7 Insider Tips To Buying Condominiums In Thailand

Property agents never been busier and condominium sales have never been higher as the prices get lower and the choice of homes increase. Condominiums present an affordable and stylish option for homebuyers as compared to the high and unappealing prices of real estate. Here are 7 insider tips that every buyer can follow to get the most out of their deal.

Hire a professional realtor

A professional realtor will be able to assist you with the buying and transaction processes and he or she is able to explain to you the intricate details of your contract clearly, so that you will not get a rude shock in the near future!

Consider a financial backer

A financial backer is able to deal with the various numbers, data and considerations and work with the buyers with their decisions. A buyer will definitely require the extra money for closing costs and moving purposes, and a financial backer can assist them in that.

Purchase larger suites if possible

Larger suites have more resale value over time as compared to smaller and more affordable homes. There will always be Thai families or expat buyers who look to buy a bigger suite, and bigger homes will always be a popular choice. Hence, the buyer will be able to sell it with less effort in the future. Pick a suite or condominium that overlooks a nice view as it will certainly help during the resale process much later.

Visit the home at various timings

Some buyers favour how calm the environment around the home is, but dislike how noisy and lively it becomes at night (especially if the condominium is near Thai markets or transport stations). It is thus important to visit the condominium at different timings to get a well-rounded feel of the new environment.

Inspect the condominium

Ensure that the appliances, equipment and facilities are all in good working condition if the buyer is purchasing a second-hand condominium unit. The same applies even for brand new units; the buyer still has to ensure that everything is in good working condition. Hiring a home inspector will certainly help a lot in this task.

Inquire about the taxes and rent

Clarify if the buyer has to undertake the maintenance fees or will it be paid for by the seller. Ensure that each and every fee apart from the actual price of the home, is accounted for.

Make a smart offer

The buyer has to do some research before making his offer on the condominium. Check out what other similar homes are selling for and price your offer based on these estimates. Do remember to adjust your offer based on the condition of the property in question.