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6 Important Factors That You Must Consider Before Buying a Condo in Thailand

Category : Buying Real Estate | Posted On 2019-05-25 00:00:00

6 Important Factors That You Must Consider Before Buying a Condo in Thailand

Thailand or “The Land of Smiles” is perhaps one destination that every traveler wishes to visit someday. Moreover, if you are an avid traveler who goes on vacation two or three times a year and loves to hit the beach during summers, then Thailand is indeed the best tourist spot for you. However, not all are satisfied with just one visit, and therefore, decide to invest in some Thailand condo for sale where they can rest during their long vacation. While investing in a cheap condo for sale in Bangkok makes sense than staying in a hotel every time, there are certain factors you must look into while buying a condo in Thailand.

Is it really worth it?

Before you proceed to invest in the listed properties in Phuket or opt for an available Thailand condo for sale, check if the investment you would make is really worth the effort. The Phuket houses for sale may serve as a resting place for some or a space that promises a guaranteed rental return. Still, others may consider it as a long-term investment that would fetch good returns on resale in the future. 

How big is the space?

Buying a condo in Thailand might not at all resemble the kind of space you are used to. Moreover, with the tourism industry booming in the country that promises all smiles amidst simple living mannerisms, real estate dealers are constantly inflating the prices of the properties in Phuket and other tourist spots. This means that you are paying double the price for a space that may not be large enough for you and your family. 

Quality of construction

The construction sector in Thailand has not all evolved in the past few years. Low pay, lack of safety standards and precarious working conditions have ruined the quality of the Thailand construction sector. Unscrupulous developers have added to their damaging reputation. Look carefully before you invest. Ask your developer to show you sample flats before you decide to invest in one. 

Quality of fixtures and furnishings

Are you the kind who easily gets influenced by sales marketing promotions or the sugary promises that the marketing people make? Remember that your decision to purchase is the direct way to their earnings from sales. This means that they will try to lure potential buyers with the sales banter concerning quality furnishings that may not at all exist in reality. Look carefully at the quality of the materials used to build the roof or the tiles used for floor construction. 

Developers’ credibility

Have you checked the details of your developers before investing with them? Is the deposit refundable? Have they agreed upon a written agreement that they would return the money in case you feel disinterested later? Most developers earn by cheating their customers into making non-refundable deposits. Beware of unnecessary benefits promised to you through lucky draws as these may cost you in the long run when buying a condo in Thailand. 

Is your condo overpriced?

Most developers, while advertising the cheap condos for sale in Bangkok or taking you through the properties in Phuket, advertise how the prices of the properties increase each year, thus, availing their buyer's handsome returns after few years. However, since most developers do not maintain books or sales records to save on taxes, it is possible that they will extract more money under the guise of initial investment or token amount. By the time you take over the possession of the condo, you might realize that you have paid more than what was worth it. 




 

Phuket Realtor
David Henry
David Henry is known for his integrity, high energy and hard work which goes into every detail or your real estate transaction at Phuket Realtor. David grew up in the Boston area and started as a realtor in his 20's. With over 30 years of experience in real estate, he has now started one of the best independent real estate agencies in Thailand, Phuket Realtor.

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