It is easy to look at the numerous newly launched condos being built throughout Thailand, and indeed throughout most of Asia, and their shiny modern facades and assume they are merely a new housing trend which will fade away in a few years’ time. The reason you will find so many brand new condos on property sites such as DDProperty is because they are not only the most popular option for buyers and investors but because they are designed and built for future as well as present needs.
Property developers know that these are a lifelong investment that many people have spent years saving up for so they are built with the intention to be lifelong homes, not just a flash in the pan trend. Here are just a few other advantages of new condos to consider:
A ‘trendy’ new product can be removed from shelves when it is no longer popular. A building takes a lot of money and effort to demolish and rebuild if it is no longer needed. This is the reason why newly launched ones each have years of planning behind them and a large amount of money invested to choose the exact right locations, building materials, features, and communal facilities. Developers are indenting for residents to be just as happy with their homes in a few decades as they are when they first move in. This is why buyers save up for years and wait even longer for their condo to finish construction.
- Improved Lifestyle
The idea of a large house with a garden in the suburbs away from the weekly stresses of the office was an idealized image at one time, and to many it still is, but it is one that is becoming outdated as society changes. Most people agree that the time and money spent commuting just isn’t worth it any longer, especially with higher fuel prices and increased traffic.
Buying a place close to the central business district or within close proximity to public transport eliminates the need to spend hours every week commuting and allows for a better work/life balance. Living within walking distance of your workplace means that you can easily make it back home for a bite to eat or can even work from home while still meeting with clients and colleagues easily. Being closer to entertainment facilities, cultural sites, and restaurants also gives residents more to do on the weekends other than mowing the lawn. Investopedia says that buying a place in your most desired location, whether it’s for work or for recreation, is one of the top reasons why they are so popular.
- A Solid Investment
Even if you are buying a place for personal use with the intention to live there long term, you can still be assured that if and when you do decide to sell your property and move on, it will be easy to sell and you will get a good price for it. It will also become a valuable asset for your descendants. This is the reason why condos are frequently viewed as a good long term investment that are worth the high price tag by professional investors, who sometimes buy up dozens of new properties at a time to resell. Propertylogy lists some of the benefits of investing in newly launched condos as gaining a property in mint condition, having a wide choice of units available, and the ability to add any additional fittings or features that you want. Even the option of renting out your place provides peace of mind for the future.
- Attractive Designs
There is always a worry that the ‘futuristic’ designs used by new builds will quickly become outdated or won’t be able to stand the natural weathering away of time. There is even a worry that they won’t be sturdy enough to withstand natural disasters. You can probably already see buildings which in just a few decades have become dilapidated eyesores. In some neighbourhoods, an economic downturn has caused some buildings built for gentrification to fall into disrepair.
New units do use modern design styles but in a way which is intended to become timeless and be just as attractive in a few decades as they are now. New scientific research also means that new buildings are able to both stand weathering and natural disasters. There is no need to worry about investing a large amount of money in a building which will become unattractive and an embarrassment to live in as the years go by, or one that will be unsafe should the worst happen.
If you are house hunting and have scratched these units off of your list of potential options then you may be losing out on a great housing opportunity. Condos are here to stay and with many new projects offering high quality properties, now is the ideal time to invest in your perfect new residence.