Is it Worth it to Buy a New Launch Condo in Singapore?

New launch condominium ownership is a dream for most Singaporeans. It’s attractive and it’s a solid investment. If you buy it during or right after its launch period, you might even get some perks from the developer. New launches, while exciting, typically take a few years to construct. Thus, you’ll have to wait longer to move in.

While considering buying your dream house, most of you wonder does buying a new launch condo is worth the hype or not. If you buy a condo at a new launch property, you can have it built to suit your individual preferences. With all new appliances, fixtures, and plumbing, it will save you loads of cash and time in repairs and upkeep.

In this article, we’ll explore the perks of investing in a new launch condo 2022 in Singapore. 

Payment structure and costs

Promos like early-bird specials and “star-buys” are common for developers to use in the early stages of a project’s sales cycle. Additionally, some builders may provide bonuses like stamp-duty waivers and prize drawings to persuade potential buyers to sign contracts with them.

You can take advantage of various payment plans, including the Progressive Payment Scheme (PPS) and the Deferred Payment Scheme (DPS), when purchasing a newly launched condo. These plans provide more manageable monthly payments than purchasing a condo in the secondary market.

Elegantly furnished 

One of the first things you’ll notice about new launch condominiums is how developers don’t skimp on quality to make sure each property delivers unmatched value. A new condo is a good option if you want to live with cutting-edge appliances and enjoy luxurious touches like granite countertops and hardwood floors.

Additionally, when you purchase a new launch condo, you have a lot of input into the design of the finished product. If you buy a condo early, you can customize not only the number of rooms and the view, but also the flooring, kitchen cabinets, and other features. You can choose the fixtures you want in the bathrooms, where you want your extra storage, and even the color scheme you want throughout the condo.

Perfect for a long-term move

Many buyers aren’t in a rush to move in right away for a variety of reasons. Perhaps they have another property they need to sell first, or perhaps they have a more involved, long-term relocation project in the works. Since most individuals buy a condo while it is still being built, the interval between making the purchase and having to move in is relatively long.

Since the condo won’t be ready for occupancy for a while, buyers have flexibility to spread out their payments over a longer period of time. New condominium purchasers can take advantage of a government program that permits them to make smaller down payments (usually between 5 and 10 percent) on their purchases. Many consumers prefer the flexibility of a longer payment plan and smaller monthly payments since it allows them to reduce their reliance on debt while giving them time to save other assets to fund the purchase of their condo.

More conveniences and a better way to live

If you buy a unit in a newly launched condo, you can have access to a full set of high-end features and amenities designed to make your life easier and more pleasurable. Residents of all ages can enjoy a high-end standard of life not typically found in older communities. Here you can enjoy amenities like barbecue pits, tennis courts, a swimming pool, and a playground.

Rentability

Investing in a newly released property is the most logical choice.

Possibilities for renting out the property also stand to improve. Tenants, like you, are likely to want a more modern property with nicer amenities.

The potential for increased rental revenue and capital appreciation makes the lengthy development time worthwhile.

Things to keep an eye out for when purchasing a brand new condominium include: 

  1. The development’s quality; you want to invest in a long-lasting, high-quality property. Verify that the facilities, location, and aesthetic aspects all meet your standards.
  1. Do your homework to find out what kind of market circumstances are currently existing in your area, as condo launches can be highly unpredictable. You can use this information to determine if now is a good time to invest or if you should hold off for a better chance later. Singapore Property Launches provides you the most reliable and latest information about new launch condos 2022 in Singapore. you can visit our website to learn more about property launches in Singapore.
  2. To get an idea of the condo’s pricing, consider the supply and demand situation and be ready to pay more than typical.It’s crucial to be patient and know your budget before investing in a new development, as the introduction of the project can suddenly increase prices.

To save money, why not register early?

To save money on a condo purchase, it’s best to buy it at the beginning of a project so that you can enjoy early-bird discounts. Those who commit to buying early in the development process will only have to pay 1% of the overall purchase price up front, with the remaining installments due at various points in the building process. In many cases, early investors are rewarded with substantial savings off the asking price.Do you want to move into the greatest new launch condo 2022 in the market? Visit Singapore Property Launches to get the latest news about upcoming condos in Singapore in 2022. Here you can find the complete list of launched and upcoming new property launches 2022 in Singapore.

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