When buying a resale condo, the location is king. You want to be close to shops and public transportation, but you don’t want to spend a fortune on a place that’s too far away. That’s why resale condos are so attractive. They often have lower prices and are still in a desirable location. In addition, the price ranges for desirable resale condos tend to be lower than for new condos.
If you are looking for low price resale condos are a great choice:
A resale condo is a great choice if you’re looking for a low price or want a 99-year lease. There are several advantages to buying a resale condo. Unlike brand-new properties, resale offers reliability. Because resale buyers fall under the caveat emptor principle – Latin for “let the buyer beware” – you don’t have to worry about a home with defects, and after the deal is complete, you won’t have to pay for repairs.
Resale condos are protected from hidden problems:
Buying a resale property is an excellent way to ensure that everything is in order. There’s no warranty and no repair and maintenance fee – a plus for those who prefer resale properties. Compared to a new property, resale properties have little risk of hidden costs, as they are already sold as-is.
Resale condos have peace of mind:
Since resale condos are not new, they fall under the caveat emptor principle, which means “let the buyer beware.” The only guarantee is that no defects will be hidden, and the responsibility will be passed on to the buyer. On the other hand, investors look for low prices, 99-year leasehold properties, and no encumbrance.
They come with a warranty:
Resale condos are a better investment than brand-new ones because they come with a warranty. A resale condo has been well-maintained, and the buyer knows exactly what the space is like. The benefits of buying resale condos are many. First of all, you get to see the exact bedroom size and flow of space. You can also check out the view, and whether it’s a good one. Second, you know how much the common charge will be. This will ensure that you can afford the monthly payment.
You can move sooner:
Buying resale condos also means you can move in sooner and enjoy the immediate cash flow you will receive when the unit is rented out. You can also save on fees by buying resale condos, generally cheaper than brand-new ones.