Many people have it in common the big dream of owning a home. This includes not only buying a house or building a house, but especially in metropolitan areas and large cities also buying a house. In the following you will find out which essential factors you should consider when buying a luxury condo Bangkok.
The visit: apartment and surroundings
Did you find an apartment that interests you? The first step is to make a careful inspection of the apartment. For example, an apartment in the description in the synopsis or on the real estate portal may sound like a dream, but in reality it may not meet your expectations at all. Conscientiousness is also advisable for existing apartments due to the “buy as seen” phrase that normally applies, which makes overlooked defects your sole problem after signing the contract a seller can only be held responsible for the hidden defect.
Take the current market situation in your buying region into account when viewing the property. If there are many apartments for sale in your region, you can be choosier. If the real estate supply is scarce, features such as flooring or bathrooms become a minor matter. However, always pay attention to the old and most important “real estate wisdom “: You can change everything on a property, except the location.
All ours: the community of owners
If you are interested in buying a flat, you should be aware that when you buy a condominium you also become a member of a so-called owners’ association. This is probably the biggest difference to buying a house.
Apart from the actual apartment, your sole private property; you own that is inextricably a part of the property and thus the house. The community of owners regulates all owners’ interests at regular owner meetings, which go beyond their own property i.e. their own four walls. These include measures regarding the facade, the outer walls, the staircase, all load-bearing walls, the roof or foundations. For example, if you want to install awnings on your balcony or windows, this also applies to the facade and therefore requires the approval of the community of owners. Which rights and obligations you have as a home owner is generally discussed in the Apartment Ownership Act.
More detailed framework conditions can also be laid down in the community order. This is an integral part of the purchase contract for the apartment and in some cases is even included in the land register. In it, the coexistence of the owners is explicitly regulated. The declaration of division is also part of the purchase contract when buying a home. They detail contains the exact division of what and what for the sole private ownership of communal property matters.
