Thailand is a beautiful country with a growing economy. I am half Thai and half Indian and grew up in the Bronx. I am fluent in English, Thai, and Tamil, so when I had the chance to immigrate to Thailand to become an English teacher, I took it.
Thailand is also known as Siam and the Land of Smiles. If you’re thinking of moving or immigrating here, you’ve found the right blog to learn more about it. Without further ado, let’s dive into this blog and find out some of the things you need to know before you buy a home and emigrate to the land of smiles.
1. Be assisted by a real estate professional
In Thailand, as elsewhere, it is essential to seek the advice of a real estate professional if you want to avoid bad surprises. Whether it is for the purchase of ground, an apartment, or a house, a recognized real estate agent and experiment will be able to help you find the good of which you dream and with the best conditions.
A connoisseur of the real estate market and its specificities, they will advise you on the best projects of the moment and those to be avoided, the state of the market, or the town planning rules in force for a piece of land. As the interface between you and the seller, they will be of precious help in the selection of a property and the negotiations. Also, note that there are no agency fees to pay, so all the more reason to take advantage of our services.
2. To be assisted by a lawyer
In Thailand, there are no notaries. It is the lawyers who assist the customers during a real estate transaction. Buying a property in Thailand requires the assistance of a lawyer. In charge of the land audit of the property and the transfer of ownership, they will also be able to advise you on the terms and conditions of the sale contract.
In the case of a leasehold purchase, they will be able to assist you in the reading of the lease contract or the drafting of clauses that protect you. We work with a lawyer specializing in real estate: they will be there to advise you throughout your steps.
3. Beware of false bargains
“If an offer is too good to be true, it probably isn’t.” Beware of fraudulent offers! Some developers do not hesitate to offer attractive purchase conditions or above-average rental guarantees to make a sale. If a property is of good quality, bought at the right price, and in an area with high rental demand, you will have no problems renting or reselling it, and that is where the real guarantee lies.
4. Think about the manager
With the help of your real estate agent, check who manages the residence and what are the general conditions, the amount of the charges, and the future increases. For example, in Bangkok, some residences share units with a hotel group. It is, therefore, necessary to check the access to the common areas, the financial situation/cash flow, etc. But there again, no worries, your real estate agent will be to help you.
5. Cost of Living
Before thinking about emigrating to a country, the first question to ask yourself is whether you can afford to live there and what the cost of living is. If like me, you grew up in the north, specifically in New York, you will find that living in Thailand is much more affordable.
Although it is relatively cheap to live comfortably in Thailand, you should know that the country’s economy is booming, which is why more and more people are immigrating to Thailand. If you are looking for the cheapest alternative, you should look to the north of Thailand.
If you are looking to move to the capital city of Bangkok, you should know that life there is more expensive than in the rest of the country, but that is obvious if you live in a city. However, you will also make more money there, as this is where most of the successful businesses are located.
Before you start planning your move, you need to set a budget and look at the cost of living. The cost of living and where you will live depends on your lifestyle. I live in the capital because I grew up in a city, and that’s where I feel most at home. But where you live will depend on you and your budget.
6. Always think about the resale
It is well known that a good deal is made at the time of purchase. The location, the quality of the residence, the condition of the apartment, the view, the future buildings in the area, the access facilities, the shops or schools nearby, all these details will be decisive when renting or reselling your property.
Think about all these points before making your final decision to make your investment a success! Thailand is one of the most beautiful countries in the world and where one dreams of living! So that purchasing the house or apartment you want does not become a nightmare, it is enough for you to follow these simple rules.
Sound off in the comments section below and tell us what you want to read next and if you want to read more about buying a home and moving to Thailand.