There are more than dime a dozen condo listings available on Thai property sites, with a few options being affordable and many choices being more luxurious. While your budget to purchase a condo in Thailand is an important deciding factor when you go ahead and purchase a condo unit, there are other important considerations that you will have to remember as well.
One of these important considerations is if the condo is furnished or unfurnished. Continue reading to know the definition of unfurnished condos, furnished condos and ready-to-move into condotels as per Thailand laws and property rules.
Unfurnished Condos – Frugal Living That Allows You To Add A Personal Touch
By definition unfurnished condos have the bare minimum utilities pre-installed into the condos. Typically, unfurnished condos come equipped with painted walls that have a standard finish, geysers/water heaters and basic plumbing fixtures. They might also come with basic light bulbs that you can upgrade if you wish to.
Unfurnished condos can also be referred to as warm shell properties that have the basic amenities but no furnishings. They are not the same as bare shell properties as these have no fixtures, they typically only have the needed provision for you to add your own fixtures. You can read more about warm shell and bare shell properties here.
It should be noted that the quality of fixtures in unfurnished condos depends on the developer you have chosen. Not all developers fit low grade or standard grade fixtures; many luxurious condo developers may use top of the line fittings based on the final price of the condo unit. A few top-of-the-line developers might also offer semi-furnished condos with chimney installations, a fridge and light fixtures including bulbs and an inverter for times of power cuts.
Unfurnished condos make a great investment choice for first-time property owners that are on a budget and buyers who want to personalize the place exactly as they wish. This smart investment opportunity is also perfect for serious real estate investors who plan to lock up the property by keeping it vacant until they sell it a few years later.
If you are looking for the best bang for your buck and want to find an affordable unfurnished condo then read up all you can about projects in the area through listings on sites such as Silk Estate.
Furnished Condos – A Luxurious Option With Many Frills and Perks
If the sky is the limit, then furnished condos are a perfect option for you. Especially if you are looking for mid to high range apartments from established developers in Thailand. Furnished condos come with all the amenities needed for you to move in. These condo units will have your name on the title deed as well and will be yours to use for residential purposes only.
Amenities that mid-range furnished condos come equipped with include light fixtures, water fixtures, geysers/water heaters, fans, air conditioning units, kitchen utilities, chimneys, kitchen equipment, furniture to lounge in, furniture to sleep in, and curtains.
Top of the line developers might also include Delux mattresses, pillows and the works to make the condo absolutely ready to move into with just a bag and with your nameplate on the door of the condo unit.
Choosing a furnished condo is ideal for investors looking to rent out the apartment once or twice a year. Furnished condos are also ideal for solo buyers, couples and families who wish to live in the condo without the hassle of finding suppliers of items to furnish it themselves. Furnished condos cost as much as 30-50% more than unfurnished condos but are ideal for people who want a comfortable life in Thailand with all amenities right when they walk into their newly purchased Thai condo unit.
Ready To Move Into Condotels
Condotels provide the best of both worlds to buyers who are not looking for long term stays in Thailand but want a place that is theirs when they visit. Condotels in a nutshell are condo units that are fully furnished with top-of-the-line fixtures, amenities and the best of all that fine living can offer to you. These units are part of a larger structure more often than not, a chain of hotels that are selling the unit to you for staying in it for a few weeks every year. Foreign buyers can legally own condotel units provided the unit is rented back to the hotel and they earn from this through a shared interest pool.
In addition to buying a condotel unit, the buyer will be solely responsible for the maintenance fees of the shared spaces and common areas. This can range from as less as a few hundred dollars to as much as a few thousand dollars per year.
The main benefit of owning condotel units is that while the unit is in your name, while it is lying vacant the property is utilized and maintained impeccably by the hotel that it is a part of. Yet when it’s time for you to reach Thailand, informing the hotel will ensure that the condotel unit is cleaned and kept ready for you. More importantly, you will be assured of the best of luxuries that the hotel offers including laundry, wake up calls, baggage services, use of recreational areas and fine dining within the premises. Condotels are not a frugal living option and will cost more than purchasing an unfurnished or semi-furnished condo unit.
The Common Ground and Important Rule for Buying Condos and Condotels In Thailand
Choosing between furnished condos, unfurnished condo units or lavish condotels is only possible provided a basic Thai property law rule is followed. This rule requires that all condo complexes and condotel structures have shared property ownership. This implies that a condo or a condotel can only be legally owned by a foreign national if the maximum ownership of the entire complex for foreign nationals is less than 49% share. This also explicitly implies that a condo or condotel can only be sold to foreign nationals if the minimum share of the entire complex is owned by Thai citizens by or more than 51% as a whole. Ensuring that you follow the rules and getting access to a condo with a clear title deed can take you one step closer to owning your dream condo unit to reside in within the tropical paradise which is Thailand.
Leasing Furnished Villas and Town Houses
While foreigners are not legally allowed to own land in the Kingdom of Thailand, the government of Thailand has allowed foreigners under real estate laws to lease land and build a house on top of it. Foreigners can also lease land and live in pre-constructed townhouses and villas. The minimum term for leasing is usually 3 years while the maximum term is 30 years. Renewing the lease of the land is subject to review by the current laws at the time of renewing the lease agreement.
Leasing Unfurnished Office Spaces
Unfurnished office spaces that are over 2000 square meters can fall under bare shell properties that have little to no fixtures, but the option to add fixtures with the basic framework done before handing over the possession of the office space. Such commercial spaces may also have the needed framework to add fire extinguishers, hoses and other such fixtures after you take possession of the property.
Often lacking wall paint and furnishing, leasing unfurnished office spaces that fall under bare shell properties is an affordable and frugal option for people working for themselves in Thailand. This is also a good option for self-employed individuals who want to personalize and furnish the office space as per their exact liking for 3 to 30 years.
Finding the Perfect Condo For You With A Single Click
Why waste time sifting through hundreds of listings for unfurnished and furnished condos, when you can delegate this task to a professional real estate company? Silk Estate is a leading real estate platform that connects condo sellers in Thailand with foreign condo buyers.
With a multitude of options such as affordable properties that are listed on the site and prime condos that are unlisted yet accessible, Silk Estate has all the real estate solutions you will ever need.
Contact Silk Estate today with just contact us and enjoy the perks of moving into a condo unit you will come to know and call home.
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