The real estate market is unpredictable these days. But the market for condominiums has never been down since the inception of the concept. Shared ownership of the common areas along with sole proprietorship of the residential unit has been quite a catch for maximum potential buyers. However, the real estate agents are always suggesting to check the market trends in the present time to make any decision regarding the purchase of the property. You must be wondering why. The following post aims to clarify the need to check on market trends for buying the Condo Charoen Nakhon [คอน โด เจริญนคร, which is the term in Thai].
Legal status
There are frequent legal complications arising in condominium projects. No construction permission is a common matter that drives litigations. As the cases about condos are on the rise, you should always look for the legal status of the condo before regarding it as an option. A condo with legal problems can be a long-term pain for the buyer. It is not only about the litigation but also about the lacking that triggers the litigation. If you monitor the market trends, you will find maximum buyers checking the legal status of the condos instead of location first.
Reputation of builders
Which builder is presently earning the best reputation for the construction of condos? What is the track record of the builder? Is the builder delivering projects on time? Thorough research on each of these aspects is mandatory when you are planning to buy a condo. Most of the condo purchasing transactions is a step towards adding an asset in the future. But if the builder fails to deliver the project in a span of 4 to 5 years, it will be a completely wrong investment. Reputation definitely is another factor that you have to monitor to finalize the purchase decision of a condominium,
