Condo Purchase

[payoff71 0]

Myself and a group of friends are considering clubbing together to buy a place (condo) in a decent development near the action. (by that I mean Walking street 5-10mins walk)

We are looking for a decent sized 3 bedroom condo in a Tower type development with broadband access, pool and all of the usual ammenities.

Unfurnished or furnished is fine with us.

We are looking in the 4 million baht region.

Is this a realistic goal, how is the market of late and is this a good/decent time to buy or should we wait a little while?

Could anyone direct me to a good and trustworthy resource for checking out places/options in the area on the internet until we can all come out and have fun looking for a place in person

[LordFlash 45]

Hi,

 

I think you and your friends might struggle to find something of that size in that location for 4 Mil THB. Certainly not anything in the more sought after projects. 3 bedrooms close to the action is realistically going to cost you 7 Mil THB upwards. There are lots of other options if you don't mind being a bit further out.

Check out my website - www.siamrealestate.com or email me at adam@siamrealestate.com

 

Cheers!

Adam

[bangkapiboy 5]

Better for each of your friends to buy their own studio units I think -- could be all in the same building.

[phw10 0]

Many boardies will say don't buy, rent. They argue it is safer. Having said that I am sort of prejudice since I bought a condo. I agree with LordFlash. You may want to move a little further out and get quite a bit more for your money.

 

I also agree with bangkapiboy. Some of your friends may love it at first and then decide not to use it and want you to buy their share. I co-owned a condo on the Central Coast of California with two others and I wanted out and even though we had a written agreement, it caused some problems with the remaining two owners in that they cannot now sell their shares without screwing over the remaining one. I know one wants to sell but he knows the remaining one cannot affort the condo by himself. These are small things, but they are important. Lordflash can probably find you 4 studios for around 1.5 to 2 million baht that would work great for all your friends.

[barry_bonds 1]

I agree what others have mentioned in that it is not a good idea to co-own a condo, as many things can happen to break-up the partnership and someone may want out of the deal. All you really need is about 50 sqm or a studio, as I'd be surprise if you would be spending most of your time in it.

 

I purchased a condo knowing that it is much cheaper to rent. However, I justified my purchase believing that I would be using the unit immediately as a vacation home and potentially a place to retire (future) for "x" number of months in the year, especially during winter. One of my criterias was that the condo is both desireable and easy for me to rent out, prior to my retirement and when I'm not on vacation.

[torrenova 644]

I can make rgeat arguments for buying and renting condos but none for shared purchases unless through a non Thai company and solely as investment. Even then it is problematic.

[kdc1899 1]

Myself and a group of friends are considering clubbing together to buy a place (condo) in a decent development near the action. (by that I mean Walking street 5-10mins walk)

We are looking for a decent sized 3 bedroom condo in a Tower type development with broadband access, pool and all of the usual ammenities.

Unfurnished or furnished is fine with us.

We are looking in the 4 million baht region.

Is this a realistic goal, how is the market of late and is this a good/decent time to buy or should we wait a little while?

Could anyone direct me to a good and trustworthy resource for checking out places/options in the area on the internet until we can all come out and have fun looking for a place in person

 

Welcome

You may like the action at soi 7/8 better than the South Pattaya scene. You may like Naklua much better.

I do. Maybe Soi Baukhow floats your boat.

You can rent a room on soi 6 for 4,000 baht per month .

LordFlash obviously knows english and he has a reputation to maintain, so he would be a good place to start when you arrive.

Pattaya is not very spacious, so being close to the action is quite relative. You can live in one of the new North Pattaya Road developments and still be one baht bus from the action.

There's a great neighborhood west of Sukumvit/ south of Pattaya Tai/ north of Thepprasit/ east of Pratmanak.

This will be one instance, for y'all, where the journey will be more satisfying than the goal.

[dacah 0]

You are best with someone that has a good perspective on Pattaya

 

As has been mentioned before Lord Flash ie :Adam...has a good knowledge of Pattaya.

 

He is also one that when he doesnt know the answer...says he doesnt know!!!!

 

Unlike the Thais that want to please .... save face .

Edited March 14, 2007 by dacah