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Moving to a newly rented space or buying your first property in Thailand involves a lot of thinking. To ensure you’re getting your money’s worth, create a housing plan. This will help you identify the type of housing arrangement you want and purchase.
How much privacy do you need? Do you prefer a house with little maintenance and repair work or would you be amenable with anything that matches your budget? All these concerns you have to take into account before making a final purchase decision.
Set Guidelines
Guidelines are a set of qualities that you are looking for in a home. Do you want a medium-sized home or a big one complete with a lawn or pool? Where in Thailand do you plan to reside in? General guidelines can give you a clear idea of the type of property in Thailand you’re likely to purchase.
Priority Checklist
What is your ideal residential property? Why you wanted to move into a new home should be the least of your concern. Remember the qualities you noted down while setting general guidelines. List them down one by one. When consulting with a property specialist, your list can come in handy.
Next, rank these qualities according to importance or personal preference. List your top priorities. A checklist will help you come up with a more informed decision.
Condo vs Detached Home
This can be a source of headache for many first-time home buyers. If your decisions aren’t firm yet, then you are likely to keep changing your mind depending on who you consult with.
The advantage of a condo unit is that they are mostly situated in strategic locations – near MRT, BTS or bus stations. They are almost always in the heart of the city or anywhere accessible. Some condominiums are also serviced so, to some extent, they operate like hotels. People on-the-go would definitely find this setup very convenient and suitable to their lifestyle.
A detached home would be great if you’re planning to have your own family in the future. If you are averse to shared walls and prefer more privacy, a house on a subdivision, for instance, should be worth your while.
Buying a condo unit may be pricier but it all boils down to personal preferences and immediate needs.
Other Tips to Consider
How much are you willing to spend when buying property in Thailand? While property here is generally affordable, lack of research or planning can affect your purchase of a property. Prices depend on qualities like location and accessibility.
Moreover, different rules apply to natives and foreigners. Make sure to read real estate laws and ordinances and keep up with updates from time to time. Thailand’s property market is healthy for the most part but laws change every so often. Failure to keep track of new legislation about purchasing or renting a home can be detrimental to property buyers – especially if they’re foreigners.
There are also laws that apply only investors and developers.
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