Why Are Houses So Much Cheaper Than Apartments/Condos to Rent?

[sirineou]

Add the cost of house maintenance, pool and fitness, and your own security system and security guard 24/7 and tell us again about being cheaper.

I dont think the OP is asking what is more expensive to maintain, but rather why Condos are bure expensive to buy than Private homes?

The maintenance costs are arguable, For a Condo you have maintenance fees that you must pay where in a home you can chose if you want to maintain something or, not, or pay someone to do the work or do it yourself.

In a condo you share the maintenance costs where in a home you pay all of them yourself, but in a condo you also share the facilities where in a private home you can enjoy them in private. etc etc.

I often wondered the same question as the OP. Someone said that condos are more expensive to build , I would respectfully disagree. depending on land prices, it should cost cheaper per square ft for a Large condominium than for a private home , in an other word you can out a lot more Condo living square footage than private home square footage in the same land. also the labor an material costs Per/ sqft should be lower for a condo due to bulk buying .

Buy? Figures given by the OP are rental rates...

yes but before the OP can rent it the owner that offers it for rent had to buy it, and the cost of an item will determine the amount it is offered for rent.

also I see some offering land prices as an explanation for the price discrepancy . May I say that, Land prices per sq/ft would be the same for a private home as it would be for a condo located in the same ares. The difference is that you can put a lot more Living Square Footage in the same size land for a condo that you could for a private home , so in affect the land cost for a condo is less.

Edited January 1, 2016 by sirineou

[Naam]

It always amazes me, why anyone would want to live in a shoe box condo ,with perhaps a good view ,over a large house with garden 3 bedrooms ,and parking for 3 to 4 cars each to his own I suppose ,mind you if I was a single guy living alone I suppose it would be better

[Michael8511]

In Patraya most cheap houses are further out then Condos when it comes to the beach, in jomtien a 2-3 BR house goes from 25 000 and up. I rented a nice 3BR 2 Bath house on a nice dead end street on south Pattaya RD for 8 years and payed 10.000 per month. Now renting a studio in VT 5 jomtien it's a nice studio with washing machine for 15.000 per month, the downside with condo is that pets are not allowed unless you are lucky and after paying the manager a brabe get permission. There are a few dogs in my building.

The condos have direct access to the beach and for me gnats valuable.

[sirineou]

In Patraya most cheap houses are further out then Condos when it comes to the beach, in jomtien a 2-3 BR house goes from 25 000 and up. I rented a nice 3BR 2 Bath house on a nice dead end street on south Pattaya RD for 8 years and payed 10.000 per month. Now renting a studio in VT 5 jomtien it's a nice studio with washing machine for 15.000 per month, the downside with condo is that pets are not allowed unless you are lucky and after paying the manager a brabe get permission. There are a few dogs in my building.

The condos have direct access to the beach and for me gnats valuable.

"In Patraya most cheap houses are further out then Condos when it comes to the beach,"

That is usually true because of the land dynamics I described in previous replies in this thread. Land prices are high and in limited supply beach front, a developer want to get the best use highest return in such situation , Thus Condominiums , where he can get maximum living sq/ft per Land sq/ft

[The Deerhunter]

Add the cost of house maintenance, pool and fitness, and your own security system and security guard 24/7 and tell us again about being cheaper.

I dont think the OP is asking what is more expensive to maintain, but rather why Condos are bure expensive to buy than Private homes?

The maintenance costs are arguable, For a Condo you have maintenance fees that you must pay where in a home you can chose if you want to maintain something or, not, or pay someone to do the work or do it yourself.

In a condo you share the maintenance costs where in a home you pay all of them yourself, but in a condo you also share the facilities where in a private home you can enjoy them in private. etc etc.

I often wondered the same question as the OP. Someone said that condos are more expensive to build , I would respectfully disagree. depending on land prices, it should cost cheaper per square ft for a Large condominium than for a private home , in an other word you can out a lot more Condo living square footage than private home square footage in the same land. also the labor an material costs Per/ sqft should be lower for a condo due to bulk buying .

And multiple units on the one piece of land, and shared walls, ceilings/floors, water supply, sewage & greywater,disposal, Simon & Garfunkel were not thinking about stand alone houses when they wrote "one man's ceiling is another man's floor. Security too, (although usually it is useless. If the crims are farang or known to the gate keeper or he is asleep or can't be bothered, or they look scary, through they go!! No problem!!) Condos usually tend to be on expensive land while 3-4 bed houses are usually in moo-bahns, out of the premium real estate area, frequently at least a bit or MORE!!!!!!.

