You at last have enough cash in the bank to purchase the home you had always wanted. However, in contrast to garments, you can’t simply stroll into a store to purchase for a home.So, what do you do? Buying a primary property means you are buying a brand-new property directly from the developer. Here are the explanations behind why you should buy a primary property rather than secondary property.
First of all, you can buy a fresh new property with the most recent plans and designs. In this way, less cash is required to be spent on remodel and renovation. The support and fix are negligible as the property is new and normally accompanied a standard 18-month defect liability risk period by the developer. Furthermore, freebies are often given out such as air conditioner, fully furnished kitchen or toilets, bedroom wardrobes and etc. Contrast with buy a secondary property which needs a ton of fixing and remodel work and its expense are frequently somewhat higher than a shiny new property, except if you purchase in that property at very low cost.
Other than that, discounts and rebates are usually given specifically to the early birds, or other privileges, such as zero down payment deals. Most developers also absorb the legal fees and stamp fees. This means you don’t need to prepare the upfront cash to purchase the property. Some of the developers often use this marketing strategy to attract the prospect property buyer.
There is no valuation made and no valuation charges acquired. Primary property will be sold dependent on the value set by the developer at first except if it is nearly finished, contrasted with secondary property, valuation report will be given. This implies additional money will be required if the valuation is lower than the selling cost.
Last but not least, primary property costs are generally set less expensive or at market an incentive by developers compared to secondary property. Most people choose primary property over secondary property is because of the capital appreciation. Properties appreciate in a very short period, which most likely to get higher in value by double or triple. According to Edge Prop, condominiums in Bangsar,KL have appreciated by around 94% to 167% over the past 17 years and will keep on appreciating as land gets inadequate and populace keeps on developing.
Source: Property Hunter, October, 2017 ( Primary vs Secondary: Which is more worth buying?)