How to Acquire Real Estate in Thailand

0
780

With the changing of times, the global real estate market has also changed. These days more and more people are focusing on the Asian markets. The markets not only provide them with prime real estate but also helps them to earn a hefty profit.

If you also have a bit of extra money available with you, you should consider investing in a property in Thailand. You can either rent it to the locals, make it a holiday home or offer it to rent to tourists who are always looking for reasons to visit Thailand.

How to Buy Real Estate in Thailand?

Ø  Begin the Search

When you want to purchase real estate in Thailand, you should start by visiting a renowned website that allows you to explore different options. There is hardly a better way to find Thailand Real Estate at Thailandflat.com. The website has many awesome options that will appeal to you.

Ø  Don’t Pay Attention to Superlatives

Many people encounter superlatives like “award-winning” or “luxury” when they are hunting the right property. If you also come across these terms, we encourage you not to pay attention to them. Most people just buy these titles to enhance the worth of property in Thailand.  These titles say nothing about the build quality.

Ø  Ask the Right Questions

It is also essential to ask the right questions when you want to acquire real estate in Thailand. For instance, you should ask whether you will be provided the architectural drawings, whether you will get a building permit, whether the property has insulation or soundproofing and what type of building materials have been used, etc.

Ø  Know the Developer

As the number of fake developers is growing at an alarming rate in Thailand, you should spend some time in knowing the developer too. Ask about his or her experience as a developer, talk about the projects he or she has done in the past, request portfolio of past projects and ask to visit other construction sites of the same developer.

Also, make sure that a building is professionally sealed as there is a separate industry branch in Thailand that deals in covering moisture damage only. These things will help build trust and assure you that the developer you have chosen is right.

Ø  Decide the Timelines

When hoping to acquire real estate in Thailand, you should remember to set realistic timelines for construction. If you keep the construction timeframe too low, the quality may be compromised. In contrast, if you keep it too high, you may have to wait a lot to get possession of the real estate. Be smart and choose a middle path.

Ø  Get Everything in Writing

Even when you think that you know the developer and can trust him or her, we urge you to get everything in writing. If for some reason, you have to approach a court regarding the real estate, only what’s written in the contract will be valuable, the words spoken to you might not hold any weight.