Is buying a condo (second hand) always a bad idea?

honestly at that price point you're not really "investing" you're just buying a place to live. 1-1.5 million in bang wa is basically the price of a used car back in canada, so the downside is pretty limited. but what people dont mention is the hidden costs that eat into any potential value. that building prob has old plumbing and electrical, and when the elevator or water pump needs replacing, you're looking at special assessments that can run 50k-100k baht per unit overnight

the bigger issue nobody talks about is the leasehold vs freehold trap. a lot of those cheap condos in bang wa are on leased land that's expiring in 20-30 years. check the chanote carefully, if it's not freehold land your unit value drops to basically zero when the lease runs out. also check how many units are owned by a single company, some buildings have one entity holding 30% of units and they can basically dictate management decisions

for 1.5 million you could also look at a small townhouse in that area with actual land, which holds value way better. but if you're set on the condo, just make sure the sinking fund is healthy and the building has at least 70% occupancy. empty buildings turn into slums fast and then you're stuck with something you cant sell at any price

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i live in that area too and honestly for 1.5 million you're not gonna lose sleep over depreciation, but check how many units are for sale in your building right now. if there's more than 5-6 units listed at once that's a red flag, means people are trying to exit and can't

one thing nobody mentioned is the construction quality of older buildings around bang wa. some of those condos from the early 2000s have thin walls and you'll hear your neighbors flushing toilets at 3am. go hang out in the hallway for 15 minutes at different times of day just to see how much noise carries

also check if the building has a proper management committee with actual meetings and financial reports. a lot of these cheaper buildings have zero governance and the common fees haven't been raised in 10 years, which means they're deferring maintenance and you'll get hit with a big bill later. the juristic office should be able to show you the last AGM minutes

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buying a condo in bangkok at that price isn't necessarily a bad idea, but it's more of a lifestyle choice than an investment. at 1-1.5 million baht in bang wa, you're probably not going to see massive depreciation, but you're also not going to see much appreciation either. the real risk is resale liquidity, condos in that price range can sit on the market for months or years even in a good location, and bang wa isn't exactly a hot resale area for foreigners

plus you've got the foreign quota issue. unless you buy in your wife's name or have a proper company, you're limited to the 49% foreign quota per building. some buildings are already full or close to it, so check that first with the juristic office. and remember that common fees in older buildings can creep up, especially if the sinking fund hasn't been maintained well

honestly if it's a place you plan to live in for the next 10+ years and you're happy there, the price is fine. just don't count on flipping it or renting it out easily. the bangkok condo market is flooded with supply, especially in the suburbs. you're not missing anything major, just managing expectations

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Krua Dok Mai Kao is solid but I've always found their som tam a bit tame on the pla ra. If you want the real funky version, try the shophouse spots along Soi Udomsuk 26, near the night market end. They pound it fresh with fermented fish that'll clear your sinuses, and it's like 60 baht. Different style from the On Nut places, more Lao-leaning.

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for som tam specifically i'd say the Isaan spots in Chatuchak are underrated, weekdays only though since the weekend crowd ruins the vibe. there's a stall near gate 2 that does tam pa with fermented bamboo shoots, super sour and funky, not something you see much in On Nut. if you're already heading north for Or Tor Kor anyway its worth the detour.

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honestly the som tam at Krua Dok Mai Kao is good but what got me hooked is their nam prik pla raa dip with the raw veggies, that funk hits way harder than the papaya does. think most people sleep on it cuz they just order the som tam and gai yang. also pro tip, go before noon on weekdays, after that teh pla ra gets milder cuz they batch it for the lunch rush

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