5 Key Considerations Of Buying A Condo In Pattaya
Buying a property in Thailand has it's major considerations and all must be carefully thought out and evaluated before a purchase is undertaken.
Perhaps the first point to cross is the location where you wish to live, this can have a direct impact on price, investment return, rental opportunities and of course amenities.
If you have set your heart in purchasing a property of the Eastern Seaboard of Thailand and in particular Pattaya then some of the major points for consideration are;
There is plenty of good news in Pattaya, the variety of properties in the greater Pattaya area is only second to Bangkok. From the modest bungalow in a rural area on the outskirts for 400,000 THB to the lavish beachside villa or spectacular penthouse for up to 100M THB.
There is no other place in Thailand where there is so much choice at such good prices. That's also the reason why most foreigners have settled in the city.
Accommodation is available in stylish penthouses, small studios in the heart of the city, condo's with magnificent sea views and low priced rural properties.
Select the Location Carefully
Although there are many satisfied owners of spanking new condo's that are extremely happy with their choice of home, spare a thought for the people who have chosen incorrectly and have been lumbered with a property they simply do not want.
Before you make a purchase watch the neighbourhood closely for potential noise pollution, traffic problems, the amenities and the proximity to your favourite places and getaways.
Take your time with the decision, buying a condo is one of the most expensive things you will have to do in your life. Perhaps rent first, and talk to the neighbours, shopkeepers and locals. Find out should you be buying or renting.
The property market is famous for being fickle, areas once famous for giving massive paybacks and good investments suddenly become less popular and resale becomes harder.
While a number of buyers have made great profits by selling their properties in and around Pattaya, quite a few of the unhappier ones are sitting on their houses for years and just cannot sell them for a reasonable price.
Do your homework responsibly and carefully, keep an eye on public transportation changes to your area. Do you now need access to buses and trains and are you prepared to drive a car.
Can your friends reach you easily? Are there main roads and highways in easy reach of your property?
Whether it is the right time to buy depends on a variety of factors; Personal finance, rational and emotional reasons. It is only you that can ultimately make the correct or incorrect decision.
2016 is for some a good buyer's market, because of the slowdown of the property market as a whole in Thailand and Pattaya in particular great bargains can be achieved.
It is true that the Russian market is really tough at the moment; however, new markets have arisen such as the Chinese and Thai Nationals. So buying now and holding on to your investment could be a profitable situation.
For the best real estate advice in Pattaya, think Seaboard Properties. If you are looking to buy a condo in Pattaya, then why not contact our friendly team today!