For many new comers looking to buy their dream property in Thailand, dealing in this market is a whole new ball game compared to home. The way the land is divided into Rai and the property ownership restrictions attached to foreigners may all come as a surprise. With all the diversities to contend with, your investment should be backed up with some hard-line research. A good start is to begin by looking at some of Thailand’s many property reports.
Once you purchase your home you’ll not be covered by a return policy or money back guarantee. People that take the time to read property reports will always advise you to take them seriously. There are various types of property reports. Some you’ll read about the property market overall or in a certain area, whereas some reports will about the specific property you have taken an interest in.
The first thing you’ll learn with a market property report is which ones you can and can’t rely on. Those that seem too positive are nearly always an advertisement. Property reports used solely for advertising are misleading and are designed to get your foot in the door. Once you actually get there, the situation you read about was either out of date or doesn’t tell you the full story.
However, a good property report gives a wealth of positive and negative information. You can see if there are any surprises in the market on the way by taking your research back a few steps to earlier datelines. From here you’ll be able to spot past, current and predict future trends using two sources of information. Some reports will even give you an idea of land that has been sold for development, so you can predict whether there will be an overkill in developments.
How to learn the right information depends on your willingness to study the market. Firstly, you should always check the dates and their relevance to your area of interest. Secondly, use two or three sources of information. If you start to find discrepancies, then a third source is needed for accuracy comparison. From your research you’ll be able to learn which companies are offering the most accurate market information. In addition, this gives you the ability to read through a variety of different outlooks from a diverse range of sources. Only reading about one person’s translation of the property market can be brainwashing.
Once you have the area you want to invest in sussed, you should finally narrow down your property report to specific properties you are interest in. A good report will help you find out about any hidden secrets with that particular property. Here are some of the key things to you can achieve through a reliable and direct property report.
- Condition of roof, walls and general structural report
- Air conditioning, electric and plumbing reports
- Mould and termite reports
- Pool or spa reports
- Plan repairs, upgrades and regular maintenance
- Anticipate any future problems
- Calculate electricity bills
- Estimated value of the property
With a reliable market property report narrowed down and combined with a specific property report, you will be armed with all the information you need. You can predict any extra investments you’ll need to make as well as put in a fair offer. Time, effort and money spent now will save you time and money in the future.
