Is this a good time to buy a Condo?

[bkk6060]

Remember as a buyer regarding the exchange rate, use that to your advantage.

Figure it out and show the seller the numbers.  Offering the seller 25 to 30% or more less explaining they "will break even" could now be a smart offer for a buyer to make.

 

[Happy Grumpy]

If buying to live in, yes, it's good time, about to get better.

 

If for investment, no.

 

One risk is that the building will be half empty with no one paying the annual service fees, so the building turns to crapola real fast.

[scubascuba3]

3 hours ago, jacko45k said:

Yes at least a condo certainly can be in your own name and you get to keep it if the relationship fails. But I struggle to see that as recompense for the limited lifestyle of a couple in a small condo. I would expect to be out of the home much more. 

my current place is a third of the size of my UK home and i don't feel i miss the extra space at all. As always it depends on the individual

[Henryford]

2 hours ago, bkk6060 said:

Remember as a buyer regarding the exchange rate, use that to your advantage.

Figure it out and show the seller the numbers.  Offering the seller 25 to 30% or more less explaining they "will break even" could now be a smart offer for a buyer to make.

 

Just a cheap way to make a low ball offer. I would tell them to sling their hook.

[talahtnut]

8 hours ago, Airalee said:

I prefer condos for the “lock and leave” factor, the view and also for the maintenance free lifestyle.  When I owned a house back in the US, it was a never ending project where I was always at Home Depot for one thing or another. 

Correct about the projects, but I love 'em, and I can do what

I like to a house. There's a Aussie across the road Locks and

Leaves, no problem. He has become a good friend as others

have in this road. There is a good communal spirit which I

don't see in condo life.

Mornings I sit outside in my 'alfresco office' with my dog, and

we can see trees, plants, and people, can't do that in a pigeon

hole of a condo.  Something that may be worth considering

for long term living.

[scubascuba3]

5 minutes ago, Henryford said:

Just a cheap way to make a low ball offer. I would tell them to sling their hook.

it hangs on whether someone wants to sell or not. One seller I know has done just that, dropped the price based on exchange rate movement, problem is it's still to high to bother with all the refurb required.

 

From what I've seen, 38 metres is a good size for a studio, everything fits in well, with 32 metres or less it all seems cramped \ less options possible

[Lacessit]

2 hours ago, Henryford said:

I bought my condo for 50,000 GBP. I have lived there for 14 years and will probably stay another 14 years. Average cost per month 149 GBP. Current rent on a similar sized condo by the sea 600 GBP per month. Yes foolish.

You haven't had neighbors with ear-splitting sound systems, cooking up enough chili to strip the paint off the walls, AirBNB one day tenants, a juristic manager absconding with the maintenance fund, or a flood from a higher floor? You're a lucky person.

[Airalee]

14 minutes ago, talahtnut said:

Correct about the projects, but I love 'em, and I can do what

I like to a house. There's a Aussie across the road Locks and

Leaves, no problem. He has become a good friend as others

have in this road. There is a good communal spirit which I

don't see in condo life.

Mornings I sit outside in my 'alfresco office' with my dog, and

we can see trees, plants, and people, can't do that in a pigeon

hole of a condo.  Something that may be worth considering

for long term living.

I “commune” quite a bit in my condo with other people.  Would never want a dog but can sit alfresco on my deck and enjoy a sweeping, unobstructed penthouse view from the 31st floor.  
 

When I lived in Seattle (Kirkland waterfront condo) It again was quite a communal type of atmosphere.  140 square meters with a pool table in the dining room and a sea-ray parked in the boat slip out front.  I could Sit alfresco and watch the eagles dive for fish in the lake, listen to the Canadian geese.  Go out for a waterski/wakeboard in the morning or out to eat by boat at one of the many Lake Washington waterfront restaurants. 
 

Horses for courses

[Henryford]

42 minutes ago, Lacessit said:

You haven't had neighbors with ear-splitting sound systems, cooking up enough chili to strip the paint off the walls, AirBNB one day tenants, a juristic manager absconding with the maintenance fund, or a flood from a higher floor? You're a lucky person.

Of course you have to choose the condo carefully. If you buy in The Base or Unixx then expect trouble.

[talahtnut]

42 minutes ago, Airalee said:

I “commune” quite a bit in my condo with other people.  Would never want a dog but can sit alfresco on my deck and enjoy a sweeping, unobstructed penthouse view from the 31st floor.  
 

When I lived in Seattle (Kirkland waterfront condo) It again was quite a communal type of atmosphere.  140 square meters with a pool table in the dining room and a sea-ray parked in the boat slip out front.  I could Sit alfresco and watch the eagles dive for fish in the lake, listen to the Canadian geese.  Go out for a waterski/wakeboard in the morning or out to eat by boat at one of the many Lake Washington waterfront restaurants. 
 

Horses for courses

Jeeez... why did you leave that??

31st floor!... hope yer lift busts.  Only jokin'!

[Airalee]

4 minutes ago, talahtnut said:

Jeeez... why did you leave that??

31st floor!... hope yer lift busts.  Only jokin'!

I left for a woman.  The crazy things we do for love.

[jacko45k]

2 hours ago, scubascuba3 said:

my current place is a third of the size of my UK home and i don't feel i miss the extra space at all. As always it depends on the individual

I like having the opportunity to have my own space, my partner seems to also.

[ivor bigun]

46 minutes ago, Henryford said:

Of course you have to choose the condo carefully. If you buy in The Base or Unixx then expect trouble.

The wife sold many condo in the base ,great location ,<deleted> place to live ,noisy full of short stay tenants,as for the size ,if you put my wifes wardrobe in one of the studios there would not be room for a bed or a chair.????

ok for short stay ,but live? i dont call that living .

[how241]

10 hours ago, SCOTT FITZGERSLD said:

the whole pattaya area is one lousy area, ????

there is no beach there, it is a seawage water remove system.

and 1 million baht is not cheap for a condo in pattaya, because, as

i mentioned, all pattaya is one cheap low class town .

and if you will look closer, you will find that pattaya is full

of many modern condo buildings, who stand there empty or half empty

, thousands of empty condos in pattaya are for sale in pattaya ,

because, chinese or no chinese, pattaya is a sellers market. many sellers

and very few buyers.

So you don't think Pattaya is a nice area to stay-play and live ???  haha

[bkk6060]

2 hours ago, Henryford said:

Of course you have to choose the condo carefully. If you buy in The Base or Unixx then expect trouble.

I had to leave The Base couldn't stand it anymore. But, it is one of the few places people who bought at the beginning made money.

 

You can add Centric to your list.

The top 3 short term rental condos (more like hotels) in the city.

[Destiny1990]

7 hours ago, Henryford said:

I bought my condo for 50,000 GBP. I have lived there for 14 years and will probably stay another 14 years. Average cost per month 149 GBP. Current rent on a similar sized condo by the sea 600 GBP per month. Yes foolish.

Sure but lets say u bought it and after 2 years you change plans and you need to relocate.. Now try to sell or to rent out here ur “asset“.

[Destiny1990]

5 hours ago, scubascuba3 said:

my current place is a third of the size of my UK home and i don't feel i miss the extra space at all. As always it depends on the individual

Its correct if a condo has a nice pool and gym and a lounge area for residents than you dont need an 180sqm unit. 

[how241]

35 minutes ago, Destiny1990 said:

Sure but lets say u bought it and after 2 years you change plans and you need to relocate.. Now try to sell or to rent out here ur “asset“.

Did you really believe that it is impossible to sell or rent ???  Just keep renting,  you will sleep better at night.   Renting/owning,  both have their good/bad points.

[jack7106]

On 2/25/2020 at 6:32 PM, how241 said:

I know a man who just bought his 20th Nirun condo.  He gets more than 80,000 baht MONTHLY  rental income and lives Very nicely off it.  He lets his Thai lady handle any problems that arise.  He gives her a little piece of what he makes and rationalizes that he would have to give her some money anyway and at least she is helping me.  This has worked nicely for him for many years. The rental game is not for everyone but there is money to be made. 

His name isn’t Alex????????‍♂️????????????is it????
BTW - I own 5 condominiums at Nirun & have lived there for roughly 8 years & am certainly getting more than 2% return on my investments ????????‍♂️????????????

The complex had a corrupt management for approximately 17 years and in recent years there is now accountability, progression and money well spent  – up to you/me????????????
To the peanut/imbecile who said it was a career progression and an achievement to live there. Up to you mate. I retired at 35 years of age & can choose where I live and I’m quite happy to live within a village atmosphere central to everything and all we need????????‍♂️????????????

[jack7106]

23 hours ago, scubascuba3 said:

Plus cable and wifi. Condo blocks with low maintenance the committee just raises money as and when required separately via supplementary fund as it's difficult to increase maintenance fees, of course that's probably never happened at Nirun

300 Baht + 2 year 150 Baht “ improvements fee “ per month & the tenants pay their own cable, wifi & mgmt/security fee less the “ improvements fee “ ????????????

[Destiny1990]

11 hours ago, ivor bigun said:

A big ego ,well its not the only big thing i have???? if you dont trust your wife ,sorry for that ,take out a 30 yr lease from her ,sorted. All my friend have houses ,except a couple who have Very ,Very large condos(which i could not afford) when i see the boxes they are building these days it amazes me how people can live in such a small space ,anyway the wife loves to potter in the garden.

Instead of loosing that house u could buy some balcony plants for her to potter with.

[how241]

1 hour ago, jack7106 said:

BTW - I own 5 condominiums at Nirun & have lived there for roughly 8 years & am certainly getting more than 2% return on my investments

I have a similar arraignment.  I  get about 8% return.  I have been lucky to have renters that have stayed for 10 years, 6.5 years, 5 years.  I didn't spend 1 baht all that time on those condos as the renters took care of whatever themselves.  You condo looks really nice !!!   You did a good job with the remodeling.  I also lived there for over 8 years and was happy and I can afford to live elsewhere if I chose to.  

[Airalee]

6 hours ago, jack7106 said:

His name isn’t Alex????????‍♂️????????????is it????
BTW - I own 5 condominiums at Nirun & have lived there for roughly 8 years & am certainly getting more than 2% return on my investments ????????‍♂️????????????

The complex had a corrupt management for approximately 17 years and in recent years there is now accountability, progression and money well spent  – up to you/me????????????
To the peanut/imbecile who said it was a career progression and an achievement to live there. Up to you mate. I retired at 35 years of age & can choose where I live and I’m quite happy to live within a village atmosphere central to everything and all we need????????‍♂️????????????

If you were able to buck the system at 35 (or any age really) and move to Thailand...congratulations!  Seriously.  I applaud that for anybody whether they own five condos or rent one...even at Nirun.  However...I recommend an exhaust hood for your cooktop. ????

[jacko45k]

12 hours ago, jack7106 said:

can choose where I live and I’m quite happy to live within a village atmosphere central to everything and all we need

And you choose that cramped grotty looking place and that hideous colour scheme?? 

Edited February 27, 2020 by jacko45k

[newnative]

16 hours ago, Destiny1990 said:

Sure but lets say u bought it and after 2 years you change plans and you need to relocate.. Now try to sell or to rent out here ur “asset“.

It can be done--and at a profit.  We 'changed plans' twice in Rayong, once in Bangkok (so far), and, let's see, 9 times in Pattaya (so far).

[fhickson]

in my experience there is always a problem with things for sale here.

 

ask to live in the unit several days before a serious purchase to find out what this is. 

 

things to look for include, noise, neighbors, any thais you need to go through to access it (security monkeys, office staff etc), issues with the view out the windows, any thais around...

 

to put it another way, the old cliche, you get what you pay for, no free lunch. your paying for the money you saved or a million baht unit in hassles and risks.

 

nirun sucks. i have lived there. the pictures suck. they hide the reality and show only the good angle or what the pic taker wants you to see.

 

no free lunch.

Edited February 27, 2020 by fhickson

[Destiny1990]

21 hours ago, how241 said:

Did you really believe that it is impossible to sell or rent ???  Just keep renting,  you will sleep better at night.   Renting/owning,  both have their good/bad points.

Exactly and since the guy was only mentioning some good points about buying therefore I mentioned some of the bad points.
Anyway I thought the question was is it now a good time to buy a property here? And my answer is No not yet !

[mike787]

buy now best time...buy everything in thailand before nothing left.

[how241]

1 hour ago, Destiny1990 said:

Exactly and since the guy was only mentioning some good points about buying therefore I mentioned some of the bad points.
Anyway I thought the question was is it now a good time to buy a property here? And my answer is No not yet !

Fair enough,  you're certainly entitled to your opinion.  Generally speaking, I have found if you wait for the 'perfect'  time to buy or travel , life will pass you by and you will own nothing and go nowhere.  I don't mind taking some risks and buying condos and land in Thailand has worked out nicely for me.  I have friends who have rented their entire life and are happy with that decision.  Good Luck to us all.

[Airalee]

12 hours ago, newnative said:

It can be done--and at a profit.  We 'changed plans' twice in Rayong, once in Bangkok (so far), and, let's see, 9 times in Pattaya (so far).

Sure...but...I have a feeling that you and your partner are doing much more tasteful remodels on “fixer upper” units.  I may be wrong, but that’s what I gather from your posts.  Unfortunately, tasteful (and neutral) remodels are few and far between here.  
 

Even much of the new stuff is pretty schlocky...even the high $$$ condos.  For the prices they are asking for the high end units I would expect full Viking/Wolf/Subzero kitchens with solid wood cabinetry, 1 1/2” thick granite countertops,  Ann Sacks tiles and other quality fixtures and materials throughout....but I’m not seeing it.

Edited February 27, 2020 by Airalee