How important are facilities?

Bangkok is awash with different condominiums to buy. From off-plan projects to well-established buildings that are ready for you to move your belongings into, the choice can often be confusing. Developers build homes for all budgets and desires, meaning that that really is something for everyone. But if you are feeling that the experience resembles looking for a needle in a haystack, then why not consider what facilities there are to help your decision-making process.

The range of facilities is heavily influenced by the budget and the type of resident the condominium is aiming for. But even the lower ends will have a swimming pool and gym. So what value do facilities bring?

Communal areas are maintained by the building through the common area fee. This is one point to consider as this annual cost will increase with the range of facilities. Therefore, if you are conscious that you want to keep your costs at the lower end that choosing a condominium that has a sky lounge, multiple swimming pools or even a golf simulator is probably not for you.

Many tenants choose to live in a condominium for the ease that they provide. Creating an environment to live, work and play, the leisure aspect can easily be ticked off at home. As a bare minimum most tenants will expect a swimming pool and a fitness centre and the higher the quality of these the more the rent that can be achieved. Tenants will see these as a plus as they can work out at home and put the money that they would spend on monthly gym membership into their rent instead.

For completed projects carefully look at the quality and the maintenance of the communal areas. This will provide a clear indication of the management of the building. Communal areas that are not clean or left in disrepair are a tell-tell sign of bad management and potential conflict in the building. Investigate these further and don’t be afraid to discount a condominium on this fact alone as it will affect the value of the units as well as its appeal to tenants and future purchasers.

Buy-to-let landlords wanting families as tenants should look at facilities for children. Having somewhere for their little ones to play is of utmost concern and will create a community feeling too. Many families will decide on what building they want to live in on this alone. For landlord’s seeking young professionals or millennials, then having space to work is important. This could be in the form of a co-working space or even just a library. And if the property is for yourself, then consider what you value the most now to make sure you make the most of the building for as long as possible.