visiting the website!
Make safe and honest deals that will bring you joy and become a worthy investment in a happy future!