Failure of Condominium Investing
Condominiums and Apartments in Thailand are more rapidly increasing. Therefore, whenever you wish to buy a property, there are somedays the price of property would be decreased especially buy a condominium. Although decreasing of the condominium price does not depend on the location, but it depends on the needs of the buyers. The main reason is because condominiums can not be renovated outside the building by the own tenants, or even if the condominium is owned by various owners so that might be an issue to renovate and maintenance the condo, because they need to spend a lot of money on it. Residents and neighborhoods are also important as if they are not be desirable people, so the condominium might be cheaper or in a lower grade. In the article, we will learn what kind of condominium that will be easily dilapidated and not being wanted in the days ahead.
There are 4 easy rules to choose
1. Company brand should be identified
Most of the ruined condominiums are in low grade and they are condominiums without caretakers. These condos may not require much maintenances, especially after a sale person is successfully selling a house then there will be no caretakers at all. And that is opposite situation from the condominiums which have a name or well-known in general. These condominiums will be supervised and monitored regularly including after sale would be more services, because if they let the building decay, the brand image will immediately be damaged. That is why most of condos would have a corporate person for regularly monitoring especially Lumpini Condominium, which is totally having a well maintenance by establishing their own corporate people to work in their company.
2. Consider at strategy of corporate person
In case that we buy second-hand condominium, so we should look at some strategy of corporate person on how he/she does manages and promote the condominium project. If corporate person does not do a job well, so the result will appear that the project is losing money and we can consider that this project is going down in terms to increase financials
This point needs to consider carefully, because buildings with the aged between 0-5 will look new and not being ragged. But by the 5th year passed, they start to change with some painting scratched and broken pieces. They will rapidly get deteriorated in the late sixth year.
3. Better aim for high building
Tall buildings with low buildings There is a difference in the chances of a dilapidated building. High-rise buildings are less likely to deteriorate and can be easier to maintain compared to low-rise buildings. High-rise buildings have more room and have a greater margin. If the buyer does not pay or not pay at all. The opportunity to have more money is still much. Because the room is over. Compared to low buildings. If someone does not pay or not pay. It will lose the liquidity immediately because the lower buildings will have less room. Income will be less with it.
The main reason is to become a corporate person because high buildings need to be bided in terms to complete with the other high buildings. Most of high buildings condominium would have a strong and professional corporate person. However the lower buildings would possibly have unprofessional corporate person because of the low grade of condominium. So that might be a reason why the execution of an organization is not good enough to improve management and that would cause of buildings deterioration.
4. Choose to buy a better grade of condominium
Most of ruined condominiums become inexpensive (Such Price of Hundred Thousand), because of the lack of well-maintained, such as exterior decoration or building maintenance services. It may not be completed or may have a lot of damages, because it requires lots of money to improve them. Good grade condos will have more opportunity of being less ruined. Another reason that the price of luxury condos are not fallen because of many rich people are supporting and staying in the luxury condos. Besides, rich people become the quality of well-being environments and neighborhoods, and yet they can be attractive for the new customers who are looking for new house. In addition, the the price of condo projects will not be fallen and they can also be improved for further level.