Top Tips For Buying Pool Villas In Thailand

Every so often, holidaymakers attracted by the property sales and longing to break from the old, find themselves lured into great deals. If you are a brave bargain hunter from the UK, perhaps it is time to consider buying a pool villa in Thailand. A 2-4 bedroom property in an overseas country makes a lot of sense in light of the pound's steady rise against the Euro, as well as the problems affecting many European destinations.

Headlines of affordable villas in Thailand and foreign currencies getting much stronger certainly sound tempting. Nevertheless, before signing up a homeownership deal it is important to consider carefully whether you need the property. The top tips for buying pool villas in Thailand include:

Contract

It is advisable to sign a contract only after you have understood the terms and conditions. However, most contracts are written using the local language. Therefore, make sure to receive two versions of the contract: one written using the local language and another written in English. Furthermore, make sure to receive a confirmation from a solicitor that indeed the English version is an accurate translation. Some of the specific points you need to be certain about include the required deposit; refundable amount & circumstances for refunding; and items included in the purchase price & costs of extras.

The pool villa itself

Because a pool villa in itself is a high value investment (though it is almost always cheaper to buy such a villa in Thailand than anywhere else), make sure that the pool villa you have lay your eyes on is a good shape. The pool is the main attraction of such a property so make sure that you check its state as well as the other parts of the house. If it looks like a good investment, go ahead with it but do make plans for maintenance services to come in after you have bought your house. For example, you would need a weekly or bi-weekly pool maintenance service for this villa purchase.

Financing options

If you cannot afford to buy your pool villa using cash, consider the available financing option. If you take the time to shop around, you will discover various mortgage finance options. Before signing any home purchase contract and paying the deposit, it is important to receive a confirmation in principle, qualifying you for a mortgage.

Any arrangements for finance need to be included in the contract. If possible, an "opt-out clause" is required in case the mortgage application is rejected in order to ensure a deposit refund. The mortgage will most likely be in local currency; hence, it is important to consider the impact of changes on the exchange rates.

Specialist advice

It is important to seek for specialist advice before investing in a foreign country. In this case, the advice of a solicitor, surveyor and architect is important before purchasing a pool villa in Thailand. Your choice of specialist should have a good understanding of the laws in Thailand and the processes involved in acquiring property there. They can help a great deal in confirming whether the seller or developer has obtained all the necessary permissions, planning consents and licenses.

Property ownership

It is common for sellers or developers to borrow money to put up their project, with the amount allocated against each unit as additional security. Therefore, the best way to avoid inheriting a debt is to ensure the seller or developer has the full title deed to the property. Your solicitor should be able to confirm this before signing the contract.