Edited January 1, 2016 by The Deerhunter

[sirineou]

Add the cost of house maintenance, pool and fitness, and your own security system and security guard 24/7 and tell us again about being cheaper.

I dont think the OP is asking what is more expensive to maintain, but rather why Condos are bure expensive to buy than Private homes?

The maintenance costs are arguable, For a Condo you have maintenance fees that you must pay where in a home you can chose if you want to maintain something or, not, or pay someone to do the work or do it yourself.

In a condo you share the maintenance costs where in a home you pay all of them yourself, but in a condo you also share the facilities where in a private home you can enjoy them in private. etc etc.

I often wondered the same question as the OP. Someone said that condos are more expensive to build , I would respectfully disagree. depending on land prices, it should cost cheaper per square ft for a Large condominium than for a private home , in an other word you can out a lot more Condo living square footage than private home square footage in the same land. also the labor an material costs Per/ sqft should be lower for a condo due to bulk buying .

And multiple units on the one piece of land, and shared walls, ceilings/floors, water supply, sewage & greywater,disposal, Simon & Garfunkel were not thinking about stand alone houses when they wrote "one man's ceiling is another man's floor. Security too, (although usually it is useless. If the crims are farang or known to the gate keeper or he is asleep or can't be bothered, or they look scary, through they go!! No problem!!) Condos usually tend to be on expensive land while 3-4 bed houses are usually in moo-bahns, out of the premium real estate area, frequently at least a bit or MORE!!!!!!.

Yea sure , it makes seance. as an investor if I had a valuable piece of land such as beach front or central located etc. I wold want to get the best use for higher return ., and put as many units on it.In my Home Market of Daytona Beach FL and where I use to run a real estate franchise, the beach is lined up with condominiums. few miles further north at Ormond beach there are some private beach front houses and even though land prices are a little less in Ormond beach than they are in DB , the private beach front houses sell a lot more per sq/ft than the condominiums.

So I guess my point is , one needs to compare apples with apples and oranges with oranges.If one does that the condos are less expensive

[trogers]

Add the cost of house maintenance, pool and fitness, and your own security system and security guard 24/7 and tell us again about being cheaper.

I dont think the OP is asking what is more expensive to maintain, but rather why Condos are bure expensive to buy than Private homes?

The maintenance costs are arguable, For a Condo you have maintenance fees that you must pay where in a home you can chose if you want to maintain something or, not, or pay someone to do the work or do it yourself.

In a condo you share the maintenance costs where in a home you pay all of them yourself, but in a condo you also share the facilities where in a private home you can enjoy them in private. etc etc.

I often wondered the same question as the OP. Someone said that condos are more expensive to build , I would respectfully disagree. depending on land prices, it should cost cheaper per square ft for a Large condominium than for a private home , in an other word you can out a lot more Condo living square footage than private home square footage in the same land. also the labor an material costs Per/ sqft should be lower for a condo due to bulk buying .

Buy? Figures given by the OP are rental rates...

yes but before the OP can rent it the owner that offers it for rent had to buy it, and the cost of an item will determine the amount it is offered for rent.

also I see some offering land prices as an explanation for the price discrepancy . May I say that, Land prices per sq/ft would be the same for a private home as it would be for a condo located in the same ares. The difference is that you can put a lot more Living Square Footage in the same size land for a condo that you could for a private home , so in affect the land cost for a condo is less.

Sure if you want to build a condo in the midst of a ricefield 50 km from town...

But, you can also pay 20m for a rai of land in town and spent a million to build a 3-bedroom house and rent it out for 15K.

[WorkingTourist]

It sounds like I should find a home advertised in Thai. How would you suggest tracking such a place down at a lower rate? Are there rental companies I could contact? My wife speaks Thai, but can't read Thai very well (she grew up reading English and was never taught to read Thai). Thanks.

You can try google Prakard or Deal Fish. Those two sites are used for real estate.

But when MaeJoMTB says that adverts for houses in Thai are much cheaper, he fails to mention that the stuff offered is generally of a much lower quality than whats offered in the English ads (though not always, and it is true that some charge a premium for corresponding in English).

Have you been to Chiang Mai before? If not, then I would recommend against settling on something before you have visited the city. You really need to visit a few areas and definitely for houses, as many will be in these moo bans outside the city where everything you do requires taking your car/motorbike and driving onto the express way, which is why theyll be cheaper than a centrally located condo.

