<\/strong>Currently, the trend of investing in condos seems to be booming. Whether the condos are from small or large developers, regardless of their price, people are flocking to buy them without hesitation, lining up to reserve as if the units were being given away for free. However, if we look closely, are those in line really responding to genuine demand? The answer is no. Those queuing are all investors, which has led to a rise in 'new condo investors' who are enamored with the beautiful aesthetics of new condos and often rush to book newly launched projects. But is there another option we might be overlooking? Yes, there are 'second-hand condos' available, which are not as expensive compared to new ones. Yet, there is still a group of people who appreciate 'vintage charm' like 'second-hand condos'<\/strong>, leading to ongoing debates about whether investing in 'second-hand condos' is indeed better than 'new condos'?<\/strong><\/span><\/p>

            True<\/span> <\/span> second-hand condos provide a real glimpse of demand, proving that there are actual residents, not just marketing hype from projects that, once transferred, turn out to be quiet and deserted. Unlike new condos, second-hand condos give you confidence that if you buy to rent, the tenants will likely be working professionals or students from nearby universities. Are they the customers you want?

<\/p>

            Not true<\/strong><\/span> New condos can also be great for speculation. If we exclude the small investors who have to abandon their reservations before transferring, many new projects, if chosen wisely, can yield high profits when sold as second-hand. It's a case of buying early to get rich sooner, rather than waiting to buy second-hand from someone else (who has already marked up the price).

<\/p>

             True<\/span><\/span><\/strong> Second-hand condos are now cheaper than new projects by almost 20-30%, and you can see the actual rental and resale prices because they are based on real transactions. You don't have to risk selling at a loss or abandoning your reservation. In some new projects, when only investors rush to book, as the transfer date approaches, those who can't sell may have to abandon their reservations or down payments, sometimes selling at a loss, depending on their situation.

<\/p>

            Not true<\/span><\/strong> New condos are brand new, so you won't have to deal with repairs (unless you hit the jackpot with a bad project). Plus, they come with beautiful facilities that are pleasing to the eye. Additionally, new projects often have more modern designs than second-hand ones, and some projects continually improve their room layouts.

<\/p>

            True<\/span><\/strong> Second-hand condos allow you to see the actual unit before purchasing, eliminating the uncertainty at the time of transfer. Even though new condos may be newer, sometimes when they are completed, they don't match expectations. Many times, we have to book new projects based on seeing only a small sample room, unlike second-hand condos where you can experience the actual condition, materials, and the real building, allowing for a more informed decision.

<\/p>

            Not true<\/span><\/strong> Second-hand condos often incur higher loan interest rates compared to new condos or have more stringent conditions. This is a weakness of second-hand condos as they depreciate over time, making banks less willing to lend as much as they would for new condos, and the interest rates are typically higher because there are usually no exciting promotions.

<\/p>

            TERRABKK<\/strong><\/span> We should have a good understanding of the 'pros and cons' of investing in new condos and second-hand condos. Some may have differing opinions. What do you think about investing in condos? If it were you, would you choose a new condo or a second-hand one?