6 Reasons to buy a Condo in Bangkok
In long term the price of real estate always increase making buying real estate one of the lowest risk long-term investments we can make. For example residential property prices in Thailand appreciated (increased) more than 40% during last 8 years. Historically, real estate has had a long-term, stable growth in value. If you need to choose between “investing” in a new car or in a new condo, a condo mostly probably wins as it will appreciate (increase in value) over the years while a vehicle depreciates (decrease in value). Property investors who build some equity may also be in a financial position to buy another property to rent out. Property investment may be considered for two general purposes.
How much are condo fees, and what do they cover? Generally, condo fees pay for the maintenance of any amenities outside your personal living space that you share with your neighbors. “Condo fees are your percentage share of the costs to run the building as a whole,” explains Janice Pynn, president of Simerra Property Management. If the condo complex has high-end shared features such as a swimming pool, gym, and spa, condo fees can be several thousand per month. Average condo fees range from around $100 to $700 per month, although these fees can go much higher based on what amenities they cover.
Exterior maintenance: Condo owners also share the cost of exterior common areas like fences, walls, gates, pools, landscaping, and window cleaning, and seasonal expenses like snow removal, winterizing, and cleaning out rain gutters. If a gardening crew comes regularly to take care of the landscaping, its fees are also included. Security: This could range from cameras at the entrance to full-time guards patrolling the grounds. If visitors have to be buzzed in to the building, this system will be covered by your condo fees.
What is a condominium? Short for “condominium,” a condo is a private residence within a larger building or complex. The first condo in the United States was built in Salt Lake City in 1960, according to Matthew Gordon Lasner, author of “High Life: Condo Living in the Suburban Century.” Since then, this residence style has truly taken off. How much are condo fees? Condo vs. apartment: What’s the difference? What is a condo? Condo vs. house: What’s the difference? What is an assessment? What is a condominium?
