BuddyPress.org

New domains always have to spend at least a year in the Google “sandbox”. This is a period of time during which Google doesn’t really trust you because you’re new. As a result, moving a site from a long established domain to a new one can have a devastating impact on your Google rank. This is something that could take years to recover from. In this case, you’re much better off using a 301 redirect. Using a 301 will have ZERO negative impact on your Google rankings.