Is it possible to own a condo as a first jobber?

Are you bored with long hours of commuting between home and work? You might want to buy a condo that is close to your workplace, or more convenient for getting around. This might seem impossible if you are a first jobber with a limited budget. However, if you plan well, owning a condo in your 20s is not out of reach.

Check your financial readiness

Down Payment: If the condo has not yet been built, you will need to make a down payment. This is usually around 10-30% of the sale price.

Expenses and transfer fees: On the day you take ownership you will have to pay the mortgage fee, which is 1% of the loan amount and transfer fee, which is 2% of the appraised value of the Department of Lands. There might also be other fees.

Monthly Installments: First jobbers usually have an approximate salary of about 20,000 baht per month and the maximum monthly installments should not exceed 40% of the income.

Other expenses: Condo ownership usually involves other expenses such as sinking fund, insurance premiums and annual maintenance fees.

Choose a location that is best for your lifestyle

Ekkamai-Prakanong
This location can attract working people who are looking for a condo because the price is still affordable compared to the areas located near the BTS line and this location is only a few stations away from Thong Lor BTS station.


Ratchadapisek-Ladprao
This location could suit both your lifestyle and working life as you can take the subway (MRT) that runs through CBD areas. Ladprao is located not far from Mo Chit BTS Station, which will give you easy access to the city to work.
 

Choose a smaller place that is reasonably priced

Choosing the right unit size is important as this can help you save on both monthly installments and maintenance fees. The space should not be more than 30 square meters which is enough for living alone. You can choose from a studio to one-bedroom apartment. The price range should not exceed 1.5 million baht so you can pay off the monthly installments faster which means you will pay less interest over time.

Bualuang Home Loans

Bualuang Home Loans

Whether you are looking for a house or apartment, your dreams can come true with a Bualuang Home Loan. We offer flexible lending options to suit a variety of needs and budgets.

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