Proposed Condo Purchase

[hotfunguy]

Hi guys

I am considering buying a studio or 1 bedroom condo in Pattaya.

What are the loop holes I should be aware of?

Any advise is much appreciated.

Edited July 22, 2019 by hotfunguy

[barronglass]

farang ownership only, what builder and what condo, what location......    

[Scuba+]

Buying off plan is a risk not worth taking with a few exceptions

[marko1961]

Do your homework try to find out as much as you can about the building,be wary about buying  off the plans ,many people get caught out when buying from off the plans 

[hotfunguy]

Option 1 is to buy studio in View Talay 6 Pattaya.

Option 2 is to buy 1 Bedroom, building to be completed end 2019 near The Avenue. Not off plan. Saw inside actual condo today.

Both in Foreign name.

Edited July 22, 2019 by hotfunguy

[farangliam]

1 minute ago, hotfunguy said:

Option 1 is to buy studio in View Talay 6 Pattaya.

Option 2 is to buy 1 Bedroom, building to be completed end 2019 near The Avenue. 

Both in Foreign name.

let us know how you get on. I'm keeping an eye on such threads as i may be in a position to buy in future. Though I'm leaning towards keeping my cash in the UK and renting in Thailand.  If i were to buy I'd look at existing buildings. If seen enough in Spain and UK to know that off plan has many risks associated. Also check out the neighbours (tenants or owners) see if they are a nightmare or sweet as a nut. You'll have to deal with them on a daily basis, will be hard to move if you buy.

[hotfunguy]

2 minutes ago, farangliam said:

let us know how you get on. I'm keeping an eye on such threads as i may be in a position to buy in future. Though I'm leaning towards keeping my cash in the UK and renting in Thailand.  If i were to buy I'd look at existing buildings. If seen enough in Spain and UK to know that off plan has many risks associated. Also check out the neighbours (tenants or owners) see if they are a nightmare or sweet as a nut. You'll have to deal with them on a daily basis, will be hard to move if you buy.

All good. Will keep you updated.

[Scuba+]

Option 1 is to buy studio in View Talay 6 Pattaya.
Option 2 is to buy 1 Bedroom, building to be completed end 2019 near The Avenue. Not off plan. Saw inside actual condo today.
Both in Foreign name.

Not the Grand Avenue?

[hotfunguy]

1 minute ago, Scuba+ said:

14 minutes ago, hotfunguy said:

Both in Foreign name.

Not the Grand Avenue?

Yes Grand Avenue.

[striderman]

Just now, hotfunguy said:

Yes Grand Avenue.

if i was choosing with those 2 options i would pick view talay 6.

if you look in the real estate section under the option general and then look for the topic golden tulip you will find a very very long thread about grand avenue.

NOTE........... you had best make a cup of tea first it dates from may 2016 and right now it's 64 pages to scroll

Edited July 22, 2019 by striderman

[likeaking]

4 hours ago, hotfunguy said:

Yes Grand Avenue.

Has anyone even moved into their condo yet or received their title?

[Scuba+]

Yes Grand Avenue.

I'd say Grand Avenue is still at the hot potato stage

[Yabusaki]

Greetings, 

What's the difference between leasing a condo from Thai vs Foreign owners?

[Ru4Real]

30 minutes ago, Yabusaki said:

What's the difference between leasing a condo from Thai vs Foreign owners?

Not a lot but we're talking about buying a condo here not leasing.

[article22]

Don't buy a condo until you have lived in it for a while...best advice I was given and I still stick with it.

I bought a 1 bed at Unixx after renting for over a year...still love it.

 

Also look at the Property Developer for that condo, if they have a bad rep then run a mile if it is your first condo.

[usexpat46]

50 minutes ago, article22 said:

Don't buy a condo until you have lived in it for a while...best advice I was given and I still stick with it.

