Before taking the plunge and buying a property in Thailand it’s absolutely essential to do plenty of research so you don’t lose out on your investment. Many expats make the mistake of trying to buy property in Thailand without doing the relevant research which could save them a lot of cash and less heartache in the long run.
When you consider that when purchasing property in your home country you wouldn’t take any unnecessary risks so make sure you do the same in Thailand. Here is a list of the top five things to research before buying property in Thailand.
Thai real estate agencies – Make time to contact or visit reliable Thai real estate agents. Recommended online Thai real estate companies have a wealth of experience in helping foreigners buy property in Thailand. They can provide you with professional and qualified advice while taking away any potential risks out of property buying along with investment opportunities.
Find a good Thai solicitor – Use the services of a Thai solicitor to find out exactly where you stand regarding foreign freehold titles. Property laws concerning foreigners can be extremely complicated as well as costly if you decide to go it alone. It’s definitely worth investing time and money in liaising with an experienced Thai solicitor to make sure all the correct property buying procedures are followed.
Explore the area – Before committing yourself to buying a condominium, town house, apartment or villa make sure you get out and about to explore the area. If you want a quiet location, then choose the outskirts of town or if you’re after excitement then maybe a beach front property is more suitable. Naturally, the cost of buying property in Thailand can depend a lot on its location.
Plan your budget – When it comes to buying property in Thailand plan your budget and stick to it. Do extensive research about Thai property markets to make sure you are getting the best possible deal on your investment. Don’t be afraid to negotiate on the price. You may be surprised about what you can save by wheeling and dealing.
What type of property do you want to buy? – Check out the different types of properties for sale such as new development condominiums, spacious town houses, modern apartments or beachside luxury villas. If you are buying property in Thailand as a rental investment opportunity it’s certainly advisable to do plenty of research before making a financial commitment.
