Before that, you must your budget and requirements.
If you’re looking for property for your own stay and use, a brand new property is good for peace of mind (in the first few years, anyway) and there are great rebates to encourage home ownership. Furthermore, with the Home Ownership Campaign 2020 (HOC), 10% rebate and exemption on MOT will help you to save cost and reduce your upfront cost burden.
Nevertheless, if the new home you’re looking for is situated out of the way, a subsale property is a better choice as it’s located in a strategic and mature location.
As for investment purposes, new properties are appealing for their modern aesthetics, although there’s the risk of the project being abandoned or not completed on time.
Whereas subsale properties you can immediately rent out once the ownership is transferred.
Now that you have a rough understanding of what you’re getting into when you purchase a subsale or brand new home, you can now start planning your budget accordingly.
Anyhow, your credit score is essential as it will determine whether you can successfully to own a house or not. Plan now and get your credit score as healthy as can be, so your home loan application has a higher chance of approval!