Buying condo ( City Center Residence or Arcadia Beach Resort ) advice please

[cozmo]

A few years (before the influx of Chinese tourists) a Thai friend showed me some websites where the banks list their mortgagee sales. There were some great deals compared to what I'd seen on Farang targeted websites. It's all in Thai, but may still be worth scoping out. Or someone on this forum may have info for you. 

[wolfgang68]

On 01/09/2022 at 04:23, Sloracer said:

Where did you pull thus data and is it reliable.

This kind of data is shown on platforms like thailand-property.com, no idea if its reliable.

[wolfgang68]

20 hours ago, cozmo said:

A few years (before the influx of Chinese tourists) a Thai friend showed me some websites where the banks list their mortgagee sales. There were some great deals compared to what I'd seen on Farang targeted websites. It's all in Thai, but may still be worth scoping out. Or someone on this forum may have info for you. 

great tip, thank you very much

[wolfgang68]

On 30/08/2022 at 20:44, tptp76 said:

Just out of curiosity, what tilts you towards buying rather than renting in Pattaya? With cheap rents would you not get more for your money if renting? 

 

after 37 years of coming to Pattaya and renting all kind of different condos and hotel rooms, i think its time to spend some very affordable amount of money for a place that i can call my own.

i spend 6 months per year in Pattaya and Philippines ( i made good experiences with buying condos in Angeles City ) and even if i not make any investment on this place, i am sure my kids will be happy when they are able to use it as well.

1mio baht is an amount where i feel comfortable to spend, knowing that the value of the condo will not increase, but i am almost sure it will not be totally lost eighter.

 

There are just so many interesting and affordable places around now, this makes it very difficult to make an decision, therefore i limited my search to these 2 condominiums plus waterpark condos in Pratumnak.

 

Gentlemen, thank you very much for all your inputs and advices, i am looking forward to come to Pattaya in November, stay in these selected places for a while and then make the decision, just good for me that i have 6 months time and no pressure at all.

 

 

 

 

 

 

[usexpat46]

1 hour ago, wolfgang68 said:

This kind of data is shown on platforms like thailand-property.com, no idea if its reliable.

Regarding the price per sq meter.  When I was looking to buy a condo back around 2008 the price per sq meter increased as the floor level increased.  A 60 sq meter unit on the 2nd floor was much cheaper than a 60 sq meter on the 25th floor.  Also if its a new build try to get the unit at the end of the hallway so that you only have 1 common wall neighbor.

[wolfgang68]

9 minutes ago, usexpat46 said:

Regarding the price per sq meter.  When I was looking to buy a condo back around 2008 the price per sq meter increased as the floor level increased.  A 60 sq meter unit on the 2nd floor was much cheaper than a 60 sq meter on the 25th floor.  Also if its a new build try to get the unit at the end of the hallway so that you only have 1 common wall neighbor.

tks, great advice

[OKAY]

On 31/08/2022 at 02:56, Kale said:

🤔

I don't see how living in a shoebox is going to improve with age but maybe that's just me.

An awful lot of older folks choose to downsize into small efficiency apartments, mostly old folks holmes.

[Kale]

6 hours ago, OKAY said:

An awful lot of older folks choose to downsize into small efficiency apartments, mostly old folks holmes.

I consider 40m2 small and efficient.  32m2 is the bare minimum for longer terms.   25m2 is a shoebox.  A few days is no problem but try living in one for a month or two and you will understand what I am talking about.

Edited September 3, 2022 by Kale

[Bazle]

20 hours ago, usexpat46 said:

Also if its a new build try to get the unit at the end of the hallway so that you only have 1 common wall neighbor.

Fine, unless you are next to an elevator! 

[madmike]

Things I suggest you consider.

• Get it in Farang name.  BTW make darn certain you are actually buying from someone who actually owns the condo.  I'd have a lawyer of my own and take him with me to transfer title on payment. 
• Look into the condo owners association.  Make sure they are solvent and your condo doesn't have large arrears in payments.  Make sure they have funds for future repairs and a stable budget and accounts.
• Find an owner of a condo in the building and buy him a drink and pump him for how he likes it. 
• As mentioned above 25 sqm is not a condo.  it's a hotel room.  Seriously pay more and get some room.  You will end up hating your place if it's too small.
• Location is important.  I honestly don't know where either of these places are but if you have to use a bike to go out at night unless you don't like to drink it will cost you eventually in getting in an accident or scammed by the coppers. 

