If you are a first-time condo buyer, you might be confused about how to approach all things in a perfect manner. We get it is a huge step; after all, you are going to become the owner of your living space. So, let us help you on your way to becoming the owner of the beautiful condo.
Buying a Khlong San Condo (คอนโด คลองสาน, which is the term in Thai) is a bit different than buying a house. You need to go through a lot of stuff, like who are your neighbor, utilities, facilities, and other physical elements. Moreover, you also have to prepare your finances to pay for the condo.
Here we have listed an entire process that you are going to face when you are on your way to buy a Khlong San Condo.
The first step is to go through the loan application process. It is one of the challenging and crucial steps where you have to hold yourself together. The lenders are very strict when it comes to lending money for the condo. Moreover, if you desire to buy more than a single unit, a lender will be extra careful. Usually, lenders do not invest if the single person is going to take more than 10% of the unit in a single building. So, be prepare and plan out things in advance.
Consider Other Costs
Buying a condo or any living space often comes together with few hidden costs. For example, you have to pay for utilities, and insurance, which is going to be a bit expensive depending on the value of your condo. Moreover, you also have to monthly condominium maintenance fee. The condo facilities such as lobbies, pool, recreation rooms, parking, repairs, and roof replacement are all covered by your monthly maintenance payments. Make sure to create enough finances to sustain a few of the hidden costs.
Avoid The Condo With Problems
The only way you can stay from buying a bad condo is to research yourself. You can go to HOA meetings and see what your neighbors are like. You can even go ahead ask a few of the residents about their experiences. Check if they are enjoying their accommodations or if they are not enjoying, ask for the reason behind their dissatisfaction.
Should You Own A Condo?
Last but not least, ask yourself whether you should manage to live in a condo. Condo like Khlong San Condo is located in urban settings that means besides all the comfort of basic things being nearby; you also have to face the city noise.