Old Vs New Condos

[HarryLL76]

I understand that it is possible to rent a larger one or two bedroom apartment in older buildings for much less than a smaller unit in the newer condos. For example, I will be looking for a long-term contract (at least one year) on a large one bedroom. More specifically, I hope to find something between 70 square meters and 100 square meters. And, I want it to be near the MRT and BTS.

Have any of you rented in older building? If so, would you share your experience? Are these buildings generally well maintained? Are there big problems with roaches or other insects in older buildings?

Thanks in advance

Harry

[jcbangkok]

I think it all depends on the ownership and maintenance within a building. Do you have a budget? It might be better to ask for recommendations of good buildings within your price range and requirements.

[fstarbkk]

It is true that you often get much more condo for your money in older buildings. However, in my experience, maintenance is often a problem. According to a well known developer I spoke to, it is very difficult to convince Thai condo owners to spend enough money on the upkeep of the common areas and infrastructure items such as water lines, elevators. Also it is apparently very difficult for condos to enforce the collection of maintenance fees from the owners. Consequently, management companies often have no budget to work with, even if they are inclined to do a good job. The concept of investing into condo properties to maintain their value, seems to be poorly understood here.

[HarryLL76]

Thanks for your quick response. As for rent, I do not want to exceed 27,000 Baht. In fact, the ideal amount would be between 20,000Baht to 25,000Baht. However for that amount; I would like at least 70 square meters, a view, small balcony, 24/7 security, good location, and quality furniture. Again, I am thinking an older renovated apartment. Maybe my expectations are too high.

Thanks again

Harry

I think it all depends on the ownership and maintenance within a building. Do you have a budget? It might be better to ask for recommendations of good buildings within your price range and requirements.

[jcbangkok]

If you want to live on Sukimvit then your monthly expenses my be a little low for what you want. However, if you take the MRT and BTS out a little ways and are willing to walk 5-minutes to your apartment/condo then your budget is rather high. I have a 2-bedroom in Huay Kwang in a not too old (no clue how old but is certainly not "old") condo building that has tons of security, pool and gym. I pay 12k a month. I really am not sure on the size but in addition to the bedrooms, it has a living room, a small dining off the living room and a little kitchenette type area. It only has one bath and is certainly apartment style living but it is very adequate. The walk to the subway is about 5-minutes or you can take a motor cycle taxi, which are always available, for 10-baht. The nice thing too is that this is a building owned by one person/group. It is not individual condo owners. So, any problems are fixed quickly including things like servicing the A/C.

My guess is there are numerous situations like this along the BTS and MRT. Bottom line is you pay a hel_l of a premium for living on or off Sukimvit.

FYI: Depending on where you want to live, you might consider buying a condo for investment reasons. It is not difficult to do.

Edited October 23, 2010 by jcbangkok

[DoubtingThomas]

It is true that you often get much more condo for your money in older buildings. However, in my experience, maintenance is often a problem. According to a well known developer I spoke to, it is very difficult to convince Thai condo owners to spend enough money on the upkeep of the common areas and infrastructure items such as water lines, elevators. Also it is apparently very difficult for condos to enforce the collection of maintenance fees from the owners. Consequently, management companies often have no budget to work with, even if they are inclined to do a good job. The concept of investing into condo properties to maintain their value, seems to be poorly understood here.

It is quite simply utterly untrue that it is difficult to enforce collection of CAM fees. The law is very much on the side of the Juristic Person and there are clear steps that can be taken to recover delinquent CAM fees, including court action, but preceded by withdrawal of common services, such as elevators and water. Of course, if you are using one of the very well known management companies nothing will be done unless that company was also the developer and it is early days. Being self managed, we have just been through the process ourselves, we won the court decision and the unit will be sold by the court unless the owner pays the CAM fee. Nothing special about Thailand incidentally wrt owners not paying. It's a global problem. These are the same folks who, if they live in your neighbourhood, let the garden run wild, never paint the house or wash the windows and leave a leaking '75 Trans-Am on axle stands on the drive.

[theoldgit]

I'm in an older two bedroom condo with a decent balcony in Thonglor, it's 97 square meters and I pay 27,000 Baht including a 2,000 maintenance charge, I certainly wouldn't get a newer condo of that size in this area for the price.

The condo is pretty well maintained and there are often units being advertised, some for a tad more and sometimes a little less.

The block is mainly occupied by Thais, and I think some are pretty well off as they have drivers and you see them going out at night in their dinner jackets - I don't think they are waiters.

I think there are plenty of this type of block about, it's just a case of exploring areas that take your fancy.

I note the comment about maintenance fees, there are often name and shame lists in the lift detailing monies owed for many months.

[theoldgit]

The law is very much on the side of the Juristic Person and there are clear steps that can be taken to recover delinquent CAM fees, including court action, but preceded by withdrawal of common services, such as elevators and water.

I'm pleased to note that, as I have said earlier there are a number of people who haven't paid their charges for months, I appreciate that water could be cut off but how can they deny these people access to elevators without affecting the majority of those that pay?

[ChristopherWilliamsBKK]

Hi Harry.

Tell me where in Bangkok you want to live and I'll give you a list of condo's within your budget..

[ballbreaker]

The appearance of the exterior of building and how clean the interior common area's are will be your best indication.

A friend of mine rented a very nice 1 bedroom apartment in older building on Sukhumvit Soi 39 for 18k. It had full kitchen and two balconies overlooking piece of property planted with trees. He also said building security was not a bunch slackers. No one got past front desk without tenants permission.