My younger sister wants to purchase a new condo for herself, as she plans to move out of her current unit and rent it out—likely for around 35,000 baht per month—which would cover the payments for the new property. This approach, commonly referred to as "farming," involves leveraging existing assets to generate further wealth. If she continues this farming strategy for 10 to 20 years, she could eventually own another condo outright. The idea alone is quite exciting.
Bangkok Condo Investment Tips: Lessons Learned From a Real Estate Agent
Let's review the criteria he prefers for the new condo. It should be either recently constructed or at least not too old, and one bedroom is sufficient. The budget is capped at 7,000,000 baht; alternatively, monthly installments up to 35,000 baht are acceptable. Ideally, the location should be in the city center with convenient access for commuting, and understanding the buying process can help navigate these choices. It's important that the expressway is easily accessible since frequent travel to other provinces is necessary. Proximity to the BTS, preferably within walking distance, is a priority. As for the building type, a high-rise is preferred, though a low-rise would also be considered suitable, according to his younger sibling.
The requirements outlined earlier appear manageable. My role involves showcasing condominium projects, so our attention should be on those nearing transfer or already in the process. It’s feasible to locate individuals willing to provide a down payment matching the investment or even conceding a down payment at a loss.
Let's take a look at which condos might be eligible.
1. Life Wireless - Near BTS Station Condominium in Bangkok
Highlights: Units are available for around 170,000 baht, making them competitive in the market. The property is in a promising location for future development and appreciation, ideal for long-term investment. Its proximity to the expressway allows convenient car travel, though reaching it may be tricky for first-time visitors.
Disadvantages: The unit's layout has several rooms, which might make the space feel segmented. It's also a bit far from the nearest BTS station, which could inconvenience public transport users. Additionally, the building is under construction and will be finished in 2 years, so immediate occupancy isn't possible. This waiting period may affect your plans if you're seeking properties with quick move-in options or faster rental returns.
Suitability score: 10/10
2. Park24 - Modern Condominium in Bangkok
Highlights: The property has an appealing aesthetic, featuring a modern design that many find visually pleasing. Its spacious layout creates an open and airy atmosphere, making the interior feel comfortable and inviting. The abundance of common areas provides residents with multiple places to socialize, relax, or work, enhancing the sense of community within the building. For those considering renting, the unit is likely to be livable and attractive to potential tenants due to these amenities.
Cons: While the location is generally considered good—perhaps close to shops, cafes, or desirable neighborhoods—there are notable accessibility challenges. The property is not conveniently located near the BTS (Bangkok’s Skytrain system), which can make commuting via public transportation more difficult for residents. Similarly, access to major expressways is limited or inconvenient, posing challenges for those who drive. Additionally, the developer behind the project is not a large or well-known company. This could raise concerns regarding construction quality, long-term maintenance, and reliability of services compared to projects developed by established firms. Prospective buyers or renters should weigh these factors carefully when making their decision.
Suitability score: 10/10
3. Rhythm 36-38 - Luxury Condominium in Bangkok
Highlights: The building is now completed, and it's notable that some current owners are selling their units at a loss, which could suggest an opportunity for buyers looking for a bargain or a potential concern regarding the project's resale value retention. The location is a definite plus; being within walking distance to the BTS (Bangkok Mass Transit System) makes it highly convenient for commuting and adds to its overall appeal for both residents and investors.
Cons: Despite its practical location, the building's aesthetic may not appeal to everyone. The design has been described as unremarkable or unattractive, which can be a subjective but important factor for potential buyers or renters who value visual appeal and architectural style. Additionally, the fact that there are sellers willing to take a loss raises questions about the long-term demand and satisfaction with the property. This scenario could be a red flag, suggesting possible issues such as oversupply in the area, concerns about construction quality, or changing market dynamics.
For prospective buyers, it's important to investigate further: inquire about reasons for resale at a loss, inspect the building's construction quality and amenities, and consider how much weight you place on aesthetics versus location and price. If you prioritize convenience and potential value buys over design, this property might still be worth considering. However, if visual appeal and confidence in long-term investment are top priorities, additional research is recommended before making a decision.
Despite these concerns, luxury condos like this one can still offer significant value. The property stands out for its beautiful architecture, which exudes a strong, masculine aesthetic—making it particularly appealing to those who appreciate bold and modern design elements. Its location is another major advantage, as it is situated within walking distance of the BTS (Bangkok Mass Transit System), ensuring convenient access to public transportation and making commuting around the city much easier. Additionally, the rooms feature extensive glass paneling, allowing for ample natural light and offering panoramic views, which can enhance the living experience and create a pleasant, open atmosphere in a condo unit.
When comparing buying a condo unit to buying a house, condos typically offer more convenience and amenities such as security, maintenance, and easy access to public transportation like being near the BTS. Houses, on the other hand, tend to provide more privacy, land ownership, and greater design flexibility but often require more maintenance and may not be as centrally located. Buyers should consider their lifestyle preferences, desired amenities, and proximity to transportation when deciding between a condo and a house.
