You Found Your Dream Condo — Now What?
Congratulations, you've found the perfect condo! The developer says it's ฿2.5 million, and you've got the budget ready. But hold on — the final bill might surprise you.
Here's a breakdown of every cost beyond the listing price that you should budget for.
1. Transfer Fees (ค่าโอนกรรมสิทธิ์)
The standard transfer fee at the Land Department is 2% of the appraised value. On a ฿2.5M condo, that's ฿50,000.
In many new developments, the developer splits this 50/50 with the buyer, so you'd pay ฿25,000. But in the resale market, it's usually negotiated — don't assume anything.
2. Specific Business Tax or Stamp Duty
If the seller has owned the property for less than 5 years, a Specific Business Tax of 3.3% applies (paid by seller but sometimes negotiated onto buyer). If over 5 years, Stamp Duty of 0.5% applies instead.
3. Sinking Fund (กองทุนจม)
This is a one-time payment to the building's reserve fund for major repairs. Typical rates:
- Economy projects: ฿300–500/sqm
- Mid-range projects: ฿500–800/sqm
- Luxury projects: ฿800–1,500/sqm
For a 35 sqm condo in a mid-range project, expect ฿17,500–28,000.
4. Common Area Fees (ค่าส่วนกลาง)
Monthly recurring cost for maintaining shared facilities:
- Economy: ฿35–50/sqm/month
- Mid-range: ฿50–80/sqm/month
- Luxury: ฿80–150/sqm/month
For our 35 sqm example: ฿1,750–2,800/month. Over a year, that's ฿21,000–33,600.
5. Meter Installation
Some new projects charge separately for utility meter installation:
- Electricity meter: ฿5,000–15,000
- Water meter: ฿3,000–8,000
6. Furniture & Appliances
If your unit is "fully fitted" but not "fully furnished," you'll still need to buy:
- Bed, mattress, and linens: ฿15,000–50,000
- Sofa and living room furniture: ฿10,000–40,000
- Kitchen essentials: ฿5,000–15,000
- Curtains/blinds: ฿5,000–20,000
Budget at least ฿50,000–100,000 for basic furnishing.
7. Mortgage-Related Costs
If you're taking a bank loan:
- Appraisal fee: ฿3,000–5,000
- Mortgage registration fee: 1% of loan amount
- Fire insurance: ฿2,000–5,000/year (required by bank)
- MRTa (mortgage insurance): Optional but recommended
The Real Total
For our ฿2.5M condo example, here's what you'd actually spend:
| Item | Cost |
|---|---|
| Condo price | ฿2,500,000 |
| Transfer fee (1%) | ฿25,000 |
| Sinking fund | ฿21,000 |
| Meter installation | ฿15,000 |
| Furniture | ฿75,000 |
| Mortgage fees | ฿30,000 |
| Total | ฿2,666,000 |
That's ฿166,000 more than the listed price — roughly 6.6% extra.
Pro Tips
- Always ask the developer for a complete cost breakdown before signing
- Negotiate transfer fee splitting — it's standard practice
- Budget an extra 8–10% above the condo price for all costs
- Compare common area fees across similar projects — they vary widely
- Ask about any upcoming special assessments from the juristic committee
