Pros and cons of buying a condo

Condos are a popular type of estate among people who live alone and have a busy life. But some people prefer townhouses and a proper apartment to this hybrid form between a house and an apartment. So everyone has their preferences. Even in a popular country like Thailand, where solo folks usually settle down, prefer condos over houses. However, condos are not only for single people but for couples and families as well. Thailand real estates are popular among locals and foreigners all the same. Whether it is a good house or a condo.

There are many good points to owning a condo, but it is not for everyone. Here are some pros and cons that can help you determine whether you want condos or Thailand houses.

  • Pro: You do not have to worry about things like mowing lawns – This is because all of that is taken care of by the condo association of the area. As you pay a specific amount for the maintenance, they take care of any repair or maintenance required for the condos. This is one of the best perks as it can lower the burden of the work and help with tending to other important priorities.
  • Con: Associations do not always run smoothly and are unreliable – This is because some of them have low funds. Check and do thorough research on the association before buying a condo. If the associations do not run efficiently, then it is better to look for another place. Moreover, there may be associations with many condos under them, but due to the lack of funds and undue payments, they are unable to operate properly. Even if the association has like a dozen condos under them, with regular deposits, they can maintain the community even if one or two owners fail to pay.
  • Pro: Condos are cheap – Condos are considerably cheaper than traditional houses. However, it also depends on the size and location of the properties. Even so, you will find that condos are generally affordable than houses. And the popularity of condos, especially among busy people who live alone, is increasing rapidly. So the condos are not going to go out of business any time soon.
  • Con: Condo rates charge more than mortgage payments – You have to pay the association fees as well. The condo association is an organization that takes care of the condos community under them and manages the extra facilities offered. Here, you will have to shell out money that depends on the location of your condo and the amenities that are provided. However, the fees that are deposited usually go to maintaining the area and managing the condos. So, in that case, it is put to use in a useful manner.
  • Pro: Sense of a community – As condos are more attached to each other than the regular houses in a neighborhood, you may feel subconsciously closer to your neighbors. This is beneficial as it builds a sense of community within the owners and residents of the condo. It also helps in being friendly and familiar with others so that you can help each other in times of need.
  • Con: You do not decide who are your neighbors – This is true in any form of property. We cannot say or decide who is going to stay beside us. You will find noisy neighbors or neighbors with unusual living habits. In these cases, it is better to communicate with the neighbors and the condo association and try to reach a mutual decision.

Jackson Lee

Ryder Jackson Lee: Ryder, a property manager, offers advice on managing rental properties, landlord tips, and insights on the rental market.

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