Buying Your First Condo: How Much Money Do You Need? Complete Cost Breakdown 2026
March 22, 2026
Buying Your First Condo: How Much Money Do You Really Need?
Buying your first condo in Thailand is an exciting milestone. Many people think they only need a down payment, but there are several hidden costs to prepare for. This guide breaks down every expense you'll face.
1. Booking Fee
The booking fee secures your chosen unit. Typically 5,000 - 50,000 THB depending on the project:
- Condos under 2M THB: ~5,000 - 10,000 THB
- Condos 2-5M THB: ~10,000 - 30,000 THB
- Condos over 5M THB: ~30,000 - 50,000 THB
2. Contract Fee
After booking, you'll sign the purchase agreement within 7-14 days and pay an additional 10,000 - 100,000 THB.
3. Down Payment
Current bank lending policies:
- First condo: Up to 100% financing for properties under 10M THB
- Second condo: 80-90% LTV, requiring 10-20% down payment
Tip: Even with 100% financing available, putting down at least 10% will reduce your monthly payments and total interest.
4. Transfer Fees at the Land Office
| Item | Rate | Paid By |
|---|---|---|
| Transfer Fee | 2% of appraised value | Split 50/50* |
| Mortgage Registration | 1% of loan amount | Buyer |
| Stamp Duty | 0.5% of sale price | Seller |
| Withholding Tax | Progressive rate | Seller |
*Note: Fee splitting depends on agreement. Some developers cover all transfer costs.
5. Common Area Fee (CAM)
- Standard condos: 35-55 THB/sqm/month
- Mid-range condos: 55-80 THB/sqm/month
- Luxury condos: 80-150+ THB/sqm/month
6. Sinking Fund
One-time payment at transfer for future major repairs: approximately 500-700 THB/sqm.
7. Utility Meter Deposits
- Electricity meter: ~3,000-5,000 THB
- Water meter: ~2,000-3,000 THB
Example: 2M THB Condo (30 sqm)
| Item | Amount |
|---|---|
| Booking fee | 10,000 THB |
| Contract fee | 50,000 THB |
| Down payment (10%) | 200,000 THB |
| Transfer fee (half of 2%) | 20,000 THB |
| Mortgage registration (1%) | 18,000 THB |
| Common area fee (1 year) | 18,000 THB |
| Sinking fund | 18,000 THB |
| Utility meters | 7,000 THB |
| Total | 341,000 THB (~$9,500 USD) |
Tips for First-Time Buyers
- Check your credit score before applying for a mortgage
- Compare interest rates from multiple banks
- Location matters — condos near BTS/MRT stations appreciate better
- Inspect thoroughly before transfer — report any defects
- Keep payments under 30-40% of your monthly income
Looking for your first condo? Our team offers free consultation with no obligations. Contact us today.