As of 2023, new launches averaging $2,000 psf have priced out a great many home buyers; even HDB upgraders. And although the pandemic seems to be behind us (fingers crossed), the demand for bigger homes has still continued unabated. The eventual conclusion: an older resale condo, where you can still find homes with a bigger floor plate, as well as bigger grounds.
But just as with buying a new launch, buying older developments comes with its own set of risks. Besides the obvious ones like maintenance issues, you’d want to consider the long-term prospects of the development – particularly if you are buying it as your retirement home. Here’s a checklist of things to look out for when buying an old resale condo: