Should I buy a condo or rent?

[Airalee]

1 hour ago, Hummin said:

There is no problem to buy, if you know you going to live there for 10 years, and you know the management is good, and the condominium is well run with decent rules, and the majority of owners, pays their maintenance fees, and you choose an apartment you know will be easy to sell, because of the location, the majority of the owners, is good, the maintenance is good, the facilities is attractive, the floor and side of building is attractive, and the apartment have good solutions, a proper kitchen, balcony, etc. Then you can be lucky, and if you do not have a crazy neighbour, who makes you life miserable for some reasons you didn't even think of

 

You make no reference to the price/rent ratio.  Could you provide some examples?

 

What will make it easy to sell?  What kind of location?  On a golf course?  Waterfront?  Near a mall?  And how many other condos are competing with it?  There is no shortage of anything that makes a “good location”.  It helps…but not that much.  

 

What’s a proper kitchen?  I havent seen any proper kitchens in condos under 10 million.  Maybe even 20.  They all seem to only have a 2 burner cooktop, a microwave and fridge.  Rarely is there an oven and even more rarely is there a dishwasher.  I think that one would have to renovate in order to get that proper kitchen, which is what I had to do, and I certainly don’t expect to recoup those funds even if it makes it easier to sell if/when the time comes.

 

I personally think that it all comes down to lifestyle choice and 99% of units aren’t worth owning and the only thing that makes a unit part of the 1% is entirely subjective and it will still have to be somewhat unique.  From what I see, there isn’t much uniqueness in basic 1 and 2 bedroom condos…with rare exceptions.  Especially at the price point that the OP is considering.

 

Can you provide a link to a condo for sale that you feel fits your criteria and is worth buying rather than renting?

[Airalee]

Can anybody else see the gobbledygook word salad here?

 

Would you trust an agent who spoke like that and can’t be clear, concise and provide examples?

 

 

[Hummin]

2 minutes ago, Airalee said:

You make no reference to the price/rent ratio.  Could you provide some examples?

 

What will make it easy to sell?  What kind of location?  On a golf course?  Waterfront?  Near a mall?  And how many other condos are competing with it?  There is no shortage of anything that makes a “good location”.  It helps…but not that much.  

 

What’s a proper kitchen?  I havent seen any proper kitchens in condos under 10 million.  Maybe even 20.  They all seem to only have a 2 burner cooktop, a microwave and fridge.  Rarely is there an oven and even more rarely is there a dishwasher.  I think that one would have to renovate in order to get that proper kitchen, which is what I had to do, and I certainly don’t expect to recoup those funds even if it makes it easier to sell if/when the time comes.

 

I personally think that it all comes down to lifestyle choice and 99% of units aren’t worth owning and the only thing that makes a unit part of the 1% is entirely subjective and it will still have to be somewhat unique.  From what I see, there isn’t much uniqueness in basic 1 and 2 bedroom condos…with rare exceptions.  Especially at the price point that the OP is considering.

 

Can you provide a link to a condo for sale that you feel fits your criteria and is worth buying rather than renting?

There is a few key standards to look for, a 5 year or older condominium who still have decent maintenance, easy to see around the pool area, back side of building if any, the wall, the security do their job, decent dressed, parking look tidy, and if you search the property on real estate agencies, you see how many still for sale, and how many is short term rentals. 

 

The management is well trained and have answers to your questions, and also have written rules concerning tenants and owners and they answer you properly when you ask what is the penalties for braking the rules. 

 

Also ask to see their accounting figures, and you will see how many units sold, and how many actually pays their fees. Check who's in the board and who is the leader, as well ask to see intern communication fot the last years if possible. 

[Hummin]

34 minutes ago, Airalee said:

You make no reference to the price/rent ratio.  Could you provide some examples?

5% of realistic marked value, posted several times already

34 minutes ago, Airalee said:

 

What will make it easy to sell?  What kind of location?  On a golf course?  Waterfront?  Near a mall?  And how many other condos are competing with it?  There is no shortage of anything that makes a “good location”.  It helps…but not that much.  

See another post

34 minutes ago, Airalee said:

 

What’s a proper kitchen?  I havent seen any proper kitchens in condos under 10 million.  Maybe even 20.  They all seem to only have a 2 burner cooktop, a microwave and fridge.  Rarely is there an oven and even more rarely is there a dishwasher.  I think that one would have to renovate in order to get that proper kitchen, which is what I had to do, and I certainly don’t expect to recoup those funds even if it makes it easier to sell if/when the time comes.

I have been to 2 bedroom or more properties with decent kitchens, but it is the more older prospects, which also do have decent balconies.

34 minutes ago, Airalee said:

 

I personally think that it all comes down to lifestyle choice and 99% of units aren’t worth owning and the only thing that makes a unit part of the 1% is entirely subjective and it will still have to be somewhat unique.  From what I see, there isn’t much uniqueness in basic 1 and 2 bedroom condos…with rare exceptions.  Especially at the price point that the OP is considering.

 

Can you provide a link to a condo for sale that you feel fits your criteria and is worth buying rather than renting?

I have never found the real kinder egg yet, who had all my boxes ticked and that why I didn't buy back in 2017. 

 

My budget was 8 million, but those appartments I wanted was 10 and up. I would had bought if my currency didn't "collapse" bellow 1 nok 4 bath, and for now it is 1 nok 3,10. 

 

Actually my plan was to buy at once it was 4,5 again, but never reached back up, so.

 

Anyway, as you say, it is lifestyle and not everyone need everything I wanted, but still, there is very few of those on the marked who ticks all my boxes, and thats a reason why it is so few, because they sell quick at once they  are for sale. 

 

I'm going to see if I find one. 

 

 

Edited 2 hours ago by Hummin

[Airalee]

17 minutes ago, Hummin said:

5% of realistic marked value, posted several times already

See another post

I have been to 2 bedroom or more properties with decent kitchens, but it is the more older prospects, which also do have decent balconies.

I have never found the real kinder egg yet, who had all my boxes ticked and that why I didn't buy back in 2017. 

 

My budget was 8 million, but those appartments I wanted was 10 and up. I would had bought if my currency didn't "collapse" bellow 1 not 4 bath, and for now is 1 nok 3,10. 

 

Actually my plan was to buy at once it was 4,5 again, but never reached back up, so.

 

Anyway, as you say, it is lifestyle and not everyone need everything I wanted, but still, there is very few of those on the marked who ticks all my boxes, and thats a reason why it is so few, because they sell quick at once they  are for sale. 

 

I'm going to see if I find one. 

 

 

Agree with what you say…and you also bring in the fact that “the stars must align” with respects to exchange rates and the fact that there are very few that really tick all the boxes.  That’s why I say that there are perhaps 1% of condos that I would consider as good investments.

 

I bought a new build during covid so I was able to purchase a “contract” from someone who want able to close at a steep discount.  Better for them to get a sliver of their 30% deposit back than nothing at all so they were selling it at a steep discount.  The money I saved was all put into gutting and renovating and I expect to lose a substantial portion of that if/when I sell.  Exchange rates (THB/USD) have also moved against me so if I repatriate those funds, I take another hit.

 

The people (not yourself) who try to use simple opinions such as “rent is throwing money away” or try to bully people (you just can’t afford it!….sour grapes!!)…..well….those are the people who’s opinions are worth what you pay for them.  Nothing.