There is no doubt that Thailand is one of the best places in the world to invest in property and settle down in. With beautiful views, amazing people, and an unbeatable cuisine (to name but a few highlights), it’s no wonder why so many people choose Thailand, to invest in property. The question however is; what type of property is worth investing in? In this article, we’re going to focus on pre-construction condos, their pros and cons, and whether they could be the right move for you.
What do we mean by a pre-construction condo?
Simply put, a pre-construction condo is one that hasn’t been built yet (or is currently under construction). Also called a new-build condo, when you purchase a pre-construction condo you are buying something that is not finished yet, so you will be the first owner. This is opposed to a resale condo, which has already had an owner and so is not brand-new.
Which of the two options you prefer is really up to you, but there are many benefits to going with a pre-construction condo (as well as a few downsides for you to consider before making your choice).
The pros
First let’s take a look at some of the positives to going with a pre-construction condo. Opting for buying something new in a project like Supalai Place Sukhumvit 39, a condo project in Bangkok, comes with many upsides. From knowing that you will be the first to live in your condo to getting some say in what it will look like, here are some of the top reasons to go for a new build.
- They are brand-new – it may seem obvious, but the benefits to a completely new property are manifold. You don’t have to worry about scratches, dents, weird smells or pet hair; you will be the first person to live in that condo and you will find everything in mint condition when you arrive.
- They can actually be the cheaper option than going for resale – another of the joys of a pre-construction condo is that you are essentially buying a future property at today’s prices. With house prices likely to continue to rise you are getting your condo at a lower cost than it would be after it was built.
- You can put your own stamp on it – instead of buying a resale condo and making costly renovations yourself, buying a pre-construction condo means that you will be able to decide what you want before you get there. Often you can choose fixtures and fittings to your taste so your new condo really will be a dream come true and not a fixer-upper.
The cons
While these pros are all great reasons to buy a pre-construction condo, there are a few cons to consider as well.
- It hasn’t been built yet! – While this is a positive it is also a potential negative as you are buying something you haven’t seen. It may change slightly from the original design or just be tough for you to properly picture without seeing it for yourself ahead of time.
- Delays do happen – it is often the case that projects are hit with unavoidable delays.
There are both positive and negatives to choosing a pre-construction condo, so why not start looking today and see if it could be the right fit for you.
