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ASPECT
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PRE-CONSTRUCTION HOMES
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RESALE HOMES
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Downpayment
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On an average, you need 20% downpayment
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Can put downpayment for as low as 5%
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Extras, Fixtures
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You may have to buy appliances on your own
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Lot of extras like window coverings,99% of times 4-5 appliances,electric light fixtures and upgrades
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Parking, Storage lockers
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You may have to pay for it
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Usually included on the sale
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Neighborhood
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It will be a surprise
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You get to know who your neighbors are
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Ownership
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Purchased before construction is completed, often off plans
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Purchased from a previous owner
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View and Layout
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You have to have great imagination
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You get to see the view and the layout
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Condition
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Brand new, never lived in
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Pre-owned, may require maintenance or updates
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Customization
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Ability to choose features, finishes, and layout according to preferences
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Limited customization options, must work with existing design
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Cost
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Initial price usually lower, potential for future value appreciation
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Immediate market value, negotiation possible based on market conditions
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Waiting Time
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Waiting period for construction completion before moving in
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Immediate occupancy upon purchase
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Location
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Options limited to available or upcoming developments
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Wider range of locations based on existing housing stock
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Financial Process
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Requires financing pre-construction and regular payments during the construction phase
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Traditional home loan process
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Risks and Surprises
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Potential delays or changes in project plans
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Clear understanding of property condition and neighborhood
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Market Availability
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Availability may vary based on ongoing projects and developers
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Availability determined by homeowners looking to sell
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Maintenance Costs
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Low initial maintenance costs, as everything is new
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May have immediate or upcoming maintenance costs
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Negotiation
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Negotiation on price, features, and upgrades with the builder
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Negotiation on the sale price with the current homeowner
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