2 Factors that Influence The Resale Value of Condo in Bang Phlat area

Permanent residence is not always the sole reason for buying the condo. Some of you might be buying the building with the plan of making more profit by reselling the condo in the future. However, before making the investment, it is crucial to understand the factors that affect the resale value of a Condo in Bang Phlat area [คอน โด แถว บางพลัด, which is the term in Thai]. Unfortunately, not all the factors will be under your control. So, gathering intense knowledge is better than making a purchase based on apprehensions and presenting real estate market trends.

Location of the condo

Location is always the most critical factor that governs the chances of selling new units of the condominium. It is better to choose a location that may not be very well-developed now but will be highly developed soon with some society improvement projects coming up in the area. For investment purposes, you should assess the location based on what it will be in a few years instead of judging by the present status. If the location is going to be one of the most popular ones in a few years down the line, investing in the condo before the price starts to rise will be the right option.

Common area assessment

The maintenance of the building will play a significant role in adding to the reliability of the condo. If the condo is in good condition, but the shared spaces show a lack of maintenance, the buyers won’t like to invest in the property. Buyers are already agreeing to pay the monthly expenses for the homeowner association. If the quality of maintenance is so poor despite paying the fees, then who will buy the property? So go through the entire area and check whether the pool is clean, gyms have good equipment, and the landscaping looks in perfect shape before planning the investment.

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