Advantages of Buying a Presale Condo in Thailand
Real estate is a lucrative business wherever you go.
Everybody needs a home. Thailand is no different. The rules for foreigners may vary since they are not allowed to buy land. The best choice for a person looking to buy a property is a pre-sale condo. A condo is an excellent living space and it is in high demand in Thailand. If you can get yourself a pre-sale condo, you will have a lot to look forward to in the future.
Since you are buying the condo before its construction, you may have to wait for a while.
For those who are patient enough, you may get the following advantages over those who choose to buy ready-made condos:
For those who would prefer to save up for their condo, this is more than possible. Since there is no pressure to complete sales and the condo does still need building, the owners won’t be in a very big hurry to collect their payments. You can pay in small increments until you get your very own condo.
If you are planning to live in it, all the better for you since you can plan accordingly and this gives you time to get your affairs in order.
Pre-sale condos are decidedly cheap when it comes down to it. As the building continues to be constructed, the condo prices go up. When the building is complete, the condos will be at their highest rates. This is the best choice as an investment, especially if you are planning to rent out or sell said condo.
You will be able to make your money back and then some if you rent or sell it when the building is complete.
If you are a foreigner and a new landlord to boot, you may not be very familiar with the customs of Thailand with regards to a tenant. This gives you a big advantage when you are buying a pre-sale condo. You can get used to the country and owning a property not to mention not having to maintain the building for a long time yet.
If you are going to own a property, you want to make sure you do it right.
Sometimes life happens and it turns out you can’t go to Thailand and live there or rent out your property. Not to worry. Your pre-sale condo could be just the investment you are looking for. Once you get the unit, after it is completed, its price goes up. This way, you get your money back and more without necessarily annoying the land owner.
In any case, they may still allow you to back out of the sale while the building is in construction but patience does pay in the end.
Since you already have somewhere to live when you go to Thailand, you won’t have to go through the hassles of dealing with real estate agents and finding the right property for you. Maintenance costs will be yours, this is true, but you will have your very own space to call home.
This is especially advantageous for anyone who chooses to live in Thailand or a frequent traveler to Thailand.