Should Buying A Low Lease Project Be A Viable Option?
TLDR When considering low lease projects in Singapore, it's crucial to evaluate your individual needs, financial standing, and future plans....
Read More
Why One Family Chose a New Launch 4-Bedroom Unit at Lentor Mansion Over a Resale Condo
TLDR
NM’s family chose to buy a 4-bedroom unit at the new launch Lentor Mansion despite elevated condo prices, after weighing practical needs, personal preferences, and financial considerations. They needed ample space for five people and a helper, preferred modern facilities, proximity to parks and MRT, and a unit with favorable layout and floor height. The resale market offered limited suitable options that were often older and required renovations, making the price difference with new launches smaller than expected. NM conducted a detailed price comparison within a one-kilometer radius and found Lentor Mansion fairly priced. While nearby new developments raised concerns about competition, NM believed a balanced unit with good layout and facilities would stand out. His advice is to be realistic, well-prepared with a clear budget and loan approval, avoid rushing decisions, and focus on finding the right property that meets your needs in Singapore’s fast-moving market.
In the current Singapore property market, where new launch condo prices are elevated, many families are opting for resale properties. However, one family, NM’s, made the deliberate choice to purchase a 4-bedroom unit at Lentor Mansion after careful consideration. Their analytical and informed approach offers valuable insights for anyone navigating the decision between a new launch and a resale condo.
Balancing Practical Needs and Personal Preferences
NM’s family, including a spouse, three children, and a domestic helper, required a home with ample space. Financially, the numbers had to align. Beyond practical needs, they desired a new environment, proximity to parks, convenient access to the MRT, and nearby amenities like a supermarket.
NM described his decision-making process as a blend of analysis and emotion. He favored a new launch for the ability to choose a specific unit with desired level and facing, and he carefully analyzed the price differences between unit types and layouts. The tight supply of resale condos in 2025 made finding an ideal unit challenging, giving new launches a distinct advantage in terms of available options.
Another key factor in their preference for a new launch was the desire for modern facilities. Older resale condos, even if well-maintained, may have outdated or less popular amenities.
The Decision-Making Journey
The family’s search spanned two months, initially exploring various districts and considering both resale and new launch options. Lentor Central, Bartley Ridge, and Bartley Residences were among the properties considered. A unit at Bartley Residences met their criteria, but the seller’s firm price led them to explore other options.
Lentor Mansion eventually became their choice. They found a unit with a desirable floor height, and the master bedroom was spacious enough to comfortably accommodate a king-sized bed and a single bed for their youngest child – a rare find in newer condos within their budget of $2.7 million (initially targeting $2.5 million).
While some resale options offered sufficient size, NM found them too old and comparably priced to new launches, without factoring in the additional time and renovation costs associated with older properties.
Price Comparison: New Launch vs. Resale
NM noted that the price difference between Lentor Mansion and the resale units they viewed was smaller than anticipated. After factoring in potential renovation costs for resale properties, the overall price became comparable, with the added drawbacks of older age and limited availability for resale options.
Lentor Mansion’s unit layouts also impressed NM, particularly the bedrooms’ ability to comfortably fit a single bed and a study desk without feeling cramped. They compromised on their initial preference for a long living/dining area in favor of meeting other key criteria.
The project’s extensive landscaping (73% of the 235,000+ sq. ft. site) also appealed to NM, creating an appealing initial impression that he felt would be beneficial for future resale.
NM conducted a thorough price comparison, analyzing prices of available units within a one-kilometer radius and comparing projects with similar attributes to conclude that Lentor Mansion was fairly priced despite its new launch premium.
Addressing Concerns About Surrounding Developments
The upcoming concentration of new condos in the Lentor area raised concerns about potential competition for rental and resale. However, NM addressed this by researching multiple surrounding areas and understanding that the right project, with a good balance of layout, size, and facilities, could stand out despite increased neighboring developments. This level of analysis often requires the assistance of a property agent.
Long-Term Perspective and Advice
NM views Lentor Mansion as a potential long-term home, but remains flexible given his age and career stage. Future plans may include considering a larger unit if market conditions and savings allow.
