Apts/condos - Where Do The Falangs Live

[jimmym40]

Just started to look at condos. Can some of you state where you live and the pros/cons. Looked at Twin Peaks today and thought they were very expensive.

Don't know the names/locations of many condos at the moment - any information would be helpful.

I know the Riverside and Karnkanok and Hillside.

[ChiangMaiFurnishedApts]

The high end condos are all very expensive but you get what you pay for ( in most cases ).

If you have the time and the patience you might be better buying an older unit and then " faranging it out " to your tastes. Even with the newer places you always have to spend money to change things.

If you look outside the main city area you will see that the prices drop dramaticially. At some point it can be a better investment to buy a house, thats if you are in a position to do that.

As with real estate everywhere in the world, its all about location. If you are considering renting out the place then you will get a higher rent and more people looking in the city area.

The newer buildings have a better resale value over the next few years. Some like Peaks Garden have already sold out their foreigner quota and units that become available are jumped on fast.

Try : The Flora Condominimum ( nice but can be expensive for upper floors )

Punna ( close to Nimenhaemen Road ) Cheaper than Twin Peaks.

There are some older Hillside buildings in that area also.

On the klong close to the Chiang Mai Phucome Hotel there are some older buildings I have looked at with some great deals. There are units around there I have seen on the market for over 2 years now. Great opportunity to help out a seller with a charitable offer.

You never mentioned what sized place you are looking for ?

[SamSipEt]

I know some people who live in the Rimping and they say it is the best in town - but then they wouldn't they It is in a good location with great views, has just been repainted and has reasonable management which is very important.

Hillside 4 is also popular but most of the units are more of the bed sit style although if knock 2 or 3 together you can end up with something very nice.

If you are looking to buy perhaps the answer is rent first to see if you are happy with your chosen location - a lot of the privately owned condos are on the market for sale or for rent so if you like where you are renting you may be able to buy it without moving!

Take it slowly and good luck

[Ajarn]

At some point it can be a better investment to buy a house, thats if you are in a position to do that.

Though I have known farangs who successfuly sold their condo, I have NEVER even heard of a farang who sold their house. I think buying a house is not a good investmant if you can't sell it..

Edited July 27, 2008 by Ajarn

[Gravelrash]

I think you get a lot better house for the same money as a condo, but I think condos may be easier to rent with a higher return and definitely easier to sell.

There are plenty of Thai style buildings around where you can try for a bargain. This is good and bad, they generally don't improve in value and you could easily overcapitalize there. They will be cheap on maintenance as there virtually isn't any.

The Hillsides, Rimping and Riverside are all ok and do seem to appreciate, plus the security and facilities are better. As they say you do get what you pay for, depends on your budget and what you regard as a suitable lifestyle choice.

[venturalaw]

At some point it can be a better investment to buy a house, thats if you are in a position to do that.

Though I have known farangs who successfuly sold their condo, I have NEVER even heard of a farang who sold their house. I think buying a house is not a good investmant if you can't sell it..

If you are buying to stay, I would recommend a home. I purchased a new one (6 months old) at the Land and Houses complex located out Hwy 1001 toward MaeJo just past Ring Road 2. The community is clean, guarded and so far so good. I'm happy with it. Reasonably priced too because it's 12 kilo out of town (away from th pollution).

[Mapguy]

At some point it can be a better investment to buy a house, thats if you are in a position to do that.

Though I have known farangs who successfuly sold their condo, I have NEVER even heard of a farang who sold their house. I think buying a house is not a good investmant if you can't sell it..

If you are buying to stay, I would recommend a home. I purchased a new one (6 months old) at the Land and Houses complex located out Hwy 1001 toward MaeJo just past Ring Road 2. The community is clean, guarded and so far so good. I'm happy with it. Reasonably priced too because it's 12 kilo out of town (away from th pollution).

You really think it is away from the pollution? Check back in with TV next 1 April, will you?

Do you really think it will be easy to sell your house? On what basis? How many other properties are there in your community and others like it that don't "move" on the market? Check it out. Do a good survey. Knock on doors beyond the immediate block. Report back, will you? I think your findings will be instructive.

[justcruisin]

At some point it can be a better investment to buy a house, thats if you are in a position to do that.

Though I have known farangs who successfuly sold their condo, I have NEVER even heard of a farang who sold their house. I think buying a house is not a good investmant if you can't sell it..

If you are buying to stay, I would recommend a home. I purchased a new one (6 months old) at the Land and Houses complex located out Hwy 1001 toward MaeJo just past Ring Road 2. The community is clean, guarded and so far so good. I'm happy with it. Reasonably priced too because it's 12 kilo out of town (away from th pollution).

You really think it is away from the pollution? Check back in with TV next 1 April, will you?

Do you really think it will be easy to sell your house? On what basis? How many other properties are there in your community and others like it that don't "move" on the market? Check it out. Do a good survey. Knock on doors beyond the immediate block. Report back, will you? I think your findings will be instructive.

Agreed 1000% mapguy

I am aquainted with an older english couple who are building a new home here,i mentioned that it maybe be hard to sell in the future....their reply was "the thai's can have it" meaning if they die or leave,it is left behind.

I forgot to ask them if they can please leave the key in the mailbox when they die.

[Mestizo]

The newer buildings have a better resale value over the next few years. Some like Peaks Garden have already sold out their foreigner quota and units that become available are jumped on fast.

Just FYI, only one building there is at the quota. The other buildings in Peaks Garden still have units available.

(full disclosure: my girlfriend works in the sales office there)

-Mestizo

[Pantip]

At some point it can be a better investment to buy a house, thats if you are in a position to do that.

Though I have known farangs who successfuly sold their condo, I have NEVER even heard of a farang who sold their house. I think buying a house is not a good investmant if you can't sell it..

Not quite true. I have been buying and selling houses at the rate of about one every two years. Providing they are in the right location (up market) and renovated with quality finishing and landscaping I am usually able to sell quickly at a very good profit.