[WorkingTourist]

It always amazes me, why anyone would want to live in a shoe box condo ,with perhaps a good view ,over a large house with garden 3 bedrooms ,and parking for 3 to 4 cars each to his own I suppose ,mind you if I was a single guy living alone I suppose it would be better

So you suppose the condo would be better if your circumstances were different, yet you are amazed that other people would pick a condo over a house?

Also remember that foreigners cannot buy a house, and some of us want to own our residency, and even if we could buy houses, I doubt we would be able to afford centrally located houses in the same standard as a modern condo with all of its amenities and staff to maintain it.

Furthermore, I think the shoe box condos bought by foreigners are mainly holiday homes, which is much easier to manage than a “holiday house”.

There are plenty of larger condos occupied by those of us who stay here long-term. For the complex where I bought, the average condo size is above 100 sqm.

[CrashTestDummy]

It sounds like I should find a home advertised in Thai. How would you suggest tracking such a place down at a lower rate? Are there rental companies I could contact? My wife speaks Thai, but can't read Thai very well (she grew up reading English and was never taught to read Thai). Thanks.

You can try google Prakard or Deal Fish. Those two sites are used for real estate.

But when MaeJoMTB says that adverts for houses in Thai are much cheaper, he fails to mention that the stuff offered is generally of a much lower quality than whats offered in the English ads (though not always, and it is true that some charge a premium for corresponding in English).

Have you been to Chiang Mai before? If not, then I would recommend against settling on something before you have visited the city. You really need to visit a few areas and definitely for houses, as many will be in these moo bans outside the city where everything you do requires taking your car/motorbike and driving onto the express way, which is why theyll be cheaper than a centrally located condo.

Yes, I've been to Chiang Mai before. My wife and I have traveled around Thailand a decent bit and really like the CM/CR area. She grew up in the south, but we like the north. The plan is to rent a relatively cheap place in Thailand to be used as a "home base" while we spend a year traveling SEA. We fly into Chiang Mai, but may end up renting a place in Chiang Rai.

[trogers]

It sounds like I should find a home advertised in Thai. How would you suggest tracking such a place down at a lower rate? Are there rental companies I could contact? My wife speaks Thai, but can't read Thai very well (she grew up reading English and was never taught to read Thai). Thanks.

You can try google Prakard or Deal Fish. Those two sites are used for real estate.

But when MaeJoMTB says that adverts for houses in Thai are much cheaper, he fails to mention that the stuff offered is generally of a much lower quality than whats offered in the English ads (though not always, and it is true that some charge a premium for corresponding in English).

Have you been to Chiang Mai before? If not, then I would recommend against settling on something before you have visited the city. You really need to visit a few areas and definitely for houses, as many will be in these moo bans outside the city where everything you do requires taking your car/motorbike and driving onto the express way, which is why theyll be cheaper than a centrally located condo.

Yes, I've been to Chiang Mai before. My wife and I have traveled around Thailand a decent bit and really like the CM/CR area. She grew up in the south, but we like the north. The plan is to rent a relatively cheap place in Thailand to be used as a "home base" while we spend a year traveling SEA. We fly into Chiang Mai, but may end up renting a place in Chiang Rai.

The keyword here is 'traveling'. Security is the prime factor. You do not want to come back to a ransacked home base...

[MaeJoMTB]

The keyword here is 'traveling'. Security is the prime factor. You do not want to come back to a ransacked home base...

How many with houses in CM/CR have been 'ransacked'.

ZERO as far as I can tell.

How many posters in the CM/CR forums ...... thousands.

Edited January 3, 2016 by MaeJoMTB

[i claudius]

It always amazes me, why anyone would want to live in a shoe box condo ,with perhaps a good view ,over a large house with garden 3 bedrooms ,and parking for 3 to 4 cars each to his own I suppose ,mind you if I was a single guy living alone I suppose it would be better

So you suppose the condo would be better if your circumstances were different, yet you are amazed that other people would pick a condo over a house?

Also remember that foreigners cannot buy a house, and some of us want to own our residency, and even if we could buy houses, I doubt we would be able to afford centrally located houses in the same standard as a modern condo with all of its amenities and staff to maintain it.

Furthermore, I think the shoe box condos bought by foreigners are mainly holiday homes, which is much easier to manage than a “holiday house”.

There are plenty of larger condos occupied by those of us who stay here long-term. For the complex where I bought, the average condo size is above 100 sqm.

Not meaning to be rude ,but 100 sq mtrs to me is not large ,when you have a family, its a personal thing ,I prefers a two story house ,a garden ,store room parking for my car and a gate I can close ,but each to his own " whatever floats your boat" as they say.

