No matter whether you are a first-time buyer looking for their first home or an experienced commercial property buyer looking to expand their business portfolio, it is always best practice to follow some tried and tested steps during the process. We will look at some helpful tips regardless of whether you are looking to buy an apartment in Bangkok or are targeting land for sale in Phuket with a view to developing it.
1, Plan Your Purchase – adopt a suitable strategy with a realistic goal in mind; there is no point chasing a new home or prized piece of land that is outside of your budget or business plan.
2, Have Your Financing in Place – whether you are a cash buyer or are organising financing with your bank, know your budget and be ready to strike if the right property comes your way.
3, Appoint an Experienced Attorney – If you don’t already have one appoint an experienced and well-versed lawyer to handle your purchase; if you don’t know one, ask friends or relatives for a recommendation.
4, Use A Good Estate Agent – By choosing reputable estate agents, you will eliminate any misinformation often found on the internet, and it is often the case that the better agents will have better properties.
5, Draw Up a Shortlist – Don’t become transfixed by a single property or piece of land; very few buyers only look at one home or development; view as many as possible as some may surprise you.
6, Do Your Research – Understand the location where you are looking to purchase, consider nearby facilities, traffic, ambience, and the possibility of any future development affecting property prices.
6, Visit If Possible – this is especially important and a must for home buyers; look for any flaws or damage that might affect the value or dismiss it from your shortlist of possibilities.
7, Understand the Additional Costs – Always consider the additional fees you will need to pay on top of the purchase price; taxes and attorney fees will all need paying.
8, Unlock the Property’s Potential – Be aware of what you can do to the prospective property or piece of land, some homes may look rundown, but with a bit of work and investment, you might well increase its value substantially.
Following these steps during your purchase will give you a good chance to secure the property you have always wanted. Good luck on your purchasing journey.