Poll: Which Condo Would You Buy?

[teej]

I'm renting a 166 sq mtr condo in bkk for 51K and am delighted. for me location is main thing followed by size and luxury. No buying for me though

Monochaser

Just out of curiosity why is your preferance to rent rather than buy? If you buy presumably you have a capital gain when you decide to sell in the future but with renting you dont?

Just interested

Johnb

I think "presumably" is the operative word...

Equity is equity, and under almost any circumstance outside of an idiotic purchase or natural disaster it's better than the alternative (rent).

and yes, "almost any" are operative words here you may say but the concept of equity still remains, and this concept precludes any smart buyer's real estate purchase.

[jdinasia]

and with currency fluctuations ..... etc .

I'll stick with renting for awhile

[connor]

CONDO 1 ALL DAY LONG.

Whats the point in spending money on a run down place in a run down building. Think what most other tenants will be like also.

Dont waste your money buy a new one.

I know some nice apartments in Bangkapi 1.4 million. Friend has just bought one & very happy.

[gymboy]

CONDO 1 ALL DAY LONG.

Whats the point in spending money on a run down place in a run down building. Think what most other tenants will be like also.

Dont waste your money buy a new one.

I know some nice apartments in Bangkapi 1.4 million. Friend has just bought one & very happy.

1.4 million wot 4 one bedroom or just studio???

[laxman1960]

and with currency fluctuations ..... etc .

I'll stick with renting for awhile

I personally think it depends. I live in Pathum Thani, Chuan Chuen Golf Avenue. Great place, quiet, golf course, new swimming pool, clubhouse, etc. We got a steal on our rental for a 250sqm house at 12,000 Baht per month. My wife has been after me to purchase out here since Thai's hate renting.

But I did the math, I can buy the house across the street, identical size lot, house, etc., it is brand new. Purchase price plus finishing it with kitchen, built ins, aircon, etc. would run about 6M total. If I could finance the whole thing at 6% for 30 years (can't do that but it is for example) the monthly payment would be 36,000 baht per month. That is 3 times what I am paying right now. And to actually purchase it we would need about 20% down, or 1.2M baht and then would get a 23 year mortgage since my wife is 37 and the banks only lend for a period of 60 minus your age, so the mortgage payments would probably be in the 32,000 per month range.

Guess what, it is a mainly Thai area, few farang, far from town. There is plenty of land available in the development so new houses will be built for years to come. So if we buy it is a sunk investment, it will not go up much in value in the near term as people are not flocking here to live and the availability of land to build new is still high. To me it is all about cash flow, to get this place I laid out a grand total of 40,000 Baht (original rent at 10,000 so first plus last month plus 2 months security) and now pay 12,000 per month. Versus buying where I would have put out 1.2M and paid 30,000 per month. Terrible deal for me to buy here.

Now I am looking at buying in Hua Hin or even Pattaya area, there are plenty of opportunities for resale there and prices are appreciating, plus I would love to live near the beach. But I will weigh it carefully as well.

I also looked at condos in the city, many for sale but the rental prices were more attractive, again it is all about cash flow. The owners likely are Chinese-Thai who paid cash for the buildings so getting a 6% return is fine for them, but it makes it much cheaper to rent than try to buy when you see properties selling for 15M and renting for 60,000!

Dan

[trogers]

I'm renting a 166 sq mtr condo in bkk for 51K and am delighted. for me location is main thing followed by size and luxury. No buying for me though

Monochaser

Just out of curiosity why is your preferance to rent rather than buy? If you buy presumably you have a capital gain when you decide to sell in the future but with renting you dont?

Just interested

Johnb

Even if you can sell it at the same price you have paid 3 years ago, there is capital gain - rent saved less interest cost, maintenance and taxes.

[trogers]

CONDO 1 ALL DAY LONG.

Whats the point in spending money on a run down place in a run down building. Think what most other tenants will be like also.

Dont waste your money buy a new one.

I know some nice apartments in Bangkapi 1.4 million. Friend has just bought one & very happy.

Paid Bt1.55m for a 45m2 1-bedroom unit near BTS Prakhanong last Feb. Unit was renovated 3 years ago, and I need to spend only Bt90k to have a total redo of the bathroom, painting and add in new curtains.

[Jingthing]

I faced a similar but not identical choice.

Smaller condo, much nicer quality building.

Condo double the size, middle level building.

Same price, but they were both finished well.

I chose the bigger condo. I think I made the correct choice. I would have been miserable in the smaller condo. Too small!