Up-Market Renovated Town Home.. Would You Live There?

[WinnieTheKhwai]

This is NOT my project, but I came across a very slick looking ad for refurbished town homes in downtown Chiang Mai. Have a look at the website first, and click around to see all the (professionally done) pictures. Click the ' + ' signs in teh bottom part of the page, then have a look around their site:

Website : http://www.baancharoen.com/townhouse.html

Now get this, it looks nice right..? The asking price is a cool 7.9 million baht for a townhouse.. Okay they're nicely done, a bit taller than the usual and in a good location downtown near the river and the night bazar. They're nice, but are they 8-million-baht-nice?

So I went to take a look. I'm not detracting to the work they did, but on the site it looks like it's a single block:

That's however not the case; there are a couple units in there that they apparently don't own, so those are still un-renovated. That also gives us a look of what the property looked like 'before' and 'after'. The 'before' is definitely quite mundane. Also, while the view to the back is apparently nice, the view to the front.. not so much. (Last pic)

The block:

Old, unrenovated unit:

Mix of old and new:

After renovation:

But.. the view towards the front, across the soi:

So.. it's a bit of a mixed bag. I really like the design, especially the interior design. But even given the good location I think it'll be an up-hill effort to bag 8 million baht for a unit. The location is nice, both centrally located and in a somewhat up-market area near Alliance Fraincaise, The Chedi and the Ping Nakhara hotel. Google Streetview Link: Google

Does anyone think this is good value at 7.9 mil, or would you rent it at.. I don't know, say 0.5% monthly of that amount so 40K Baht? What price do you think is realistic to purchase/rent? Personally I would start to get interested at about half those amounts as it provides higher-end in-town living with vastly more space than a similarly priced condominium unit in that area would provide.

[ShopBoy]

are they other units for sale too those not renovated units ? what are their selling price

[cmsally]

Are those in the small soi by Amata Lanna (small hotel)

Been there for ages if they are, flooded up to neck level a few times. Hope they provide free boat for those wet years!

They stood empty for a long time mostly. Remember the bank selling a couple off.

[WinnieTheKhwai]

I included a link to the location: http://g.co/maps/6jxc6 It's a small nameless soi opposite the Ping Nakhara.

Not sure if the other units are for sale; with renovation happening it probably means value is up a little also for the other units.

Looking at the kitchen at ground level, the bet seems to be on no more heavy flooding, or else the built in equipment is gonna get it:

I expect less frequent flooding too going forward, but still would think twice about putting expensive fixed stuff at ground level. (Or maybe that's where that funky Dutch door comes in.. When flooded you can more easily open the top part and canoe right out. )

Edited April 30, 2012 by WinnieTheKhwai

[chiang mai]

Are those in the small soi by Amata Lanna (small hotel)

Been there for ages if they are, flooded up to neck level a few times. Hope they provide free boat for those wet years!

They stood empty for a long time mostly. Remember the bank selling a couple off.

Yes they are, nice location but not worth anywhere near 7.9, also, traffic on the main road is horrendous during school pick up/drop off hours.

[Semper]

Who would like to pay any money for living in a place like this?

[JeffreyMcCollum]

I have a town home and love it.

I have watched these being renovated and the quality is very high.

Would I pay that, NO

But many want to be closer in and willing to pay the cost, just look around at all the projects as well as BKK hiso having an escape if needed.

[ShopBoy]

8 million for that unit abit hard to bite but interior and location are AAA

[WinnieTheKhwai]

Who would like to pay any money for living in a place like this?

Eh, that's the picture of an old unit prior to renovation. REEEEAADDD the captions.

[Boifromoz]

Very high standard something you dont often see in Thailand I think its worth 8 million, probably 14m in Phuket

[MrBrad]

"High standard" of construction to me would certainly include electrical outlets--and several would be not too many--in the kitchen. Maybe there are, but I see none at all in the classy photos.

[elektrified]

I think its worth 8 million

I disagree. Maybe in certain European cities (of course construction quality will be higher than here), but not in Chiang Mai. 26 talang wah? Come on... My bet is that these will sit for a long while...before the price is reduced...

[hellodolly]

"High standard" of construction to me would certainly include electrical outlets--and several would be not too many--in the kitchen. Maybe there are, but I see none at all in the classy photos.

Good point Where I come from they had to have one every 3 feet on the kitchen counters.

As for would I live there?. Yes

Would I pay that kind of money? No

[kaptainrob]

Having personally inspected 2 of these TH's, I agree the asking price is well over the top. Probably accounts for them sitting unsold for 6 + months.

Re-design has been done well but actual workmanship is below par - eg: wide, filled gaps in kitchen bench tops, rear sliding doors don't open fully due to sagging steel lintel.

Entry gates are manually operated (could be motorised) and there's no cover over car park space. Much of the interior flooring is of laid solid (dark) timber and this has dried/shrunk and warped with heat since installation ~12 months ago. One TH has already had the living area floor sanded and re-finished. Light, bright and cool porcelain tiling would have been a far better choice, IMO. I like the use of terracotta tiling to kitchen/dining in the Lanna-styled TH, but a transition to dark timber delineation of living room spoils the effect.