[sirineou]

It always amazes me, why anyone would want to live in a shoe box condo ,with perhaps a good view ,over a large house with garden 3 bedrooms ,and parking for 3 to 4 cars each to his own I suppose ,mind you if I was a single guy living alone I suppose it would be better

So you suppose the condo would be better if your circumstances were different, yet you are amazed that other people would pick a condo over a house?

Also remember that foreigners cannot buy a house, and some of us want to own our residency, and even if we could buy houses,:

Furthermore, I think the shoe box condos bought by foreigners are mainly holiday homes, which is much easier to manage than a “holiday house”.

There are plenty of larger condos occupied by those of us who stay here long-term. For the complex where I bought, the average condo size is above 100 sqm.

" I doubt we would be able to afford centrally located houses in the same standard as a modern condo with all of its amenities and staff to maintain it."

Agreed, when comparing Apples with Apples, Condos are less expensive.

I also find it difficult to understand Condominium dwellers. Where would I put all my toys, what would I do when I am home?

But that's me,

I understand that different people have different needs and different preferences.

[WorkingTourist]

It always amazes me, why anyone would want to live in a shoe box condo […]

[…] For the complex where I bought, the average condo size is above 100 sqm.

Not meaning to be rude ,but 100 sq mtrs to me is not large ,when you have a family, its a personal thing ,I prefers a two story house ,a garden ,store room parking for my car and a gate I can close ,but each to his own " whatever floats your boat" as they say.

100 sqm. might not be large for a family with kids, but I think you agree that it is no shoe box either, nor do I think that majority of the foreigners choosing condos here are families with kids.

As for your two story house, most new condominiums feature duplex condos, though I hear that they are less popular with retirees (which make out a large portion of the market) because they are concerned about the stairs (even though I would consider them a health benefit).

Anyway, it’s clear that you prefer a house, I only replied because you seemed uninformed about why condos can be more attractive, despite lacking a garden and a gate that you can close.

[trogers]

The keyword here is 'traveling'. Security is the prime factor. You do not want to come back to a ransacked home base...

How many with houses in CM/CR have been 'ransacked'.

ZERO as far as I can tell.

How many posters in the CM/CR forums ...... thousands.

Depends on how many leave their houses unoccupied without any caretaker for weeks to months..., and with no relations living nearby.

[KittenKong]

The keyword here is 'traveling'. Security is the prime factor. You do not want to come back to a ransacked home base...

How many with houses in CM/CR have been 'ransacked'.

ZERO as far as I can tell.

How many posters in the CM/CR forums ...... thousands.

There are no burglaries in Chiang Mai? I dont live there (yet) and I dont follow that forum at all closely but it seems unlikely.

[teatree]

Foreigners cannot own land but they can own a condo, therefore condo prices are pushed up.

[i claudius]

It always amazes me, why anyone would want to live in a shoe box condo […]

[…] For the complex where I bought, the average condo size is above 100 sqm.

Not meaning to be rude ,but 100 sq mtrs to me is not large ,when you have a family, its a personal thing ,I prefers a two story house ,a garden ,store room parking for my car and a gate I can close ,but each to his own " whatever floats your boat" as they say.

100 sqm. might not be large for a family with kids, but I think you agree that it is no shoe box either, nor do I think that majority of the foreigners choosing condos here are families with kids.

As for your two story house, most new condominiums feature duplex condos, though I hear that they are less popular with retirees (which make out a large portion of the market) because they are concerned about the stairs (even though I would consider them a health benefit).

Anyway, it’s clear that you prefer a house, I only replied because you seemed uninformed about why condos can be more attractive, despite lacking a garden and a gate that you can close.

Actually i am not uninformed as my wife is in property ,and has sold and rented far far more condos than houses , ,they are hard to sell , i was just speaking for myself as a family man , i have in fact lived in a condo when i was younger , and loved it , but then i was single did not have so many possesions ,etc , i have been in hundreds of condos , over the years , and to be honest mainly the older ones and the 20 million plus ones were the only ones with enough space , but thats me , as i said before , whatever floats your boat .

[JayBird]

It always amazes me, why anyone would want to live in a shoe box condo ,with perhaps a good view ,over a large house with garden 3 bedrooms ,and parking for 3 to 4 cars each to his own I suppose ,mind you if I was a single guy living alone I suppose it would be better

Some people might have multiple houses/condo (maybe that small condo in BKK or Pattaya is a place they spend a few months a year only). I could imagine a couple living in BKK in a small condo but in a good location, yet the Thai Girl would have the 'family home' up country to go to (and keep his stuff) and the Foreign husband might still have his house in the UK. In which case it isn't so bad.

