Bangkok is a sprawling metropolis that is the capital of Thailand. It is one of the largest cities in the world and is also a major tourism center in southeast Asia. Millions of people travel to Thailand each year; almost everyone lands in Bangkok and then proceeds to move around the country.
However, for the locals, it’s very important that they choose a decent place to stay in Bangkok. There are many things that you need to check before you decide to sign up for a condo. Renting a condo is generally a better choice because of a variety of reasons. Here are five benefits that you get for renting a condo in a big city such as Bangkok.
- Avoid Major Expenses
One of the main reasons why you should get a condo for rent in Bangkok is because you will get to avoid some serious major expenses. Owning a home is a big commitment and you will need to spend money time and again in order to have repair work done in the house. Installing a new roof or a new gutter can end up costing you quite a bit of money in the long run.
- Renter’s Insurance Is Cheaper
Another major reason why you should consider renting a condo instead of buying one is because renter’s insurance in Bangkok is generally cheaper than homeowner’s insurance. Because there’s much more of a risk involved in issues that might arise when you own a home, you will end up paying a considerable amount each month to get coverage.
- There Is No Need to Worry About a Down Payment
Income disparity is quite high in Bangkok and many people have to save for many years before they are able to put down a payment and buy a condo outright. Can you even afford that? Instead of spending that much money just to buy a condo, you should consider renting one. Not only will you get a condo at a considerably lower fee but you will also be able to save quite a bit of money on a monthly basis.
- There Are No Worries About Losses
Since the condo doesn’t belong to you, you don’t need to worry about losses of any kind at all. If there’s a problem, just discuss it with your landlord and they are going to fix it for you. However, if you own property, you should know that the value is going to rise or fall over the passage of time. In case you decide to sell your house when the market is falling, you are going to end up with losses.
- There Are No Property Taxes
Arguably one of the biggest benefits that you get for getting a condo is the fact that you don’t have to worry about paying any property taxes each year. Your only payment for the house will be the monthly rent that you give so you have nothing to worry about whatsoever regarding keeping the house or making government payments.