In terms of condos, then there is much to consider. Studios in condos buildings in prime locations can still be found for 2 million
baht and these would normally be in the 28 square meter to 35 square meter size range. Look for studios in established buildings,
as there can be some bargains there. Jomtien Beach has some good sized buildings with studio condos that can be found in this price range also. Further out of town, 1 bedroom and even 2 bedroom condos set in over 60 square meters or more can also be found in the 2 million baht price range. If you are looking for more space and have less interest in a beachside or more centrally located dwelling, then these can offer great value, providing good living space for a relatively modest cost.
In terms of houses then there are some good options East of the Sukhumvit highway in some of the many housing estates that have been built along the sois that stretch inland. Look to be able to buy a 1 bedroom or 2 bedroom standalone single story house for around 2 million baht and upward. Below 1.5 million baht there is little to be found but there are still some bargains for the avid bargain
hunter. From the point of view of facilitates, then condos usually have a swimming pool, fitness room and common areas for gardens and parking etc. For houses this may or may not be available depending on whether or not the house is located within a housing project that has central facilities. Many of the smaller houses in this price bracket are stand alone and may not have those facilities in place.
That said, you will get more land with a house, and car parking will be on or directly outside your own property. You may also be able to find a house with enough land to build a small swimming pool outside, though this may take you over the price bracket of 2 million baht. The best course of action to take when looking at houses is to try to ensure it is in a housing project or is in an established area if not in a managed environment. In terms of security, it is well worth checking out the security arrangements of a housing project to ensure that there is a guard on duty at the gatehouse at all times and to ensure that cars are logged with entry badges etc. Typically in condos there is more stringent security with not only gatehouse security in place, but also main door and lift access in operation by
way of key cards and/or fingerprint readers.
One other thing to consider is the ownership rules for foreigners regarding a house vs. a condo. A foreigner cannot LAGUNA BAY 2 - Studio (25.5 sqm) apartments for sale in Pattaya start from 0.99m THB own land therefore they cannot buy a & 1-bedroom (37 sqm & 0 sqm) apartments start from 1.49m THB. 2-bedroom options are available by means of combining multiple units. Construction starts: Q1 2012. Completion: Q4 2013
House outright. It will need to be leased on a 30 year lease that can have renewals for 60 years built into it, or it will need to be
owned by way of a company name. If you have a Thai husband or wife then of course the property can be bought in their name and you can enjoy dwelling there on that basis. Condos on the other hand can be bought by foreigners on a freehold basis subject to not more than 49% of the condos in a single building being held in foreign hands. Thus it may be that this method of ownership will suit foreigners who don’t have a Thai partner or do not want to buy on a leasehold or company name basis Other considerations may come down to how much peace and quiet you may achieve with a house vs. a condo.
Condo owners may need to consider that there will only be a single wall separating them from their neighbors in all directions. For a single house owner you should be well insulated from the direct noise of neighbors, however housing developments typically allow dogs and other pets to be allowed, something that may disturb you and something that is hardly ever allowed in condos. Of course if you own a dog or plan to get one, then a house will be more fitting. For a townhouse buyer then you may find you are not any better off than a condo owner in terms of a separating wall, however at least there will be no one living above you. Other considerations
are traffic noise. If your house is on a main street then this may well disturb you. Living in a high floor condo will allow you to almost escape traffic noise altogether.
With traffic in mind, it would be worth checking out which roads get busy especially if you plan to locate slightly out of town or plan to invest in a house that is more inland than the Sukhumvit road highway. Some sois can get quite full of traffic at certain times, and it would be wise to ensure your location doesn’t prove to be an inconvenience. As regards which is better to invest in, house or condo,
then from a resale point of view it would appear that city center or well located condos move faster in the market than out of town houses. However from a living perspective the relatively small floor plan may cramp the style of some.
A 2 bedroom house may be the perfect investment for the long term especially if you are looking to stay there yourself and are looking to have the benefit of extra pace. Look to secure a house that covers 85 to 130 square meters as compared to the smaller floor plans of condo offerings.
Regardless of the choice you make at least you can be satisfied with the fact that in Pattaya, 2 million baht can still buy an attractive property - one that should make a good home and that will also appreciate over time.