Thailand serves as a hub for most expats. It is quite easy to commute to different regions of the world because it is almost in the center of almost everything. Thailand serves as a retirement home for others. After they retire, this will be their final destination. It is a beautiful place to live because of its wonderful culture and welcoming people. The fourth group is made up of frequent travelers. These are a few of the most prominent reasons that can compel expats in buying Condominium in Thailand.
These are the people who visit Thailand three or four times a year and overspend on hotel accommodations. They wish to be free of rent and hassle by having their own permanent residence. Unless there are more than 50% of foreigners living in the same place, there are few restrictions on purchasing a condo in Thailand. As a result, purchasing a condominium could be a good move. This article is for you if you are a cautious person who has saved money and wants to make a decent investment. Here are some things to think about when buying a condominium in Thailand.
Location and its Value-Addition to Your Life
A crucial question is where the condominium is located. Because it is tailored to your specific objective in Thailand.
If you travel regularly, you’ll want to reside close to the train station. You would be able to commute more easily as a result of this. A crowded site like the station, on the other hand, would not be the best spot for a retiree who just wants to rest at home. You’d prefer your Condo to be located in a quieter area with less noise.
So have a look at The Condo’s location and how nicely it’s situated. For a frequent traveler, purchasing a condo 40 kilometers from the airport is not a good choice.
Should Size be Your Consideration?
Obviously, it does. However, it is also dependent on how much money you intend to spend on the Condo. There is no hard and fast rule when it comes to condo pricing. In most cases, the market rates are extremely exaggerated. If you are a foreigner, you may have to pay 2/3 times more.
If you want to buy a condo in Thailand, you need to be used to working in confined spaces. You’ll be astonished to learn that a 40-square-foot apartment can include two bedrooms. As the number of the group grows, the prices rise dramatically. So you’ll need to conduct some simple math to figure out how much space you’ll need.
Is the Same Price worth in Your Country?
We understand that having a property in Thailand sounds appealing. However, in order to make an informed decision, you must compare pricing. A condo in Thailand can sometimes be found for the same price as a condo in the United States.
Make a list of local real estate prices and compare them to those in Thailand. Make an educated guess about how much you’ll spend on the hotel. Examine the pricing difference between a hotel and a condominium. Add in the cost of furnishing your condo, as most come unfurnished.
Now consider this: would you spend the same amount of money for the same size condo back home? If the answer is no, you might want to think about it again.
Have a Check on the Quality
Walls that are too thin, poor tiles, bathroom design faults, and an insufficient kitchen setup are all huge warning flags. Don’t believe in flashy marketing. It all comes down to The Condo’s construction quality in the end.
Because of how poorly these condos are built, they are frequently unsafe and uncomfortable to live in.
The majority of the condos portray themselves as being of European level. However, before you invest in them, you must first inspect them. Take a look at the measurements and materials they’re utilizing to construct The Condo.
Check for historical data and designs for condos whose construction is complete. Also, check to see if they have the right building permits and that they follow all safety precautions.
What are the Added Facilities with your Selected Condo
Being able to live comfortably is the ultimate purpose of purchasing a Condo. And you won’t be able to do that if your condo doesn’t have any additional amenities. You must first make a list of available facilities before deciding how much money you want to spend on them.
Is your condo having furniture with sufficient light movement and ventilation?
Will you get adequate access to water, gas, and electricity?
What is the state of The Condo’s safety and security?
What’s the vibe like in the area?
Is there a train station or an airport nearby?
What is the level of pollution in the area?
Prepare for these situations by doing your homework ahead of time.
Is the Condo Provider Trustworthy?
If you wish to buy a Condo, you will usually have to put down a large deposit. This confirms that you will purchase The Condo. However, it’s possible that you’ll alter your mind afterward.
You should theoretically be able to get your deposit back! However, if you work with a shady real estate agent, you may not be able to get your money back.
Furthermore, untrustworthy sources may offer you inaccurate information regarding the property. There have been situations where the promoters sell the same Condo to different people many times.
So, before you decide to buy a condo, look for a supplier you can trust. Keep an eye out for certifications and licenses. Negotiate favorable arrangements in order to receive your deposit by a certain date.
Have You Selected The Condo in Suitable Surroundings?
You will feel better at ease in some condos if you live with others who share your interests. They are intended for expats to use. Others, on the other hand, are more like a hotel than a condo. Some are simply created as condos, but they are rented out as hotels.
You may find yourself in an unpleasant situation as a result of this. In Thailand, a hotel usually entails a large number of people, a lot of noise, and a lot of problems. There will be swarms of new faces leaping into the water, tourists making loud noises, and partying hippies keeping it REAL all night.
So take your time to examine The Condo’s circumstances and atmosphere to see if it is right for you.
The Bottomline
There are a number of other significant factors to consider before buying a condominium in Thailand. These are the following:
- Will there be enough room for you and your partner to move about freely in the condo?
- Will The Condo’s price rise or fall in the next few days?
- Is there any possibility of changing or modifying The Condo’s floors and walls?
- How is the balcony-view from the condo?
- Is there a decent gym, a good pool, and a suitable welcome area for the office?
- Who is responsible for keeping the place up to date, and is it up to date?
There are numerous websites that give verified properties. The majority of these are highly effective and simple to locate. You can choose your ideal condo in just a few minutes by entering your preferences and parameters.
Buying a condominium in Thailand is a significant financial commitment. So take a seat and compose a list of items you’d want to have in your condo. Before you make the final investment in The Condo, consider your current and future demands. You may desire something different in the future but lack the financial resources to make another investment.
So now is the time to really consider what you want. I hope that this advice will assist you in determining what to look for in a condominium. Until then, take advantage of Thailand’s lovely lifestyle and everything it has to offer. For all types of Property related solutions, email us at [email protected].
