Jul
27

Why buy secondary/second hand property?

 

second hand property

  1. If there is an immediate need to use or rent out the property, then the secondary market is more suited.
  2. Since rental is almost instant and can service your bank loan, your borrowing limit will not be affected. You are able to borrow more.
  3. If you are the sort of person who prefers to buy property “as it is”, then a second hand property is the best.
  4. The ‘as it is’ concept reduces risks and surprises.
  5. Over the last 2-3 years, the secondary market has lagged behind the developer’s market. Prices are 10% to 20% cheaper compared to newer developments in the same location.

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