Differences Between Condominium And Residential Set
Do you know what the differences between a condominium and a residential complex are? In this article, we will analyze what differentiates these two types of real estate project, to help you decide which of these options best suits your investment needs.
The Property
This feature makes a very notable difference when it comes to establishing the nature of the property in which you will make your investment. Generally, condominiums or buildings are usually managed by an owners ‘or investors’ association, but each unit or department generally has an owner.
This figure will become more noticeable depending on the formality and the commitment that the co-owners of a specific project reach, to ensure general care and the establishment of norms and considerations of coexistence, among other objectives.
The Rules
When you invest in a condominium, you can establish the rules of operation of the set. The administration of owners is in charge of enforcing the defined standards, and these apply to all the units that make up the set of properties.
The rules established by the administration of the condominium include that the owners must pay some fees, which help finance the maintenance of the common areas and the exteriors of the buildings.
Maintenance
When you buy an apartment, in this case, within a set, there may be a higher maintenance fee, compared to the cost of maintenance for an entire condominium. Being in charge of a building, services must be guaranteed 24 hours a day and an impeccable structure at all times.
In an apartment, the owner is responsible for the maintenance of the unit, which could mean more expenses in the long term, mainly when the property is used for a long time.
Knowing your investment preferences and needs will help you find the real estate projects such as U Condo kasetnawamin(u condo เกษตร, which is the term in Thai), that best suit your requirements. The decision is related to what you are looking for as an individual in terms of short-term goals versus long-term goals and the desired standard of living.