I would not buy a condo there outside 3rd Road.  Or south of Pattaya South. Or north of Pattaya North.  Inside that beltway area is the place to be IMO.  Personally if I were going to buy a condo again and live in Pattaya I'd be looking on Pratumnak Hill.  You are more likely to have empty condos around you as most are weekend getaways for rich Bangkok thais or short time foreigners.  But yes a bit more than 1 million baht.

Lastly be aware that living in a low end condo building will increase the odds of being robbed or having your motorbike stolen.  I understand if finances won't allow you to live in a luxury penthouse but long term lifestyle matters.  Lay down with dogs get up with fleas is apt.

Honestly I suspect within a year of buying your 25 sq condo in a low end building you will regret your decision and wish to sell.  I don't know how hard it is to sell those units.  Might be stuck for a long time.

Clearly I lean towards buying a bigger and better location condo.  If you can afford it.  if not it's all good.  It's still in Pattaya which is awesome. 

 

 

 

[geezerrb]

Even with "disposable" money/income I certainly would not buy a condo in LOS and certainly Pattaya at present for many reasons especially when there is so many bargains that show it will be "maybe" 20 years before a real return.

[Kale]

On 30/08/2022 at 11:48, MikeT said:

To me the better value is CCR, I spent 5 days looking at probably every condo in pattaya trying to get rid of my ex recently. I did see CCR popping up a lot but those rooms are kind of small 24sqm vs arcadia 25/26sqm... To me the Arcadia rooms seem quite bland (i seen probably 3-4 of them during curfew times last year).. if it was me I would probably pick CCR just as its closer to city center... With Soi Buakhao popularity only increasing year by year I think the value around this area will increase.

Why do you think that place pops up so much?  Rhetorical.

Edited September 3, 2022 by Kale

[wolfgang68]

On 03/09/2022 at 23:49, madmike said:

Things I suggest you consider.

• Get it in Farang name.  BTW make darn certain you are actually buying from someone who actually owns the condo.  I'd have a lawyer of my own and take him with me to transfer title on payment. 
• Look into the condo owners association.  Make sure they are solvent and your condo doesn't have large arrears in payments.  Make sure they have funds for future repairs and a stable budget and accounts.
• Find an owner of a condo in the building and buy him a drink and pump him for how he likes it. 
• As mentioned above 25 sqm is not a condo.  it's a hotel room.  Seriously pay more and get some room.  You will end up hating your place if it's too small.
• Location is important.  I honestly don't know where either of these places are but if you have to use a bike to go out at night unless you don't like to drink it will cost you eventually in getting in an accident or scammed by the coppers. 

I would not buy a condo there outside 3rd Road.  Or south of Pattaya South. Or north of Pattaya North.  Inside that beltway area is the place to be IMO.  Personally if I were going to buy a condo again and live in Pattaya I'd be looking on Pratumnak Hill.  You are more likely to have empty condos around you as most are weekend getaways for rich Bangkok thais or short time foreigners.  But yes a bit more than 1 million baht.

Lastly be aware that living in a low end condo building will increase the odds of being robbed or having your motorbike stolen.  I understand if finances won't allow you to live in a luxury penthouse but long term lifestyle matters.  Lay down with dogs get up with fleas is apt.

Honestly I suspect within a year of buying your 25 sq condo in a low end building you will regret your decision and wish to sell.  I don't know how hard it is to sell those units.  Might be stuck for a long time.

Clearly I lean towards buying a bigger and better location condo.  If you can afford it.  if not it's all good.  It's still in Pattaya which is awesome. 

 

 

 

thank you very much, madmike, for all your great advices, which are very helpful not only for myself but for many others as well planning to buy in Pattaya. I will certainly consider all your points, i do not have a time pressure to buy as i am staying 6 months per year in Pattaya, but i want to be prepared if a perfect deals comes along. thank you again.

[Xfreak0000]

Have you bought a condo? if yes, which one you bought and why did you buy that one pls?