Newly built house vs sub-sale house: Pro and Cons

Happy February month!

Have you ever spent months thinking about whether to buy a newly built house or just buy a sub-sale house?

It can be a daunting decision to make especially when you need to convince your significant half as well.

A new house is one that is newly built by a developer, while a sub-sale house is one that has been previously owned and sold by another buyer. 

There are pros and cons to both options, and in this post, I will compare them to help you make the best decision for your needs.

Pros of buying a new house:

- You get to enjoy the latest design, features and amenities that the developer offers.

- You can choose your preferred location, layout, size and finishing according to your budget and preference.

- You can benefit from the developer's warranty, which covers any defects or damages for a certain period of time.

- You can save on stamp duty, legal fees and other costs that are usually borne by the developer.

Cons of buying a new house:

- You have to wait for the completion of the project, which can take several years depending on the progress and schedule of the developer.

- You may face the risk of abandoned or delayed projects, which can result in financial losses or legal disputes.

- You may not get what you see in the show unit or brochure, as the actual product may differ from the advertised one.

- You may have to deal with defects or poor-quality workmanship that are not covered by the warranty or rectified by the developer.

Pros of buying a sub-sale house:

- You can move in immediately after the transaction is completed, which can save you time and hassle.

- You can inspect the actual condition and quality of the house before buying it and negotiate the price accordingly.

- You can choose from a wider range of locations, styles and sizes that suit your taste and lifestyle.

- You can customize or renovate the house to your liking, as long as it complies with the local regulations and authorities.

Cons of buying a sub-sale house:

- You have to pay higher stamp duty, legal fees and other costs that are usually borne by the buyer.

- You have to deal with the maintenance and repair issues that may arise from the aging or wear and tear of the house.

- You may face difficulties in getting a loan or financing from banks or lenders, especially if the house is old or has low market value.

- You may encounter problems with the previous owner or tenant, such as outstanding bills, debts or disputes.

Ultimately, it depends on your personal preference, budget and situation. 

Before making any decision, you should do your research, compare your options and consult a professional agent and lawyer. 

Happy house hunting!

Signing off for now, 

Ashlin REN01427