With home prices high across the board, there will be some buyers who are now wondering if 2022 is the right time to commit to a private property. A resale flat can seem to offer more space at a lower cost, but with eligibility restrictions that could bite in the future. It’s important to take a long-term view at this point, and also to look at factors beyond just the price point. If you are considering making a private property your first home purchase, here are some pros and cons that you should take note of: The upsides of buying a private property first We’ll skip the most obvious upside, which is that many (but not all) private condos have common facilities like pools, gyms, clubhouses, etc. Instead, you’ll want to consider the following:

• Fewer eligibility issues
• Fewer restrictions on resale
• Immediate rental is on the cards
• Might be required for certain pet owners
• Cash-out refinancing is possible later

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