Investment Insights

5 Tips For Finding an Affordable Condo or Home

BY Bridge Estate

Bangkok is a vast metropolis of more than 10 million people with something for everyone – if you are willing to look for it. And while it is true that The Big Mango is filled with properties of all sizes, shapes and prices, navigating this sometimes-overwhelming amount of choice can be intimidating. 

To help relieve some of the stress, we put together this list of house-hunting tips to make sure you find the perfect condo or home while staying within your budget.

 

Tip #1 – Know Your Budget

The US Census Bureau recommends spending between 20-30% of your monthly income on housing. 

With this in mind, take time to map out your personal budget before you begin looking at properties. This will help narrow down your search and ensure you are looking at places that are within your price range. 

Remember to factor in additional expenses like the cost of utilities, internet, your phone bill and any other regularly occurring items.

 

Tip #2 – Make a List of Deal Breakers

To start, make a list of everything you would want in your dream property. Then break down your list into things you can live without and the things you must have. These are your deal breakers and are key factors in determining which properties you visit, while also helping you to see which amenities are non-essential.

Some questions to consider:

  1. How far are you willing to travel to work?
  2. Is the unit smoking or non-smoking?
  3. Are pets allowed?
  4. How far is it to the nearest BTS Skytrain or MRT station?
  5. Are shopping centers, supermarkets, cafes, etc., nearby?
  6. Do you need a swimming pool, washing machine, elevator, security guard, doorman?

 

Tip #3 – Research Property Developers

When looking for a new condo or house, it is important to research the developers and builders of the project you are interested in. Different developers have different reputations and specialties. 

Be sure to look at local real estate websites to see what others are saying and get in touch with developers or realtors to gather in-depth insight in order to make an informed decision.

Here are a few key points to think about:

  1. Does the developer have a positive reputation?
  2. Is the developer experienced in the market?
  3. Does the developer offer good value for money? 
  4. Do the properties offer a wide range of amenities and facilities?
  5. What are people saying about other projects from this developer?

 

Tip #4 – Look at Up and Coming Areas

Finding an affordable condo or house in the city center can be difficult as these areas usually come with a higher price tag. 

However, with new infrastructure projects underway and a growing number of public transportation options – BTS Skytrain, MRT, bus routes – already available, looking for properties in up-and-coming areas like Phra Kanong, On Nut, Lad Prao, and suburbs like Bang Na can give you more value for your money.

Take time to explore these neighborhoods on your own to get a feel for the community and offerings they provide.

 

Tip #5 – Talk to Locals

Whether you are new to Bangkok or are simply looking to move to a new area of the city, speaking to local residents can give you key insight that may not be available online. 

Ask coworkers, friends or other local connections for their opinions on important factors like safety, convenience, proximity to shopping and schools, etc.

Local real estate agents are also an excellent resource for property trends, up-and-coming neighborhoods and new developments. 

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