Advantages and Disadvantages of Living in a Bangkok Condo

Bangkok is the capital of Thailand and the country’s largest urban area and primary city. In Thai, Bangkok is called Krung Thep Mahanakhon which translates to “city of angels”. Bangkok is located in the central part of the country along the Chao Praya River. It is one of the premier tourist destinations in Asia which offers a wide array of attractions to local and foreign tourists like the Royal Garden Palace, the temple of the Reclining Buddha and the Bangkok National Museum. The city is also a regional force in finance and business. The standard of living has greatly improved and that is why more and more foreigners, mostly expats, who purchase property in Bangkok and choose to live there. Most people prefer to live condominium.

A condominium unit is the form of a housing tenure or other properties where a specified part of a piece of real estate is owned individually while the use of and access to common facilities is shared by all the tenants or all of the individual owners. Let us find out the advantages and disadvantages of living in a condominium in Bangkok. And then after reading you can decide if you want to go get one.

1. Bangkok has a strong economy. Investors who also decide to purchase properties in the city are confident that Bangkok’s economy will remain strong. Most of the country’s top financial institutions and commercial banks are located in the city, just like the Stock Exchange of Thailand.
2. A multitude of Bangkok condo units are available. There is always a condo unit to fit a person’s needs in Bangkok, depending upon the budget, lifestyle, tastes and requirements. The most popular types of condos in the city are townhouses, apartments and single detached homes. Generally a Bangkok condo unit comes with comfortable bedrooms with adjustable beds, fully equipped kitchen with a superb dining area and bath areas with water supply that is never interrupted. Most condo units also have very good locations. Most are found in quiet and peaceful places and most are also within the major business or commercial districts.
3. Very affordable. Living in Bangkok condos and Bangkok apartments are relatively cheaper than owning a house. You get an opportunity to become part of a unique community living and what can be better than the fact that it costs very little to maintain because you share the cost with the other dwellers.
4. Safe. There are lots of people who live in condos so the chances for theft and robbery are very small or even completely eliminated. Bangkok itself is a safe place for foreigners and locals alike. Condo units have 24/7 security so residents are safe from any environmental or human harm.
5. Numerous facilities. In luxury type condominium units you get to enjoy parking areas, gym facilities, fitness rooms, laundry, Jacuzzi, saunas, pool and library. You get access to all these classy, state of the art amenities. If ever you don’t like the in-house facilities then you can always go out and look for other options.
6. A condo can be legally owned in Thailand. A special law has been formulated for purchase of condominiums; this act is known as the Condominium Act of Thailand (1999). This allows foreigners to legally own condominium units in Thailand.
7. Buying a condo is easy. There are lots of real estate consultants, property builders and realtors in Bangkok. Finding one is fairly easy, all you need to do is ask around or look at the classifieds.
8. Easy to maintain. If something gets broken or if something needs to get fixed then you don’t have to go through the hassle of finding a repairman or a handyman. The concierge or building manager will take care of it for you and there are lots of reliable handymen in the city who can get things fixed in no time.

Disadvantages of Living in Condo Units in Bangkok

• Rules and regulations. Most, if not all condominiums have their own rules and regulations that the residents should follow. Some do not allow pets inside the condominiums vicinity and some are as strict as limiting the number of occupants in one condominium unit. In other words some one else may set your rules.

• If other co-owners are uncooperative or do not believe in maintaining your investment. This may mean some are objecting to the maintenance fee so nothing gets done and you property value goes down.

• You cannot decide to do things with out board approval.\

• You must watch the general fund and money issues closely and make sure a key individual and their allies do not walk away with funds.

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