NM’s advice to other homebuyers is to be realistic, avoid rushing into a purchase, and refrain from trying to time the market. He emphasizes the importance of having a clearly defined budget and obtaining In Principle Approval (IPA) for a home loan to ensure financial readiness.
Ultimately, NM’s experience highlights that while prices may always seem high, being prepared and decisive when the right property aligns with your needs is crucial in Singapore’s fast-paced property market.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
You May Also Like …
Singapore Luxury Property: 5 Reasons to Add it to Your Trophy Collection
Singapore Luxury Property: 5 Reasons to Add it to Your Trophy Collection When it comes to luxury property investments, Singapore...
Read More
Are You Worried About Overpaying On Your Property? Here’s The Secret To Finding Out Its Perfect Purchase Price!
TLDR Understanding property valuations and their impact on mortgage loans is crucial in the Singapore real estate market. By considering...
Read More
3 Trends For New Launch Properties In 2023
TLDR When considering buying or selling a property in Singapore, it's crucial to understand the market dynamics and key metrics....
Read More
6 Unexpected Property Warning Signs That Can Be Negative for Some, But Beneficial for Others
TLDR When considering property preferences, what may appear as a disadvantage to some buyers could be a unique opportunity for...
Read More
Top 5 Places to Learn About Singapore’s History
Singapore, a thriving metropolis with a rich history and diverse cultural heritage, offers numerous opportunities for visitors and locals alike...
Read More
Discover the Optimal Timing to Invest in Singapore Real Estate: Unveiling Historical Insights
TLDR When considering the best time to buy or sell a property in Singapore, historical data analysis reveals key insights....
Read More
Timing the Market: Lessons from Singapore’s Property Price Fluctuations
TLDR Singapore’s property market has seen price declines during major crises such as the 1985-1989 pre-recession, 1996-1998 Asian Financial Crisis,...
Read More
Will New Launch Condos See a Drop in Prices Soon?
TLDR The real estate market in Singapore is experiencing a trend of lackluster bids for prime properties in various locations....
Read More
The Integrated Living Experience: Benefits and Drawbacks of Condos Above an MRT
TLDR Integrated developments in Singapore combine residential units with commercial spaces and direct MRT access, offering convenience and car-free living....
Read More
The Hidden Realities of Mega-Development Condo Living: Five Overlooked Issues
TLDR Mega-developments in Singapore—condos with 1,000+ units—promise affordability, abundant facilities, and lower maintenance fees, but they come with hidden challenges....
Read More
Can You Still Make Money from Older Freehold Condos in Singapore
TLDR While freehold condos might seem like a solid investment, the rise of new developments and aging buildings cast doubt...
Read More
Top 5 Best Instagrammable Spots in Singapore
Singapore, a vibrant and modern city-state, is known for its stunning architecture, lush green spaces, and colorful streets. With its...
Read More
5 Reasons : Why Investing In Singapore’s Property Market Can Be A Good Retirement Plan
Investing in Singapore's property market can be a good retirement plan for several reasons. Here are five key factors that...
Read More
Is The Condo Dream Getting Increasingly Harder To Achieve For Singaporeans?
TLDR Condominium prices in Singapore have nearly doubled over the past 15 years, with new launches now averaging around $2,390...
Read More
Singapore’s Property Insights : Where to Find 5 Hidden Gems?
Singapore's Property Insights : Where to Find 5 Hidden Gems? With its booming economy, vibrant culture and attractive regulations, Singapore...
Read More
Three Singaporeans Share Their Experiences of Co-Owning a Property with Friends
TLDR In Singapore, some individuals venture into property investments with unrelated partners, driven by opportunities and personal circumstances. Jim, leaving...
Read More
Unveiling the Secrets: How Foreigners Can Buy Property in Singapore – 6 Essential Steps to Follow
TLDR Foreign investors find Singapore attractive due to its stable governance and transparent business practices. Foreigners, including Permanent Residents (PRs),...
Read More
How to Maximise Your Home Value Before Selling : 6 Simple Steps
TLDR When looking to sell your home, consider simple ways to boost its value without costly renovations. Organize living spaces,...
Read More
Planning for Retirement: Considerations for Downsizing Your Property
TLDR Downsizing your home for retirement can bring financial security, closer family ties, and new adventures. Consider the benefits of...
Read More