Buying a condo is a great way to enjoy the city life in Thailand. A condo can be a great investment, but it can also be a nightmare if proper planning and enquiries do not take place. Prior to buying a condo, there are certain considerations that should take place to ensure you find the place that fits your needs.
What Are the Condo Fees?
Condo fees are important to enquire about from the moment you begin looking at a property. Most times, condo fees are listed, but if they are not, ask the realtor right away. Condo fees can be either reasonable or outrageous, depending on the property. Given the variability, it’s extremely important to enquire how much the fees are and how often they are due.
In addition to enquiring about how much the fees are, it’s also important to enquire about what the fees cover. Typically, condo fees are for reasonable maintenance and upkeep around the main areas of the property. Fees may also cover security, concierge services, and the maintenance of the shared amenities. Unfortunately, there are some condo properties that take advantage of people who do not look at what the fees are actually for and can tack on unnecessary expenses. Knowing what the fees are, how often they’re due, and what they’re for will ensure your money goes to good use.
What Are the Maintenance Agreements?
Reading the fine print is important, especially when it comes to maintenance agreements. A huge perk with condos is that you do not have to worry about covering outdoor maintenance (with the exception of the condo fees). This is a great advantage over being a homeowner. With that said, each condo property has their own guidelines that require review prior to signing a contract. There is nothing worse than being stuck paying a huge out of pocket expense due to not thoroughly reviewing the maintenance agreement.
What Are the Rules and Restrictions?
Condo properties have rules and restrictions. On one hand, these rules and restrictions help keep the property in order and provide consistency and reliability. On the other hand, they can be quite limiting. Since the rules and restrictions have pros and cons, it’s important to review them to make sure that you can tolerate and abide by them. For example, some condos do not allow smoking on the balcony whilst others don’t mind it. Some may be flexible with parking whilst others are not. Take a close look at the rules to get an idea of the flexibility and whether they feel too limiting or just right.
Ultimately, purchasing a condo is a great investment when proper research and questions have been asked. Consult with the realtor to get all of your questions answered and to help you make an informed choice. A condo for sale in Sathon is affordable and easy to find. Doing a bit of research on the front end ensures that you will be satisfied and pleased with your new condo.