Is A New Launch Condo Really Better Than A Resale? We Debunk 5 Common Agent Sales Pitches
Perhaps it’s the higher commissions from new launch condos, or perhaps it’s a lack of availability. Still, some property agents are dead set on convincing you to stay away from resale condos. We’ve seen a lot more of this of late, so we’re not sure if it’s some kind of trend/training process. Regardless, we’re taking a look at some of the reasons they give, and examining how true some of them are. Here’s what to know when you’re given these reasons why a resale condo is not as good as a new launch:
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Perhaps it’s the higher commissions from new launch condos, or perhaps it’s a lack of availability. Still, some property agents are dead set on convincing you to stay away from resale condos. We’ve seen a lot more of this of late, so we’re not sure if it’s some kind of trend/training process. Regardless, we’re taking a look at some of the reasons they give, and examining how true some of them are. Here’s what to know when you’re given these reasons why a resale condo is not as good as a new launch:
First, a quick note on the performance of resale condos versus new launches
Back in late 2022, we did a deep dive comparing the performance of resale to new launches, over a five-year span. Our conclusion was that resale won by a very slim margin: 91 per cent of resale buyers saw gains, versus 89.8 per cent of those who bought new. As the margin is so slim, we’d be skeptical of any claims that suggest a major difference in gains/losses just on the basis that a project is new or resale.
In any case, just note that it is never a conclusive one between a resale or a new launch and it is project-dependent.