In terms of investment potential, it's crucial to understand that while some units may be selling at a loss now due to various factors such as market saturation or personal circumstances of sellers (which could be temporary), the overall trend for luxury condominiums in prime locations like Bangkok tends to be positive in the long run. Therefore, with careful consideration and research into current market conditions and individual unit specifics, purchasing in this development could still yield fruitful returns in the future.
Suitability score: 10/10
4. ideo Q 36 - Modern Condominium in Bangkok
Highlights: The property stands out for its beautiful architecture, which exudes a strong, masculine aesthetic—making it particularly appealing to those who appreciate bold and modern design elements. Its location is another major advantage, as it is situated within walking distance of the BTS (Bangkok Mass Transit System), ensuring convenient access to public transportation and making commuting around the city much easier. Additionally, the rooms feature extensive glass paneling, allowing for ample natural light and offering panoramic views, which can enhance the living experience and create a pleasant, open atmosphere.
Cons: One notable drawback is that the price of the units may be higher than other comparable properties in the area, potentially making it less accessible for some buyers or renters. Furthermore, the building is still under construction and is projected to be completed in approximately two more years. This could be a significant inconvenience for those who are looking to move in immediately or need housing on a shorter timeline. For example, my younger sibling is eager to relocate right away, which makes the current unavailability of move-in-ready units a clear downside. Before buying into a condo, it’s important to review the Homeowners Association (HOA) rules, fees, and financial health. Look for clear guidelines on maintenance, amenities, pet policies, and approval processes for renters or renovations. Check if the HOA has a history of special assessments, what is included in the monthly dues, and whether there’s a healthy reserve fund for future repairs. Understanding these details will help you avoid unexpected costs and conflicts after purchase.
Overall, while the building offers impressive design and an excellent location, prospective residents should weigh these benefits against the higher cost and the waiting period before completion. If you're buying a condo for the first time, the mortgage process generally includes determining your budget, getting pre-approved for a mortgage, researching suitable properties, visiting available units, and working with a real estate agent to make an offer. After your offer is accepted, you'll complete inspections and finalize paperwork before closing on your new home.
This property stands out for its architectural beauty and thoughtful design, making it visually appealing both inside and out. The lobby and common areas have been carefully curated to create an inviting and upscale atmosphere for residents and visitors alike. In terms of functionality, the management is reported to be efficient, ensuring that the property is well-maintained and residents' needs are promptly addressed. Additionally, the property offers solid rental returns, making it an attractive option for investors seeking steady income. When viewing a condo for sale, consider asking questions about the upkeep and rules of the common areas, the efficiency of the property management, maintenance fees, security, and any renovation plans or upcoming assessments. These questions will help you get a clear understanding of both the living experience and the investment potential.
Suitability score: 10/10
5. LPN24 - Condominium in Bangkok
This property stands out for its architectural beauty and thoughtful design, making it visually appealing both inside and out. The lobby and common areas have been carefully curated to create an inviting and upscale atmosphere for residents and visitors alike. In terms of functionality, the management is reported to be efficient, ensuring that the property is well-maintained through effective property maintenance and residents' needs are promptly addressed. Additionally, the property offers solid rental returns, making it an attractive option for investors seeking steady income.
However, there are some considerations to keep in mind. The location is described as average, which may affect convenience or long-term appreciation potential compared to more prime areas. Another key factor is price—values have increased significantly over time, and many buyers have already entered the market, driving prices higher. Prospective buyers should be aware that purchasing at the current price point means accepting the premium that has built up due to heightened demand and market activity. When comparing condos to townhouses and duplexes, buyers should note that condos often provide more amenities and require less maintenance, but may have stricter ownership rules and higher monthly fees. Townhouses and duplexes typically offer more privacy and direct access, which some buyers prefer, but may also come with additional upkeep responsibilities.
Overall, while the property excels in aesthetics, design, and management, buyers should carefully weigh the cost against the location and the already significant price growth before making a decision. It’s also important for a condo owner to factor in typical costs and fees associated with owning a condo, such as monthly condo association fees, property taxes, homeowner’s insurance, maintenance expenses, and occasional special assessments that may arise for building repairs or improvements.
Suitability score: 10/10
6. Noble Recole - Condominium in Bangkok
Highlights: The price for accommodation or property in Asoke, considering its central location in Bangkok, is relatively reasonable and not too expensive compared to similar neighborhoods. Additionally, one of the key advantages is its proximity to public transportation—specifically, you can reach the BTS (Bangkok Mass Transit System) station with a short walk of about 500 meters. This makes commuting around the city convenient and efficient, which is highly valued in a bustling urban area like Asoke. The neighborhood itself is known for its vibrant atmosphere, with easy access to shopping malls, restaurants, cafes, and entertainment venues, making it a popular choice for both locals and expatriates.
