Would You Buy A Condo?
As in all situations when money is involved, the more money you are able to pay the larger the condo will be, so the size of a condo really depends on the price you can afford. When you have only a small amount of money to invest, you can expect a studio sized condo which has living space and sleeping area in one single room and a separate bathroom. These studios are pretty much like a hotel room but are equipped with a pantry, which enables the resident to cook and prepare meals. Studios are often purchased as weekend Getaways or by Singles that want to stay single but also by men and women that sleep or live in the studio during the weekdays because they work in another city and they drive home on the weekends to unite with their family.
If you can afford to pay quite a high sum of money then a large penthouse with private swimming pool, Jacuzzi, sauna or a rooftop garden are within reach.
There are many options to choose from and it all depends on the budget you can afford to spend. Now you may ask yourself what a condo will cost. This really depends on the location and size and you should also consider if you look for a condo to live in yourself permanently or if you are looking for an investment opportunity to secure your funds. Condos purchased for investment purpose should be located in prime locations, must be well built and designed and can generate an additional income when you rent them out but also generate an additional yearly value grow.
Prices vary from country to country and then again from city to city. Some condos are offered for a very cheap price, which is around $19,000.- USD, you can find those by searching for condos on the Internet. The return on investment depends in which country the apartment is located. For example when you invest in an apartment located in Manila it will give you a higher return compared with an apartment in Hanoi. So make sure to do a good research before buying any property abroad.
Investing in property is only beneficial in certain regions of our planet as the crash of the housing market in Europe and U.S. proved. The emerging market countries have in this regard a lot to offer where prices are low and standards are high. When you buy condos in Thailand the units are much cheaper compared to United States or other western countries but are often fully furnished, have advanced security and fire prevention systems and a community swimming pool, fitness center and a lush landscaped garden. Prices are rising on a yearly basis and holiday makers make good tenants that flock to these areas in the number of millions, so the rental income is also guaranteed. Therefore you will have to think twice when you consider a condominium as an investment object and you should calculate your financial risks and returns.
No investment property comes without risks. Offered below the market value because the construction has not yet started or plans do not have yet all the required permissions to be constructed as shown on plans and drawings, it is very important to buy only from trustworthy and reliable property developers that can present a track record of completed condominiums that are successfully generating ROI. Buying Off-plan condos generates higher returns on the investment but to make sure that your money is secure and safe is crucial.
You can buy in any location, locally or overseas, just make sure you did your home work. The more research you do the more you will know how to invest and let your money do the work for you in the property market.
Some people have made millions and some have lost millions, so make sure you buy for the right price at the right location and at the right time.
Billy Horner, is a professional writer for the real estate industry. Permission to reprint this article is granted if the article is reproduced in its entirety, without modification, including all information. Please include a hyperlink to: Pattaya condos and condo Pattaya.
Article Source: EzineArticles.com
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