Buying a Condominium
 

Is a condominium a worse investment than a house because you do not own any land?

Does the average condominium increase or decrease in value as time goes by?

What is the life span on a condominium?

What are somethings you should consider in a condominium? (stuff like # of elevators, fire exits)

Re: Buying a Condominium
 

Where are you buying?

Re: Buying a Condominium
 

Bangkok Thailand.

Re: Buying a Condominium
 

I wouldn't buy in Thailand right now... for investment. But if you want a better place to live, go ahead. The dollar vs the baht is [censored] insane right now and there is a bit of instability in the area (as I'm sure you are aware). I'm not sure it's the best plan.

Re: Buying a Condominium
 

I was hoping you would answer Florida. I could give you a lot of info. I don't know anything about condo's in Thailand> But, I would assume that there would be some similar concerns.

Maintenance fees (can be a major cost), owned or leased land greatly affects resale, general condition of the building, current state of market (this is huge-4 years ago in FL you could have purchased units for 250 that 2-years ago were selling for 650-700 that are now sitting vacant w/no buyers), quality of construction (huge implications if your're buying new-(sound isolation is very important) costs of insurance.

Sorry I can't be more help.

Re: Buying a Condominium
 

Leaky condos have been a major problem here in Vancouver and the surrounding suburbs. Due to shoddy building codes and the use of inferior materials many condo owners are having to foot the bill when the roof starts leaking. It can take a year or even over a decade before things start going bad too.

Re: Buying a Condominium
 

as far as comparing them to houses with land - they're simply valued for what they are. one isn't inherently less valuable on its face.

when looking at condos - in addition to the usual stuff like location, the current market - you need to find out about special assessments (have there been any recently, are there any on the horizon) and you need to know how much cash the association has in reserves.

Re: Buying a Condominium
 

The owners ASSociation is something you to consider as well. Get a copy of the bylaws and study dat [censored]. There's a lot of haters out there

Re: Buying a Condominium
 

Just keep renting f2p2.

Re: Buying a Condominium
 

I prefer condos for the life style but in general they will cost more per square foot. They will cost more per square foot to maintain and they will appreciate slower. They weather poor real estate markets worse and when you sell it looks too similar to everyone else in the building thats selling. That being said I would still get one in the best location possible.