Purchasing an Older Condo or Newer Condo

Deciding on an older condo versus newer condo brings interesting perspective on the evolution of space availability. Most working professionals in Bangkok prefer to purchase a modern condominium right in the middle of the city. Most would usually prefer new models with many amenities. There are some who like older types of condos,  as they often have much larger spaces.

Old or New Condo Sales and Rentals

Older Units Offer More Space

A good example is Sukhumvit Soi 59 which comprises of two buildings; both old and new. The buildings are located close to each other. The older building, built around the 1990s, is well equipped with facilities like pool, sauna, a beautiful garden, and a very wide space for relaxing as well as a 24-hour security. The price for each condominium units here with floor area of 202 square meters would rent for around 50,000 baht per month. On the other hand, the new building, completed just this year, have also the same facilities with the old one, like pool, sauna and garden area with 24 hour security as well, is being rented for 45,000 up to 50,000 baht per month.  The units are a mere 70 square meters, which some consider too small; compared to the older condo units. A smaller unit for sale in the new building with about 42 square meters is being offered for 20,000 baht per month, as opposed to a 63 square meter condominium unit on the old building. Both units are equipped with modern furniture and facilities. But yet, there are people who are interested on renting a much bigger space condominium unit in a new building, harder to find. So they are curious to find out if it’s possible to rent a unit with bigger space in a modern condominium building. While this may be possible, there are actually some sacrifices that come with it. Like there is a condominium unit for sale in a completely modern building for 40,000 baht per month, and a space of 135 square meters. While the price might be acceptable for you, the location might not be convenient. This modern building is actually located far from the City proper, so you will have to spend on gas each time you travel to your workplace in Bangkok. Or if you don’t have car, commuting daily is way too inconvenient. So basically, there are certain conditions when it comes to choosing a huge and modern condominium unit.

When to BuyModern versus Older Condos

And because of this reality, a number of Bangkok working professionals would rather stay in an older condo versus newer condo, that offer huge spaces, instead of renting on those sprawling modern condominium buildings that are way too expensive. There is really nothing wrong with staying in an old building for as long as it is well equipped with all the modern facilities. However, for many foreigners visiting Bangkok for  a few months, staying in a modern condominium is ideal for them. Most  would not really mind staying in a small condominium unit, for as long as it is clean, modern and are equipped with the most modern facilities. In addition, most of these foreign individuals, especially those coming from the United States or in Europe would not mind spending a lot, for as long as they get their money’s worth. In the case of most of Bangkok’s working professionals, who are earning just an average income, it seems impractical for them to stay in a very expensive building knowing that they could actually buy a much cheaper condominium unit that have the same facilities. Regardless of the type of unit you choose though, best to buy a unit within your budget.
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