There just a wide option in the market for real estate hunters who would want to have a condo in Bangkok. Having many to choose from certainly at times can be confusing and all the consumer needs to remember basically is that their purchase should match their taste and needs. Here is a rundown of things you might use as a checklist to make life easier and your condo shopping a fun experience.
The Laws on Ownership
If you happen to be a local there would not be any problem at all if you plan to purchase real estate property but if you happen to be a foreigner or expat then you need to be sure you are familiar with the laws about the terms of property ownership in Bangkok. You need to consult the Condominium Act B.E. 2535 (1992) for the qualifications on how a foreigner can qualify to purchase condo in Bangkok. These are the terms that needs to be satisfied i.e. holds a residence permit under the Immigration Law, is allowed to reside in the country under the Investment Promotion Law, has BOI privileges in Thailand, has the capacity to bring in the entire money from a foreign country to purchase a Thailand condominium, and has land rights under the Land Code. Also needed to be remembered if you are a foreigner is that you should have a bank account in Thailand and an immigration stamp in your passport to validate that you are indeed in the country during the actual event of purchasing your condo and that you possess the money in foreign currency that you bring from outside the country in payment for your condo. This all sounds difficult, but in reality it is a very straight forward process.
Having a Local Agent
Be sure to have a local agent to represent you in finding the perfect Bangkok condo unit. You will be able to save money by having wide options available for you and it is also to your convenience of only going to locations that matched your needs. Having a local as a guide will help you find the best deals and locations without you having to do it as it always pays to have an expert on your side.
Price
There’s nothing more equally important that this factor and you would need to find options which are reasonably within your budget. The typical asking price in a condo is based on variables like the floor level, location, parking, etc… A good tip would be to get accommodations in the middle or higher floors so that if there are any future development or buildings constructed, your views will not be hindered and you will still have a piece of the skyline
Location of the Building
The chosen location of the condo you will buy will pretty much dictate the pace and lifestyle you will be having. It will be your home and the people around it will be your neighbors and that includes the restaurants and shops around it. You may certainly love the fact that you live in a big city but hate the congestion or the lack of views you have on your place because of a big building right in front of your window or is it such a hassle for you to compete with other when commuting because you live in a heavy traffic area. Location certainly dictates so much more in terms of the lifestyle that you will live. Having a family will certainly bring more considerations and the top of which is security. You just want to have neighbors you are comfortable with especially if there are kids around. Some examples of great places where many professionals and families live include units in Sukhumvit, Silom, Sathorn and Thonglor to name some.
Condo Unit Location
Do you fancy penthouse living? Is it such a hassle for you to always wait for the elevator when all you want is lie down on your bed after a day of work? Is your window directly facing a noisy street? You may have a very accessible address but the location of your condo unit needs to be assessed as well. Having natural lighting from the sun and unobstructed views are certainly desirable but you may need to contest with other searchers for these priceless conditions. If you happen to be wary of street noise then it may be a good idea to have a look at your condo unit during heavy traffic hours and see if you can tolerate the noise level or if not then the search simply just continues for you, given that there’s a multitude of option for you out there.
Living Arrangement
The situation in the condo you plan to live would also need to match with the living arrangements you have whether you are alone or with a family. Living alone would not be as complicated because the usual priority would be the proximity to the place of work and convenience of having the shops you need like laundry, groceries, restaurants, etc… just nearby. But if you happen to be married and planning to have children you also need to consider if how many children you may be having in the future for expansion or renovation purposes that might be needed.
Amenities
It is always a draw to have amenities like swimming pool, gym, saunas and other sports facilities i.e. tennis courts, basketball courts, or even a jogging trail. Adding these amenities certainly bring comfort and accessibility to your place and just makes the value of the property bigger. Having these amenities near will allow you to enjoy the activities you want to do without having to go far. It will help you as well to keep doing the thing you want to do on a regular basis like doing exercise.
Rules in the Apartment
There will always be someone that takes care in the implementation of rules in a condo building and they are called as administrative mangers. They also set the rules so that concerns and issues can be addressed timely. A good example is the smoking policy inside the building. You might be a non-smoker so it helps to know if there are spaces set for this activity so that others won’t be bothered about it. Each building or complex may have their own unique set of rules and you might want to consult the personnel involved to make sure you agree with their terms and that you will not be having any problem following the regulations that they set forth.
Convenience in Commuting
A good condo should be situated near the BTS Sky trains or MRT stations. This will save you of all the headache of being stuck in the Bangkok traffic of which the city is infamous for. Having your own car at times is not a good option if you traverse streets which are just way too congested. Using public transport like trains may even save you time rather than driving. It is also worth to take note that the condos which are near the expressways are priced lower in the market than those situated in ideal places like Phahonyothin and Sukhumvit Roads.
Plans for the Future
You need to define if you are staying in your condo for a short term or for a good amount of time. Your plans need to coincide with your condo contract so that you will not have a problem if ever you relocate or move for some reason. There’s just a number of reasons for you to move in the future so better consider this so that you can save your hard earned money as well.
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