It is essential to keep up with the modern world if you wish to achieve success. There is always profit for the people who take advantage of the latest technology and modern world. One similar trend that could earn you a lot of money today is a condo.
What is a condo?
A condo, short for condominium, is a piece of real estate on a large property. There are multiple condos on one piece of land. All of them can be bought and sold separately as separate real estate.
Condos are quite popular among the young generation. Freshly graduated kids prefer condos to an apartment.
Why condo
Condo is more budget-friendly than an apartment, whether you rent it or purchase it. It is an ideal choice for young adults who are on a job hunt or are working as interns.
The market of condos is getting bigger day by day.
How to make profit from a condo
A condo is real estate. It means that its price goes up when the price of the land goes up.
There are two ways to make money from a condo:
- You can rent it out to someone.
- You can sell it to someone.
Which method is better?
If you want to make quick money, it is better to rent out your condo. In case you want huge profit in a distant future, it is better to sell it.
Prerequisites before selling
Remember one thing that you are supposed to make a good profit from your condo. Condo transfer expenses [ค่า ใช้ จ่าย โอน คอน โด, which is the term in Thai] can take away a big chunk from your profits.
Therefore, you should not rush to sell it. Ideally, a land’s price does not rise soon. You need to wait for the right moment.
In a few years, you will be able to sell the same condo for a very high profit.
