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For comfort, let's say that the older condominium is offering for 55,000 baht per square meter and the new 1 is marketing for a hundred,000 baht per sq. m. Is the distinction in price tag really justified?

We can effortlessly rule out the land value, as the two condominiums are correct next to every single other. So what is the variation?

Design methods? Uncertain. In simple fact, a lot of older condominium models are arguably far more solid than the more recent counterparts. A lot of builders creating decrease-grade new condominiums are utilizing materials, these kinds of as plastic imitation parquet flooring, which are unlikely to last far more than a year or two. Also, reduce-quality resources can enable appears from neighboring units to move by means of.

Facilities? Not in the scenario above. The more mature condominium has a full range of facilities previously.

Calibre of the co-house owners? In this case the new condominium has a number of more compact units, geared to maybe a a lot more center- course market than the older developing which includes huge units only.

The visual appeal of the developing? This need to be it. The new condominium will have a good, shiny new lobby, a cleanse and freshly painted exterior, freshly laid flooring in the frequent locations, and new furniture. The previous condominium is waiting for a repaint, and a new lobby would be nice way too.

Then why don't the homeowners of the older condominium make these advancements? Probably because when it comes to buying a condominium, folks are ready with their chequebooks, but for ongoing routine maintenance, this is not the situation. Or perhaps the condominium committee members aren't as great at selling-in this situation the thought of a essential cosmetic upgrade to insert worth - as people doing work for the developer.

Does this imply that in 5 or 10 years' time the new condominium will seem like the old condominium? Is getting a condominium like purchasing a vehicle the price depreciates above time?

Nicely, if you gave the more mature condominium talked about earlier mentioned a repaint, gave it a new foyer with new household furniture and resurfaced the podium level, and renovated the small quantity of widespread place in front of the units, and then the difference among the two would not be that wonderful. I don't see several prospective customers drilling into the concrete composition to verify the integrity of the concrete.

Bear in brain that if you acquire a device in an more mature condominium, there's a good opportunity that inside of there could be a lot of old wood equipped home furniture that's ten years out of fashion. You may possibly want to rip the entire great deal out and start off from scratch. If you carried out a comprehensive renovation of the unit-new flooring, new household furniture, new electrical and sanitary fitting, then you would most likely be seeking at investing in the region of ten,000 baht per square metre.

So possibly it all depends on how significantly you are prepared to invest on a shiny foyer. I myself usually devote about 1 moment for every day strolling through the foyer. Most of my time I commit inside the unit. How about you?

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