Sunday, 27 January 2013

Buying a condo at the Punna in Chiang Mai

If you’re looking to buy a Chiang Mai condo in the highly prized  “Punna”, you will find what you’re looking for and then some.  The Punna is a community in a much sought after residential area in the popular Nimmanhaemin Road area.   This community was built by developers who had a vision of creating a spot where you had everything you needed within a close proximity. 

If luxury is what you are looking for, there are condos in The Punna which you can buy that have amenities that you could only imagine. The location has many facilities, such as a pool, 24 hour security, sauna, business centers, and every imaginable activity you could want to do within walking distance or a short bicycle ride.  It doesn’t get much better than the Punna in Chiang Mai. 

The Punna’s prices tend to be in the 4-10,000,000 Baht range for a luxury spot in The Punna.  If you have a budget around this much or higher, you are sure to find some really luxurious places to choose from.   Condos with full amenities offered, fully furnished with TVs, furniture, and in some instances cable and internet already included.  Also in these luxurious condos have full kitchens and baths, a/c units, access to The Punna’s private pool and  local spas, gyms. If you do not need something with so much space, there are studio condos for sale also.  You can pretty much guarantee that if The Punna is where you want to buy a condo, they will have something you are sure to like.

When buying a condo in The Punna you should know that the condo has restrictions on pets, on the ages children can use amenities, noise restrictions, limitations on use of the recreational equipment the condo units have, restrictions on parking vehicles and more.  

Being sure to read through all these will keep you from rushing to sign something that looks perfect only to find out there are so many rules and restrictions that you wouldn’t have bought it if you had read it first…so READ those restrictions lists.  It’ll save you a lot of headache later on.

There are several fees that you will have to pay or negotiate with the seller to share with you.  Those are stamp duty, transfer fee, withholding tax, and business tax.  Typically, these are all split 50/50 which is the standard practice in Chiang Mai.  When negotiating the price on your condo purchase, be sure to include this in your contract, so you how much you have to pay.

Buying a condo in The Punna is possible for foreigners, and it’s not overly complicated, but you just need to make sure that you know exactly what is expected of you so it goes smoothly.  These purchases are cash purchases, so you will need to have the money in full in advance and not plan on making payments or financing like you do in the US.   Buying a condo is an exciting event, just be sure to read everything BEFORE you sign so there are no surprises later. 

Contact Perfect Homes now to buy an amazing condo in The Punna Chiang Mai

Renting a condo at the Punna in Chiang Mai

There are many opportunities available to rent a condo at the Punna in Chiang Mai.  There are some questions you need to have the answers to before you get ready to do your search to find the right condo at the Punna for you to rent.

  • ·       How long do you want to rent a condo for?
  • ·       Do you want certain amenities available such as cleaning service, a restaurant, fully furnished, etc?
  • ·       Do you have transportation or will you need it?
  • ·       Are you renting with someone or are you by yourself?
  • ·       Do you want a fully furnished, serviced unit or something unfurnished and more off the beaten path?
  • ·       Do you have children with you?
  • ·       Do you want to be in a quieter unit or do you love the hustle and bustle of nightlife and noise?
  • ·       Are there specific places in the Punna you want to be close to?
  • ·       What is your rental budget?

Having the answers to these questions will really help narrow down your selection when looking for places to rent in the Punna in Chiang Mai.  Take your list in hand as you search and you will be able to find the place that will fit your needs perfectly.

The Punna is THE place to be when it comes to being in a community that has everything right there for your needs; shopping, theater, coffee shops galore, banks, restaurants, the zoo, the university and much more.   It’s all within walking distance or a quick bicycle ride which is why The Punna is so popular. 

If you want a quieter place to stay, be aware of the places that are close to a lot of nightlife and consider the possibility that they will be quite noisy at night.  It is recommended to stay in a hotel for a week or so and really get a feel for the Punna before deciding on a rental that you will be in for awhile.
By staying in a hotel for a week or two, while you’re checking things out, you can avoid signing a rental contract in a place that you have never seen nor know anything about.  Since hotels can be so inexpensive, I would consider it an expense well worth it, for the headache and problems it could save you later from making by renting a condo in the Punna, sight unseen.

There are some beautiful luxurious condos in the Punna, and if you have that budget for them, you would more than likely be very pleased with your rental.   A lot of amenities, full furnished, beautiful furnishings and a/c are almost always included in a higher market condo and the extra money spent to have all the perks is really worth it if you can afford it.  Renting a condo in the Punna in Chiang Mai is not as hard as you may think it is.  There is always a lot available and since it is a relatively new area, there are new places being added all the time.