Articles & News About Money & Coin Collecting

Are New Condos Really Worth The Money?

In a column in March 2006 I noted that property speculators are pushing up the prices of new condominium units, which one might consider are already high compared to older ones in Bangkok.

Today let's take a look at an example of this phenomenon. There was a new condominium launched recently on a plot of land adjacent to another older building. The latter is a little over 10 years old, but when it was first constructed it was regarded as one of the few genuine grade A condominiums in Bangkok. It has a lovely podium level, with a tranquil pool area, tennis court, every other facility you would expect, and each unit measures at least 300 square metres. Why am I telling you this? It's because the sales prices in this condominium are little over one-half of the sales prices in its new neighbor-to- be.

For convenience, let's say that the older condominium is selling for 55,000 baht per square meter and the new one is selling for 100,000 baht per sq. m. Is the difference in price really justified?

We can easily rule out the land price, as the two condominiums are right next to each other. So what is the difference?

Construction methods? Doubtful. In fact, many older condominium units are arguably more solid than the newer counterparts. Many developers producing lower-grade new condominiums are using materials, such as plastic imitation parquet flooring, which are unlikely to last more than a year or two. Also, lower-grade materials can allow sounds from neighboring units to pass through.

Facilities? Not in the case above. The older condominium has a full range of facilities already.

Calibre of the co-owners? In this case the new condominium has a number of smaller units, geared to perhaps a more middle- class market than the older building which comprises large units only.

The appearance of the building? This must be it. The new condominium will have a nice, shiny new lobby, a clean and newly painted exterior, freshly laid flooring in the common areas, and new furniture. The old condominium is waiting for a repaint, and a new lobby would be nice too.

Then why don't the owners of the older condominium make these improvements? Probably because when it comes to buying a condominium, people are ready with their chequebooks, but for ongoing maintenance, this is not the case. Or maybe the condominium committee members aren't as good at selling-in this case the idea of a necessary cosmetic upgrade to add value ? as those working for the developer.

Does this mean that in five or 10 years' time the new condominium will look like the old condominium? Is buying a condominium like buying a car; the price depreciates over time?

Well, if you gave the older condominium mentioned above a repaint, gave it a new lobby with new furniture and resurfaced the podium level, and renovated the small amount of common space in front of the units, and then the difference between the two would not be that great. I don't see many prospective buyers drilling into the concrete structure to check the integrity of the concrete.

Bear in mind that if you buy a unit in an older condominium, there's a good chance that inside there could be a lot of old wooden fitted furniture that's 10 years out of fashion. You may want to rip the whole lot out and start from scratch. If you carried out a thorough renovation of the unit-new floors, new furniture, new electrical and sanitary fitting, then you would probably be looking at spending in the region of 10,000 baht per square metre.

So perhaps it all depends on how much you are willing to spend on a shiny lobby. I myself generally spend about one minute per day walking through the lobby. Most of my time I spend inside the unit. How about you?

Neil Simmons, formerly of CB Richard Ellis, is co-director of Soho Properties (http://www.soho-properties.com), a leading real estate agent and location specialist for property in Bangkok.

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

Coin Collecting At FindaBook.com
Search For Books On Coin Collecting

Historical Silver Dollar Value Trends Reveal Coins Destined for Bullish Futures
Analysis of U.S. Peace silver dollars (minted 1921-1935) indicate only a few dates of this artistically acclaimed coin series are good bets to enjoy strong price advancements in the future. This conclusion is based on proven performance over a period of many years.

Cleaning Old Coins - What's Important
Thank you for being interested in our work. We hope to be of service with the following guidelines. Like many people you probably have or had some old coins in your possession. If you do have some you probably think that these old coins don?t have any value maybe you just keep the m for sentimental reasons or just because they are old. In most cases you would be wrong. The best way for you to know what these coins are worth would be to take them to a coin dealer. But be advised, you should never attempt to clean those coins before you take them for valuing.

Hammered Gold and Hammered Silver Coins: Evaluating Their Price
When it comes to evaluating the price of hammered coins it is much more challenging than it is for other items that are still manufactured today. That is why both buyers and sellers have to be extra vigilant in ensuring that they buy and sell for a fair price. If you are considering selling or buying hammered coins, make sure that you seek professional advice before doing so and that you do not simply jump in at the first offer.

Gold Coins and Gold Bullion Remain a Safe Place For Your Money
The Bull and The Bear are continuing to bang heads Wall Street and even Main Street USA, and I am sure even your street is in shambles

Challenge Coins - A Special Type of Coins
For your convenience we have published this article in order to let you know of everything related to the Challenge Coins. Enjoy ?

Canadian Coin Prices - Evaluate Your Coins
I trust that you will take a few moments to read this article. If this is the case then lets get started.

American Eagle Gold Coins: Why These Gold Bullion Coins Are a Worthy Investment
There's never been a better time to buy American Eagle Gold Coins An economic recession is almost assured

Buy Silver Coins With Confidence: A Guide To Selecting Reputable Silver Bullion Dealers
With the price of silver exploding in recent years, there seems to be no lack of silver bullion dealers advertising their services online Trying to find a reputable dealer can be a bit confusing for the novice silver coins investor

Old Coin Value - What's Important
Thank you for being interested in our work. We hope to be of service with the following guidelines. Everything you have as probably some sort of value attached to it. Sometimes this value is founded on how you feel about a certain item, while other items are given values assigned by others. The same applies to old coins and other coins in you collection. While professional coin dealers or expert coin collectors will know the old coin value for various coins, we may have no idea about this. This is the main reason why you should acquire as much knowledge as you can about evaluating old coin value and what their price is. The knowledge you will gain is priceless. You will be able to get a ruff idea about what you can expect to get from the...

Leading Coin Supply Company "Wizard Coin Supply" Launches Book Advisory
Wizard Coin Supply, a global provider of coin supplies and coin collecting accessories, is proud to announce the launch of its New Book Advisory.

Coins Minted In Gold, Silver And Platinum As Investments In Metal
Coin collecting goes back over many centuries. It is man's inborn nature to collect something. And coins are one of the most popular collectable objects. The collection of coins, whether by professionals or amateurs, is called Numismatics. This article is a list with the most popular coins made from precious metals. People always collect coins, especially ones which are minted from precious metals like gold, silver and in later years from platinum. The early technology of coin-making was very primitive for many centuries. And many sorts of coins had very varied shapes.

Coin Collecting Becomes More Popular as Gold Tops $1,000 an Ounce
As the price of gold skyrockets and the economy falls into a recession, more people are taking up the hobby of collecting coins. And all the while, sites like CoinPeople.com and OmniCoin.com are reaping the benefits.

Favorite Gold Coins To Collect For Investment
Why Gold American Eagle Coins are Popular among Collectors

Collecting Rare Old Coins
---------- Getting your coin collection on the go isnt as tricky as you might consider and there are a quantity of avenues you can follow. Almost all of it depends nevertheless on why you desire to become a coin collector. If youre doing it just as a peaceful pastime then you have no problem and can get started pretty much off the bat.