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Nice Apartment Construction Project

Basics

image dsc20172.jpgWhat follows is a brief review of what I consider ‘a neat little building project’. The developer is an acquaintance and I was delighted to go see what he was up too. (Note: this isn’t a promotional write-up, as 14 of the 16 units were sold when I looked about a month ago with no advertising as such and the developer didn’t request I post this information). The point of the article is this: how refreshing it is to see a lower cost development which is well laid out and has kind of a community feel to it. It is also intended for any would be developers, as an idea to emulate, since this project has met with overwhelming success.

image dsc20174.jpgThe site sits on under 1 rai of land (300 + tw) which is a rectangular shape. There are two buildings; one with 10 apartments and one with 6 apartments. These buildings form an L shape. All of the apartments overlook the 8 meter long community pool.




image dsc20175.jpgEach unit has a small sitting area outside facing the pool.




image dsc20176.jpgThe individual units have approximately 38 square meters of living space and appear well fitted from what I noticed during my brief visit. The have grounded electrical and an adequate number of recessed lighting outlets. The use of glass bricks which allows extra light into the bathroom is a nice touch.

A lot of lower cost projects are just ‘simple math’. Divide up all available land area and create townhouses. It is nice to see some value put on laying out a site in a visually appealing manner – not just jamming as much concrete as possible on to the site.

The land value around this site is currently about 2 + million per rai. Most of the units were sold in the 800,000 baht range.

image dsc20173.jpgThe second building, which consists of 6 apartments, is under construction at this point.



Construction methodology

The developer, having no previous building experience, did something very smart at the beginning of the project: research. He and his wife got references for various building contractors and checked out the work that they had done before. Then the developer consulted some of his expat builder friends and came up with a list of questions and a brief material checklist. He verified that the points and materials on the list would be met by the contractor. The contract entered into with the building contractor included completing all aspects of the project; including materials. It is the best time to take your time, when deciding on a building contractor. This becomes even more critical when doing multi-story construction, which requires a higher level of expertise than single story units.

Legal

As a legal note; the units have been marketed under a 30 year lease with an option to renew. I’m told that condominium project which have under 50 units do not meet the requirements to be sold as individual units. (This restriction would not apply to townhouses since each unit is on a separate plot of land. However, since a townhouse would have land rights, foreigners would be restricted from ownership. Reference the legal write-up for more information.)

Conclusion

A nice development that shows how design features and land layout = desirability of the finished product.

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