In Thailand, perhaps more than in our home countries, condo living is widespread. As you will have witnessed for yourself, there are numerous options available throughout Pattaya ranging from budget studios to luxury multi-bedroom penthouses. The city has something that will match everyone’s taste and budget – just some you have to search a little harder for than others! If you are unfamiliar with condo living, here are just a few of the pros and cons.
You can own it in your own name
The biggest advantage if you are looking to buy a property from a foreigner’s point of view at least, is that you can own the condo in your own name. In Thailand there are strict laws regarding the ownership of land, but assuming that specific criteria are met, you have the extra security of having the title deeds, and you are free to do with it (within reason), what you please.
Most condos in Pattaya are in prime locations, often close to the beach or near local amenities. The location is a significant factor when you are purchasing any property, and in Pattaya, you will have a wide selection to choose from whether you are looking at Wongamat in the north or Na Jomtien to the south.
Many condos, particularly the newer ones, have superb facilities with developers often competing to provide the best available. Fitness centres, pool areas, and other communal facilities are far better than you would get in a private house and, in many cases, in a village. These facilities not only give you lots to do, but they can also potentially save you thousands of baht each month.
Although a strong community spirit is common in many villages in Pattaya, it is arguably to a greater extent in a condo. It is primarily due to the numbers living there and the fact that you are closer together. If you are new to the area, this can help you to settle in and make new friends quickly.
No control over neighbours
Again, this could be a problem in villages too, but unfortunately, it tends to be a more significant issue in condos. Noisy or disruptive neighbours can have a big impact on others living in the property. While the management and juristic teams can issues warnings, if the person owns their property, the options available can be limited – for a quick fix at least.
Restrictions on what you can do to your own property
This can be an advantage or a disadvantage depending on your point of view. As you are living in a building with perhaps hundreds of others, you will be restricted to the alterations that you can make. For most people, this isn’t a problem, but some may feel aggrieved that they can’t carry out their desired refurbishments in a property that they own.
It could fall into disrepair
Sadly, if other residents don’t keep up their maintenance payments or a sub-standard management team is installed to run the property, it could fall into disrepair. The worst thing about this is that as an individual, there is very little that you can do about it. It is therefore crucial that strong committees are formed to ensure the smooth running of the property.
Can be harder to sell
If you buy a quality condo in the first place, this is seldom a problem. However, due to some of the issues mentioned above, external forces may make it harder for you to sell your condo. With more modern condos entering the marketplace all the time, it is crucial that when you buy a property, you think about longevity. Several older buildings are as desirable now, if not more so than some of the new properties.