Despite the recent global financial crises, the prices of condominiums in and around the eastern seaboard of Thailand continue to rise. So what does this mean to the buyer who ponders should I buy a new condo or second hand condo?
In regards to buying a new condo, the first and most obvious reason to purchase a new and more expensive condominium is that the purchaser gets a brand new, never lived in unit. In addition, buying a new condo before it has even been built allows the buyer to choose a better location in the building. Buying new provides the buyer with a far greater number of choices than a previously owned condo, as a potential purchaser can choose what floor to be on, which view they want, and which floor plan works best for them.
In a new condominium the buyer might also be able to choose the type of flooring they want, the finishes of the kitchen cabinets and the bathroom countertops. Also they may have some options in reference to choosing color schemes, kitchen appliances, bathroom fixtures, and they may be able to have the unit custom wired for TV's, computers, phones, etc.
A new condo often makes for a better investment, especially if you are not sure how long you will keep it. Buying a new condominium not only provides the benefit of choice, it provides a tremendous financial benefit as well, because statistics show that the prices for new condominiums have gone up for over 15 years, at an average rate of seven per cent per year.
Of course there are many reasons to purchase an older condominium as well. Here are just a couple. Existing condos are generally much less expensive per square foot than a newer one. It is also much easier to negotiate with the seller of a used condo to obtain a better price than it is to get a discount from the developer of a new condominium complex.