Anything
developed or introduced by human-being in this world has its own pro and contra
in applying it. Similarly goes for buying houses; what are available in market
for us to venture? YES!! Either new project by developers or sub-sale in
secondary market would be the choices to choose when buying a house.
What
would be the benefits and/or risks buying new house from developers? How about
secondary market? Is there any benefits buying houses from secondary market? How
we as a buyer can benefit from these two options? WHAT??!! Benefits from both
market? YES! How about risks? Only for new projects? NO. Both have their own
risks and obviously can be reduced or mitigate so that we are safe when do the
transactions.
Generally
for new projects there will be potentially two (2) risks where the completion
of the project could be big doubt and the supply – demand curve is not really
matured. These two (2) could be the nightmares for the purchaser and they are
really hoping these will not happen. However, all the risks can be mitigate by
applying some check on the developer background and survey on the supply –
demand curve.
What
would be the benefits for the new project or primary market? There are so many
promotions are being offered by developers to attract more purchasers. There
are discount or rebate being promoted where there is no requirement on
down-payment and there is a case even getting cashback once the project is
completed. Furthermore, there’ll will be waive for the legal fees with discount
for maintenance fees (for apartment and condominium) for at least a year.
Secondary
market or sub-sale houses are mainly very subjective because on how good the
lawyer we hired to do the transaction. If the appointed lawyer is well-known on
the transaction then we are safer side or else some nightmares will come soon.
We will discuss further on this secondary in upcoming article on “Secondary
Market”.