Finding the absolute perfect condo is never easy. It seems most Bangkok property seekers always find at least one or two things they don’t like when viewing condos and this can go on for a long, long time. Rather than trying to find the ‘proverbial needle in the haystack’ you have the option to make the property exactly how you like it. If you have the time, patience and budget you can purchase a renovation project and tailor every single aspect of the property to your specific desires. When you build a unit from a bare shell form you are not only in control of everything that goes into the interior but depending on the structure of the building, you can largely control the layout of your condo as well. It can be quite the project, but it is rewarding and can save you quite a bit of money as opposed to new projects.
3 Types of Bangkok Renovation Project Condos
For the most part, if you want complete control of the interior of your condo, you will need to buy a condo that is either in pre-existing bare shell condition or tear down the existing interiors. The Bangkok real estate market contains properties in the following 3 general categories which you must choose from.
1. Buy Unfinished, Bare Shell Unit in Pre-existing Condominium
This is probably the least common and most expensive option of the three. Most middle range condos are fully fitted during the building’s completion but some larger, more high-end projects still have bare shell units even years after the completion of the building. It also happens quite often that a building does not fit out their penthouses and leave them in bare shell condition even though the other 99% of the units in the building are fully fitted. Therefore probably have a better chance to buy a bare shell penthouse in Bangkok than smaller units.
Advantages: You will have compete freedom to design your condo from the ground up and you will likely be able to purchase a unit for less than the average asking price for the building. By buying a unit in a pre-existing condominium you will be able to perform due diligence more effectively and find out more information as the the building has history.
Disadvantage: Once Bangkok condominium projects are finished, units in bare shell condition are few and far between. It will no doubt be a time consuming and frustrating search finding bare shell units (other than penthouses) in most completed modern condos.
2. Buy Property Directly from the Developer during the Construction Phase of a New Project
Buying a property during the pre-sale or pre-construction period can be a way to get an untouched bare shell to renovate to your liking but even if you can find one, you’re basically going to be buying from a floor plan and computer generated mock-ups of the condo.
Advantage: Buying direct from the developer before project completion is less costly than buying during completion and there is far greater chance to be able to find units which are not built up with the condominium standard interiors.
Disadvantages: Other than the few (usually high-end and expensive) projects which offer bare shells during construction, your desired project may not offer units in bare shell condition because of their agreements w/ the construction companies and suppliers that fit the interiors. If you’re buying a property in pre-construction, the only assurance you have about the quality of the future project is from the past projects of the developer. If the project is from a prolific developer such as Noble, Sansiri, Major, Raimon Land, TCC Capital Land, AP, Fragrant Group, etc. in all likelihood it will be to similar standards as previous projects, but if you are buying a bare shell from a lesser known or new developer, you could be in for a rude awakening with the building that your condominium sits in.
3. Buy an Older Property, Tear Down & Renovate
This is not only the most common, but probably the most cost effective way to build up a Bangkok condo from bare shell status. Of course, you will have to be able to have a good sense of the space an older condo offers. Luckily in Bangkok there is an abundance of old condos completed before the year 2000 which have a good amount of space and interiors that have not been upgraded which keeps the prices affordable. In these older properties the most common needed renovations are removal of unnecessary built-in wood such as dividers and cabinets, outdated bathrooms, outdated kitchens and even extra walls which can be removed to add extra space to other bedrooms or most commonly living rooms.
Advantages: There is usually a wide selection of renovation projects available in Bangkok so will have a wide selection at your disposal so getting the best price is usually the prime issue when picking up a condo to tear down and build up. Also, the average sizes of the rather large crop of pre- 2000 condos is much larger than the condos of today.
Disadvantage: Probably the only disadvantage in doing this is you are at the mercy of the building when it comes to common areas. “You get what you pay for” usually holds true with renovation project condos as properties selling at at around ฿50,000 per square meter tend to not have the nicest common areas (building exteriors, lobbies, hallways, facilities, etc.). For the most part, if an aged Bangkok condominium is rundown there is a very low chance that it undergo anything other than minor renovations.
Once you find the right condo it is time to plan your renovations….. coming soon
Keep in mind we don’t list most of these types of properties because some are purely cement slabs and older condos may be unsightly for website visitors. Contact us for more information about available Renovation Projects.