I've also peeked into a few condos where Thais are living, and they really *REALLY* cram their stuff in there. Floor to ceiling with storage boxes, clothes hanging everywhere, cushions all over the floor. I had maint. crew come into my condo once and he was shocked it was so 'open' and not cluttered

[JayBird]

Also in a given location, you may find that 'Modern' Condos are more tailored to the modern or western lifestyle, whereas the older Thai houses are more... thai style. So if you do NOT want the shower on the toilet, or do NOT like to see plumbing pipes and electrical cables running around the edges of the walls, may you shy away from a Thai house. I think the newer Thai houses are better, but their location may not be comparable to where you can get a Condo.

So aesthetics play a fair bit in the role. Also if you look at the condos, you'll see a lot of Yuppies, so *obviously* if you are a family of 4 and want a pet, you are going to eye-ball the house first. If you are two young(ish) kids, you want convenience and need less space as you'll be out and abouts a lot.

[theguyfromanotherforum]

It always amazes me, why anyone would want to live in a shoe box condo ,with perhaps a good view ,over a large house with garden 3 bedrooms ,and parking for 3 to 4 cars each to his own I suppose ,mind you if I was a single guy living alone I suppose it would be better

I would.

Livin' in my gf house for the past 3 years and it's a pain to get anywhere.

Houses in Thailand are not well maintained. Sure, neither are condos, but at least they are ok while new.

A house in Thailand. Never. Even if she pays for it (which she does).

Totally miss my shoebox condo in Toronto.

[JaseTheBass]

One of the tricks apartment building owners use, to stay competitive with pricing, is to offer a low rent, then slam you on electricity. I pay 8 baht per unit, when the owners rate is roughly 3.5 I believe. (Maybe someone has their bill in front of them and can share the real rate).

Im ok with it, because I realize if they didn't rape me on the electricity, the rent would simply be higher. 30sm studio, my bill is now 'only' about 1500 a month instead of 2500+ because I use a fan more now. The look of dissappointment on the owners face when he saw walking by with a new fan. Must have been thinking "well, thats 1500 a month right out of my pocket."

I think you'll find its Thai legislation that dictates higher service fees for 'flats'.

[afm171]

I own a house a couple of Km east of Sukhumvit. Some cost info for you:

Housekeeper (4 hours a day) 10,000

Electric (Bedroom a/c, four refrigerators and pool pump mostly) 3,500

Water 600

Phone and internet 800

Pool maintenance 1,500

Trash pickup 30

Insurance 500

Gym membership 4,000 lifetime

Other minor costs also like cable tv, bug spray, pool chemicals, etc

Adds up pretty quickly as you can see

"four refrigerators" ???

[trogers]

I own a house a couple of Km east of Sukhumvit. Some cost info for you:

Housekeeper (4 hours a day) 10,000

Electric (Bedroom a/c, four refrigerators and pool pump mostly) 3,500

Water 600

Phone and internet 800

Pool maintenance 1,500

Trash pickup 30

Insurance 500

Gym membership 4,000 lifetime

Other minor costs also like cable tv, bug spray, pool chemicals, etc

Adds up pretty quickly as you can see

"four refrigerators" ???

Probably a Muslim with four wives...

[watcharacters]

I own a house a couple of Km east of Sukhumvit. Some cost info for you:

Housekeeper (4 hours a day) 10,000

Electric (Bedroom a/c, four refrigerators and pool pump mostly) 3,500

Water 600

Phone and internet 800

Pool maintenance 1,500

Trash pickup 30

Insurance 500

Gym membership 4,000 lifetime

Other minor costs also like cable tv, bug spray, pool chemicals, etc

Adds up pretty quickly as you can see

"four refrigerators" ???

My kinda guy. I'm looking for a freezer as well.

[JayBird]

Four Fridges is feasible:

1) For frozen food (freezer)

2) For normal food

3) For Water/Soda

4) Dedicated Beer Fridge in the Man Cave

[piewarmer]

Disappointed new condos in CM have no pantry or laundry

[trogers]

Disappointed new condos in CM have no pantry or laundry

The Thai way is to use the balcony for both functions.

[ttthailand]

Haven't read all the posts but here is my opinion for what it's worth.

Condos normally offer security, a pool, gym, and are located in a central area. Houses may offer some of the same but chances are that the security is mainly for the main gate and does not cover the entire housing development, pool and gym may or may not be included or maintained, and the location of housing development is normally out side of town while condos are normally central. This is not always the case but normally holds true. Also, who wants to cut grass and worry about all those outside details. Condos provide everything you need with little fuss