Going for a Resale Condo? Here’s What To Look Out For

PLB Editorial Team

February 8, 2022

Table of content

The effects that COVID-19 has had on Singapore’s real estate market since the pandemic started has remained a hot topic ever since. A large majority of us are already familiar with the construction delays and greater demand for larger living/working spaces at home, which are two of the notable impacts brought about by the pandemic.

Alternatively, we also experiencing more prospective buyers who were reluctant to wait out the long construction periods or who simply wanted to satisfy their need for larger spaces turning to the resale market for options – this is reflected in the uptrend in resale volumes (and price) for the private non-landed market over the past 1.5 years.

Be it for investment or own-stay purposes, should you also be considering purchasing a resale condo unit, here are five factors you may wish to look out for:

#1 Surroundings of the Development

Image courtesy Calvin Chan Wai Meng (Getty Images)

Transportation

Having nearby transportation options would undoubtedly be one of the most important factors to be aware of as this will determine the ease of accessibility that is very much sought-after – thus increasing the occupancy rates for your unit.

And if you’re not driving, it would be necessary to understand the modes of transportation available within walking distance for ease of connectivity.

Buying a resale development that is well connected by all forms of transportation – Bus, MRT, Expressways – not only bodes well for your comfort of living during your occupancy, it can also translate into positive factors that tenants are looking out for if you do intend to convert the resale condo into an investment piece.

Amenities

There will be moments where you need to do food takeaways, shop for groceries or just to catch a breather outside, and this is when having amenities near the development will come in handy.

You might wish to check if there are amenities near your development such as eateries, supermarkets and sports complexes – for investors, having a wide range of amenities at your tenants’ convenience could also increase the appeal of your unit!

Sheltered Walkways

In case of rainy weather or when the sun is blazing down on you, having sheltered walkways leading directly to your development from your mode of transportation will be a huge plus.

As insignificant as this might sound, trust us when we say this is something you will be thankful for when you are saved from being drenched in sweat or rainwater!

An advantage of going for a resale unit as opposed to a building under construction is that you get to walk the ground and have first-hand experience of how it could be like living in the area.

Thus, instead of solely relying on online means to research the nearby amenities or point-to-point distances, there is no harm in taking some time to physically explore the surroundings and determine for yourself if you would indeed enjoy the living experience around the development.

#2 Condition of the Building

One trade-off that is made when choosing a resale unit over a newly-built one is the age of the building. With age, a resale development will inevitably come with its fair share of wear and tear (which will only be further exacerbated by an incompetent management committee team), making it critical for you to ensure that the building is being maintained to the best of the MCST’s abilities.

Some key areas to look out for would be:

Landscaping – are the garden/lawn areas overgrown or unkempt?
Swimming Pools – whether the poolside furniture is dirty or whether there are any missing floor tiles?
Children’s Playground – any rusted metal/plastic parts, broken swings or damaged slides?
Carparks – you might be surprised to know that some developments have turned their carpark into a dumping site, with trash & damaged bicycles stacked up in one corner; do check to ensure this is not happening in your shortlisted development.

#3 Condition of the Building

Unlike your everyday purchases, you cannot simply return or exchange a property if you are not satisfied with it. It is thus of paramount importance to inspect the unit’s condition thoroughly to ensure everything is satisfactory by your standards. You will also be able to estimate the amount and kind of renovation that you might have to do.

Going into the unit, you may wish to examine the following aspects:

Flooring Condition

There are several types of floorings, including homogenous, marble, ceramic and parquet, just to name a few. For the more popular flooring types such as parquet and marble, do pay attention to whether there is any sort of fading/water damage and cracks respectively.
Walls

For walls, you may wish to check for hairline cracks (although this is inevitable mainly due to temperature & humidity changes). The more serious issue to be on the alert for would be widening or huge cracks on the walls for this could be signs of structural issues – and it might burn a hole in one’s pocket to repair the damage.
Ceiling

One common problem that could come with older, resale units would be water leakages and the formation of mould on the ceilings. Some hot spots to watch out for would be areas near air-conditioner units as well as in the toilets due to their moist environment. On top of having to incur additional expenses to remedy the issue, this might also adversely affect young children or adults with allergy problems.
Signs of Pest Infestations

Although not so much of a structural condition, this is something that nobody would want to live with. Moreover, it might also result in higher renovation costs resulting from the removal of carpentry. Some signs to look out for include termites droppings, transparent wings or having an odd smell emanating from a certain area(s) in the unit.

#4 Renovations Done to the Unit

It could prove to be beneficial for you to know the kind of renovation that was done and also, how long ago they were done up.

These will aid you in gauging the longevity of the renovation or whether you might have to incur additional reinstatement costs (for instance, when walls were hacked down but you wish to restore the unit to its formal state).

Understanding the renovation costs that were previously pumped into the unit might also influence the price you are willing to shell out for the unit.

#5 Neighbours’ Profile

Undoubtedly, one of the clear benefits of opting for a resale unit as compared to one that is still under construction is that you are able to discover your neighbours’ profiles beforehand and assess whether you will be able to put up with their existing lifestyle habits.

For instance, if you are someone who prefers a clean walkway, having neighbours who tend to leave their shoes/bicycles all around or have several potted plants right along the corridor might give you second thoughts about purchasing that particular unit you have previously shortlisted.

Apart from personal observations, you may also try to fish out some information about your future neighbours from the sellers of the unit (though they might be astute enough not to reveal anything too negative).

Closing Thoughts

A completed unit in the form of a resale option opens up a lot more options for you in terms of the location, floor level, and surrounding amenities. However, this also presents you with a lot more points of consideration before committing to the purchase. We do hope that today’s article has given you some clarity into the factors to note when purchasing a resale property, as well as how you could assess them.

Should you need further advice for your property purchase journey, feel free to get in touch with the PropertyLimBrothers team, and we will always be happy to help. You can also take a look at our currently available listings and maybe one of them could be your dream home!