 

I'll disagree, I bought my condo almost 10 years ago without living in any unit in the complex.  I did spend almost 4 years renting in Pattaya before I found a unit I liked in an area I liked.  The sales agent that worked for the developer showed me various units within the complex which had varying prices based on the floor and size of the unit.  When I decided which unit I wanted I was on the verge of asking for a reduced price (like I had done on previous buys in my home state of California) when she said if I purchase now the price will be discounted 25%.  I was only going to ask for a 10% discount so I was glad she spoke first.  I then hired a Thai law firm to handle the sale.  The unit was still a shell so I had to put up 25% and the other 75% upon completion which was scheduled to be complete in 3 months.  There was a penalty for each day over the 3 months which they missed and amounted to a little over 40K baht.  The delay also saved me baht at the land office as during the end of 2009 condos sales were very slow so Thailand eliminated the transfer tax to spur sales.

[talung66]

15 hours ago, hotfunguy said:

Option 1 is to buy studio in View Talay 6 Pattaya.

Option 2 is to buy 1 Bedroom, building to be completed end 2019 near The Avenue. Not off plan. Saw inside actual condo today.

Both in Foreign name.

as suggested read thread  i attached  look in to last  pages on new rental guarantee if you want to live in a condo run like a hotel 

10 hours ago, likeaking said:

Has anyone even moved into their condo yet or received their title?

yes 

 

[article22]

53 minutes ago, usexpat46 said:

I'll disagree, I bought my condo almost 10 years ago without living in any unit in the complex.  I did spend almost 4 years renting in Pattaya before I found a unit I liked in an area I liked.  The sales agent that worked for the developer showed me various units within the complex which had varying prices based on the floor and size of the unit.  When I decided which unit I wanted I was on the verge of asking for a reduced price (like I had done on previous buys in my home state of California) when she said if I purchase now the price will be discounted 25%.  I was only going to ask for a 10% discount so I was glad she spoke first.  I then hired a Thai law firm to handle the sale.  The unit was still a shell so I had to put up 25% and the other 75% upon completion which was scheduled to be complete in 3 months.  There was a penalty for each day over the 3 months which they missed and amounted to a little over 40K baht.  The delay also saved me baht at the land office as during the end of 2009 condos sales were very slow so Thailand eliminated the transfer tax to spur sales.

You were lucky then, I have heard a lot of horror stories about buying off plan and with dodgy developers.

I made 2 points, one which you ignored...what developer built your condo?

 

Have a read of Art on the Hill here for a classic example, I rented there for a while and it was built so badly. But it was cheap to rent...

[usexpat46]

5 hours ago, article22 said:

You were lucky then, I have heard a lot of horror stories about buying off plan and with dodgy developers.

I made 2 points, one which you ignored...what developer built your condo?

 

Have a read of Art on the Hill here for a classic example, I rented there for a while and it was built so badly. But it was cheap to rent...

I didn't buy off plan and would never even consider doing it.  People were living  in the complex.  Pool was being used along with saunas in the pool bathrooms.  Fitness center was equipped and being used. If I had to do over I might have asked for the price for shell only and completed the interior to my desired likings. Developer was a small Thai family owned builder out of Bangkok.  I don't see any benefit of living in a place for awhile and then buying as I would like to buy my own furniture, especially the bed and if you wanted to see what your neighbors are like, they could always move or sell in the future.

[hotfunguy]

Thank you guys for your input.

To Striderman special thanks as I have digested much of what you suggested re Golden Tuplit/Grand Avenue and have taken that on board. It did take a cup of tea and 3 beers.

[hotfunguy]

For those in the know is the property market in Thailand at its peak?

Is it good to buy condo in Pattaya now or wait for a year or two?

I appreciate the baht is strong at the moment.

[chris2004]

Only buy in your farang name

Only buy a built condo you can inspect.

Only buy on the baht bus route for ease of transport

Only buy in a condo which doesn't accept AirBnB guests

Only buy a condo which has an established farang run Committee

[hotfunguy]

2 hours ago, chris2004 said:

Only buy in a condo which doesn't accept AirBnB guests

Interesting. Why is this so?

[Ru4Real]

On 24/07/2019 at 01:38, hotfunguy said:

Interesting. Why is this so?

Comes down to why you are buying.

If just a place to hang your hat now and then while popping across to party; not so much of an issue (for you).

If buying to live, do you want your neighbour changing every week and treating it like a party hotel?

[chris2004]

9 hours ago, hotfunguy said:

Interesting. Why is this so?

Just visit The Base, you will see why.