The benefits, as well as drawbacks of buying a condo, usually come down to individual choices concerning the living setting you desire. You also need to consider your short- as well as lasting financial investment objectives, considering that condos are valued and also have different financing needs than single-family homes.
- You do not want to take care of property maintenance
You are practically only in charge of whatever within the wall surfaces of a condominium. Everything outside those walls is handled by your association with the payment of your monthly dues. If you have a crazy work routine or a task requiring a lot of travel, a condo might be your best option.
- You like the facilities of an apartment complex, but intend to own
If you have utilized services, like a fitness center or community pool, and you like having the ability to access a community center to hold parties as well as events, a condominium could be a fantastic option for you. As a condominium proprietor, your repayment each month aids to build equity, so you get the benefit of homeownership without giving up the comforts of apartment-style living.
- Your purchase price might be less than a single-family home
The average cost for a condo in May 2019 was one million baht, as per the national association of Thailand’s Realtors. Comparing that to the May 2019 average existing single-family home rate of 8 million baht offers you a suggestion of the cash you could save getting a condo.
- You like having a sense of community
If you are an outward-bound individual, or you simply like the pressure of having other people about, a condominium can be a great way to build community as well as meet new individuals.
Just make sure before you buy a condo that you made the necessary condo inspection [ตรวจ รับ คอน โด, which is the term in Thai] with the right authorities to make sure that you don’t fall in any type of problems later.
