A resale property is an established second-hand home with previous owners, while a new build is a brand new property — either ready to move into or purchased during or before construction. The main differences are the purchase tax (9% ITP for resale versus 10% VAT plus 1.5% AJD for new build), the condition of the property, and what each comes with. New builds include a 10-year structural developer guarantee and modern energy-efficient specifications; resale properties offer an established setting and the ability to see exactly what you are buying before you commit.