Naturally it is correct to expect a return on your investments. The best returns are those that satisfy our expectations of value for money, so we don’t have any post purchase doubts. Even better still, are those deals that give us added value where we get more than we bargained for.
In Thailand, investment is easy and relatively cheap when you compare the costs to other countries in Asia, so getting the most out of your investments should be straightforward.
When people invest in their home in Thailand, most of them are not immediately calculating the monetary value improvements will add to their property’s worth. Sometimes it is about the personal satisfaction and the comfort they gain. The great thing about this country is that all of these things are available at a reasonable price if you do your research. After all, cheap prices for a job well done is truly value for money.
However, cheap prices are no guarantee that you will be satisfied with the end result. The quality of workmanship will always have the final say. Having to call back carpenters or builders to fix shoddy workmanship will almost certainly put a dampener on things. Furthermore, a common trait in this country is that if you didn’t hire workman that got the job right the first time, then most of the time their return visit will be a waste of time.
One of the first lessons you will learn when dealing with tradesmen in Thailand is caution. Calling them back to rectify the problem they created often results in additional costs. That’s without mentioning the repetitive issues you may have with the work they carried out. Most of the time many people end up calling on a new and more expensive contractor to rectify the original workman’s slapdash job. The end result is you end up wasting more cash to finally achieve the finished product that you originally envisaged reducing the value get from your investment.
Making money out of property in Thailand is not the easiest task. However, there are plenty of run down homes that are in need of just a few improvements to increase the value. Finding the right workmen at the right prices gives you a massive edge in the market. The problem is that the asking price for some of these properties seems steep considering their condition. Unfortunately, in the Thai property market, there are many people that overvalue their home.
Don’t take the risk on these overpriced properties unless you are sure there is room for improvement. For investors looking for a quick return, these properties are not the best option. For an investor that doesn’t mind waiting a while, then there are possibilities. Check if there are any planned developments in the area such as shopping centres, Tesco, MRT or BRT. All these will serve to add value on to your property in the future.
Weighing up Thailand’s property investments, the only sure fire way to ensure you get the most out of your investments is experience and knowledge. People with experience in home improvements in Thailand can assist in pointing you in the right direction when it comes to hiring workmen. Plus, knowledge of the local area’s past as well any future plans for development in that area can serve you in making wiser investment decisions.