Ministry of Forests is behind but unfortunately their workers shanty huts are built up alongside TH rear walls. The Lanna-style TH has good built-ins and the biggest back-yard although barely room enough for a BBQ with the lads. The other TH's lack built-ins and all will require extensive window treatments (blinds/curtains) and ~ 1 mil's worth of quality furniture.

The location is excellent, notwithstanding traffic congestion, although it is a flood-prone area. I'd be more interested @ ~ 4 mil.

[steelepulse]

Those wouldn't even go for 8 million here in Phuket.

[TommoPhysicist]

"High standard" of construction to me would certainly include electrical outlets--and several would be not too many--in the kitchen. Maybe there are, but I see none at all in the classy photos.

Can you do 'high standard of construction' with a renovation?

Surely you are stuck with what the original builder did.

High standard of accessories maybe.

[MrBrad]

"High standard" of construction to me would certainly include electrical outlets--and several would be not too many--in the kitchen. Maybe there are, but I see none at all in the classy photos.

Can you do 'high standard of construction' with a renovation?

Surely you are stuck with what the original builder did.

High standard of accessories maybe.

It's done all the time here. Not necessarily with renovation, but with new construction. Walls are often put in place before the electrical work is done. The electricians come along and chisel their way through the cement walls to install conduit, switches, and outlets. Then the cement mason comes back for patching and refinishing. Adding ceramic tiles would cover the shoddy patchwork.

Another, less aesthetic approach, is to run the electric wiring on the walls themselves. This is very common, and I think we've all seen how ugly it is, albeit functional.

Short of either of these two remedies, the occupants are stuck with either using a number of extension cords, or making their microwave popcorn wherever an outlet can be found.

[ianf]

8 million for that unit abit hard to bite but interior and location are AAA

Useless to me. I would only need a place that can house my bicycle collection and give me workshop space.!!!!

[hellodolly]

8 million for that unit abit hard to bite but interior and location are AAA

Useless to me. I would only need a place that can house my bicycle collection and give me workshop space.!!!!

I would like to have a toilet and shower. Abed would be handy also.

Edited May 1, 2012 by hellodolly

[ShopBoy]

looking at the website it's only in English no Thai obviously targeting only the farang.

feedbacks here doesn't look great either look like the house is going to sit there for a long long time.

[chiang mai]

looking at the website it's only in English no Thai obviously targeting only the farang.

feedbacks here doesn't look great either look like the house is going to sit there for a long long time.

It already has!

[elektrified]

looking at the website it's only in English no Thai obviously targeting only the farang.

feedbacks here doesn't look great either look like the house is going to sit there for a long long time.

It already has!

And it will continue to until they drop the price 4.5-5 million!

[ShopBoy]

looking at the website it's only in English no Thai obviously targeting only the farang.

feedbacks here doesn't look great either look like the house is going to sit there for a long long time.

It already has!

And it will continue to until they drop the price 4.5-5 million!

4.5-5 million i could easily get 100 sq wah landed in a nice gated moo baan and free from flooding too

[CMX]

Has nobody looked at the price of a new house?? Or established homes that have prospered?

8 million to be squashed into a rabbit hole with few windows?? No cross drafts? No lovely garden, even relatively small?

No extra 4 million for servants every living moment, if you'd like? Idea is flashy, perhaps, but nonsense. Saving perhaps the location and a love of the limited lifestyle of small spaces.

[udonguy]

looking at the website it's only in English no Thai obviously targeting only the farang.

feedbacks here doesn't look great either look like the house is going to sit there for a long long time.

It already has!

And it will continue to until they drop the price 4.5-5 million!

I would say that's about right - 4.5m TOPS but we can't own houses of course (snigger) I have seen much better for much, much less

PS anyone know the sq meter floor space? it must be 200 plus right?

Edited May 1, 2012 by udonguy

[DiamondKing]

a friend of mine purchased a dumpy house similar to this for 595,000 baht near the night market, that leaves him 7 Million to do it up

For 8 Million Baht here you get a Massive home with a Pool lots of land and more but AAA+ for presentation pictures website and workmanship only thing that way out there is the price.

But Kudos to the Kwai for giving the guy some well needed free advertising to his target market

DK

Edited May 1, 2012 by DiamondKing

[ShopBoy]

PS anyone know the sq meter floor space? it must be 200 plus right?

"With 240–290 m² of living space on 23-26 Wah² (92-104 m²) land with Chanote (Title Deed), these rare properties are only available to four buyers." extract from the property website

[ShopBoy]

But Kudos to the Kwai for giving the guy some well needed free advertising to his target market

DK

maybe doing a friend favor

[udonguy]

PS anyone know the sq meter floor space? it must be 200 plus right?

"With 240–290 m² of living space on 23-26 Wah² (92-104 m²) land with Chanote (Title Deed), these rare properties are only available to four buyers." extract from the property website

26 wah - my God that's very small

[WinnieTheKhwai]

And it will continue to until they drop the price 4.5-5 million!

4.5-5 million i could easily get 100 sq wah landed in a nice gated moo baan and free from flooding too

Right, but it will be half way to Mae Jo or Hang Dong. The central location is a positive.

But Kudos to the Kwai for giving the guy some well needed free advertising to his target market

Yeah; I got the original link from an ad on Thaivisa though; probably one of the Google Ad links.