Buying a new launch condo early vs late — here’s how it compares

You've done all your homework, and have finally found the right home after months of searching. It's a popular new launch condo, and you submit your cheque to be part of the balloting process. There have been more than 1,000 cheques collected, and there are just 300 units for sale. On balloting day, you wait for the results with bated breath, hoping to get a favourable ballot number to give you a chance to select one of your choice units. Your phone pings. You open the message with bated breath, and your trembling fingers hover over the button to tap the message. The number 1043 flashes up, accompanied by a message from your agent telling you to focus on the next launch. Your heart sinks, all hopes have been dashed, and it's left you feeling like a pricked balloon. Sounds familiar? While this was my exaggerated attempt at setting the scene, I think it's fair to say this was a feeling that most of us could resonate with, especially from the run-up in late 2020 till last year, when the supply of new launches were dearth (about 14,000 unsold units as of Q4 2021 ), and demand for new homes… Read full this story

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