Top Four Tips to Take on the Thai Property Ladder
A Little Research Preparation
To secure a foothold on the Thai property ladder a little research before and during the process will reap dividends that are too long to list fully. If the customer is outside the Kingdom of Thailand much of the research can be initiated outside the country in preparation for a visit.
Many people are unfamiliar with broadening their search terms or parameters so that a different set of results emerges. Many sellers these days are using videos to promote their property and so a video search is an essential element of the process, which is in a separate category of search of Google on its own. In addition to video searches the buyer would do well to include ‘news’ searches and bulletin board searches.
Each of these search methodologies can contribute a wealth of information that is invisible to the user who insists on using the plain vanilla search function in Google or whatever search engine they are currently employing.
Digital Social Networks
The power of social media continues to escalate on a daily basis all-round the planet. We recommend strongly to tell people what your plans are on Facebook, Twitter and Google +. There’s no harm in asking around for Thai properties on both your digital social networks and even your real life networks for recommendations, observations and local intelligence.
Friends of friends may already be on the Thai property ladder. In the hunt for the perfect property, even secondary social network recommendations are a more robust source of information than seeking information blind from people we’ve never interacted with before.
It’s All about Location
The best piece of advice in the property game is to limit the number of searches through a clear location and price strategy. This time saving process for finding an appropriate Thai house or Condominium narrows down the field and keeps the international buyer focussed.
Sometimes the temptation to view properties that are outside our intended geographical area because of a super low price are too seductive to ignore, but in the long run a strict location and price parameter will make the search and sale more satisfying as the intent has been set from the outset. Properties in Thailand are invariably less homogeneous than in other countries.
The choice of close-to-shore condominiums or beach side properties provides alluring alternatives to the traditional city offering of houses and condominiums.
Buy a Property and Letting it
Many international clients including Chinese, Russians, Europeans and Americans intend to buy a second home in Thailand. Some of these customers neglect to think of the option of buying to let, or rent for shorter terms as a vacation home.
If the buyer intends to live in Thailand on a permanent basis there’s no need to explore this option, however if the buyer is here on a more temporary basis such as once or twice a year, it could well be financially advantageous, for the new Thai property owner to consider leasing or letting the property throughout the year.
Rental options can provide a healthy return on investment for a property that would otherwise be empty and doing nothing.