Affordable housing for single people

Being single has become trendy!  According to statistics gathered by Mahidol University’s Institute for Population and Social Research in 2017, Thailand has a higher proportion of single people.  Currently there are plenty of affordable choices available for those living alone.

1. Safety is number one!

Safety is a top priority for anyone living alone.  You are lucky if your house is located within a private property or a condo with a good security system and surveillance cameras.  When looking for a place to live, look for a friendly, non-desolate neighborhood, or one that is close to a police station. For reassurance, you may want to survey the neighborhood during the nighttime or conduct an Internet search for crime in that area.

Safety inside the home is equally important.  For example, flooring materials, especially in the bathroom, should be non-slip.  All areas should be well lit.  If you live in a single-detached home, automatic on-off lighting sensors outside the house and windows with wrought iron burglar bars to deter intruders are recommended.

2. One-story house or condo?

This depends on personal preferences and available budget.  Let’s explore options as a guideline for decision making.

  • One-story houses - a simple and affordable choice: Based on the current market, you can own a one-story prefab house with a budget of about 500,000 baht, particularly in provincial areas (data as of 12 November 2018).  If you already have a design and want to build a house on your own land your budget can be even lower, starting from 300,000 baht (data as of 15 June 2018). The advantage of a single-story house is that it is more spacious than living in a condo, with areas outside the house for recreation or for partying with friends.  It will also be convenient and comfortable when you get older as you do not have to climb stairs.
  • Condominiums – Can be a good investment, with a convenient location and compact size: There are plenty of affordable condominium projects located in suburban areas along BTS lines.  Prices can start from below one million baht (data as of 4 September 2018).  There’s another advantage of a condo.  If one day you change your mind and do not want to be single anymore, or if you want to move, or sell, or lease, your condo can be an asset you can sell.  In terms of size, a small condo can reduce daily household chores, and because it's not too big it can make you feel less lonely.

3.  Convenience

Facilities are another important item because we have to find comfort and happiness without having to depend on anyone.  If you live in a gated community there is usually a common area for both “physical happiness”, such as a fitness gym with treadmills or a swimming pool, and “mental happiness” such as a courtyard for relaxing.  People living in green areas are less likely to suffer from health problems, depression, and anxiety than those living in concrete jungles.  A good neighborhood will have convenience stores, department stores, hospitals, and perhaps even a police station nearby. Locations accessible by public transportation are very desirable.

4. Finance

Single people don’t have to worry about budgeting for children and spouses.  Your money is your money!  If you want to own your own place you should have a stable monthly income should and maintain savings of at least 20% of the property value before making a purchase.

A home loan is another option if your savings are not enough but you still want to own a property. You do not have to wait several years to accumulate a down payment and do not have to risk being unable to catch up with soaring prices.  There are many competitive loan options, approved quickly with affordable installments, interest rates, and periods suiting your finance.

Even if you are single you can be happy, whether in a home or a condo.  Just choose carefully to enjoy your life in the long run.