Cons: However, there are some downsides to consider. According to my sister, one of the main drawbacks of living in or around Asoke is the frequent traffic congestion. Asoke is a major commercial and business hub in Bangkok, and its roads can become heavily congested during peak hours, especially around major intersections and near public transport stations, which can influence mortgage rates. This can lead to longer travel times by car or taxi and may be a point of frustration for residents who need to commute daily or travel by road frequently. Despite its convenience in terms of location and amenities, potential residents should weigh the impact of traffic jams on their daily routines.
Overall, while Asoke offers great value and accessibility thanks to its central location and public transportation options, prospective tenants or buyers should be prepared for busy city life and occasional delays caused by traffic congestion.
Suitability score: 10/10
Condo Complex on Thailand Real Estate Market
Buying a condo is a good way for people to get into real estate. It can help you own something without paying too much. You also do not have to deal with things like caring for a whole house. When you pick a condo, you need to ask about things like repairs or fixes that are happening in the building. These things might change how much money you have to pay each month and how you feel living there.
When you pick a condo, think about the different types of buildings. These can be small with just a few homes, or very big with hundreds. Each one gives you a different way to live and meet people. A condo can take away many of the jobs you have for the outside part of your home. The homeowners association usually takes care of landscaping and upkeep of common areas, so you can have a more easy-going life.
When picking a condo, you need to look at the way the rooms are set up. You should also check the things offered in each unit. These can really change how you live, and be important for your money and your future. It’s good to know that money scams and fake investments happen in the Bangkok condo market. Make sure you read about AML/CFT compliance (Anti-Money Laundering/Combating the Financing of Terrorism) when you decide to invest your money in a condo.
When you are ready to pick a condo, think about what the condo group decides together. These choices can change what your home is worth. The value of your condo can change because of this, and it could change how much you get from your investment over time.
Does anyone regret buying a condo? : r/FirstTimeHomeBuyer
While some individuals may express regret after buying a condo, experiences vary widely. Factors such as location, amenities, and financial stability play crucial roles in satisfaction. Researching thoroughly and understanding market trends can mitigate risks, ensuring you make a well-informed decision when choosing a condo for investment.
Conclusion - Choose a condo in the city center for your younger brother, 1 bedroom, price not more than 7 million baht (per square meter not more than 200,000 baht)
It should be like this. If you have new ideas about home loans, please tell me. If you have things you want to sell, please write them in the comments. Thank you for your comments. I want to let you know that I now have my own website.
I want to hear what you think and any ideas you have about my products or the website. Your thoughts really help me make things better for everyone. This includes stuff like association dues. If you want updates about new items, special deals, or events, you can sign up for my newsletter on the website. I would be thankful if you share the website with your friends who may also be interested. Thank you for your support as I start this new journey. I look forward to talking more with you here and on my website.
Owning a condo is good for several reasons. You get shared spaces everyone can use. You do not have to do as much work as you would in a single-home. The price can also be lower most of the time. But, you do have to pay fees every month. There may be some rules you need to follow in your condo. You usually get less privacy than if you lived in a house by itself. You can share your own story or tell us what it is like for you to live in a condo in the comments.
FAQs (Frequently Asked Questions)
What are the key criteria for choosing a new condo for investment and personal use?
The key criteria include selecting a recently constructed or not too old condo, preferably with one bedroom, within a budget of 7,000,000 baht or monthly installments up to 35,000 baht. The ideal location is the city center with easy access to expressways and BTS stations. Both high-rise and low-rise buildings are acceptable, focusing on condos nearing transfer or already in process.
How does renting out the current condo fit into the overall property investment strategy?
Renting out the current unit at 35,000 baht per month aligns with a farming strategy that uses existing assets to generate wealth. This approach supports owning another condo within 10-20 years by creating steady rental income, which can help finance future property acquisitions.
What should be considered when evaluating condos like Life Wireless, Park24, Rhythm 36-38, and Ideo Q 36?
Consider factors such as location proximity to BTS stations and expressways, building age or construction status (under construction vs completed), design quality, developer reputation, accessibility challenges, resale reasons and construction quality (especially for units sold at a loss), price competitiveness, and suitability scores. Lifestyle preferences and desired amenities should also influence the decision.
What are important aspects to review in condominium homeowners association (HOA) rules and fees before purchasing?
It's crucial to review HOA rules regarding maintenance responsibilities, amenities usage, pet policies, approval processes for renters and renovations, special assessments, monthly dues, and reserve fund status. Understanding these guidelines ensures awareness of ongoing costs and regulations that affect ownership experience.
What steps should be taken when buying a condo in Bangkok?
First, determine your budget and get pre-approved for a mortgage. Research potential properties thoroughly and visit units in person. Work with a qualified real estate agent to make an offer. Complete necessary inspections and paperwork before closing the deal to ensure a smooth purchase process.
What are common regrets after buying a condo and how can they be mitigated?
Regrets often stem from issues related to location disadvantages, inadequate amenities, or financial instability of the condominium association. To mitigate these risks, conduct thorough research on market trends, building conditions, HOA financial health, maintenance history, and neighborhood dynamics before making a purchase decision.
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