Pattaya Condo Purchase | 6 Questions To Ask Yourself Before Buying
Before spending a substantial amount of your hard earned money to purchase a condominium in Pattaya, there are a few things you need to ask yourself in order to make sure you make the right type of investment. Here are some relevant questions you should ask yourself in order to better grasp the situation:
Why am I buying a condo?
This question is meant to make you understand the reasons for what you are about to do. Some people have the tendency of buying things without cause. Buying a condo in Pattaya however, is not something you do on impulse like buying clothes. There are two main reasons to buy a condo. One is as an investment and the other as the place to call home so make sure you understand the cause of purchase.
Does the condo meet my needs?
Once you decide on why you want a condo, the next question should be if the prospective condo meets your intentions for it. This is in respect to an investment, a home or vacation home. If it is an investment, will it match the needs of tenants? If it’s a home, do you see yourself living there for a long time or will you need to move later? If it’s a condo for vacation getaways, will it provide the experience you’re looking for?
Do I understand the terms of ownership?
Purchasing a condominium in Pattaya is regulated by various Thai rules and regulations. Especially for a foreigner, it is important to ask this question and even more important to have a viable answer. This is because if you do not understand the terms, you can be making a poor investment and be stressed out by the process.
Is it a good investment?
The Pattaya condominium should surpass your criterion for any investment you make. Since this is real estate, the rate of appreciation should come into consideration as well as the current state and future possibilities of the market.
Is the price reasonable?
Condominiums in Pattaya go for varying prices based on location, size and features among many other factors. By questioning the quoted price, you are entitled to have an independent valuation of the property so as to avoid paying for an overpriced condo for sale in Pattaya. Do not buy a condo without a rough idea of its actual value as this is the trick most developers use to squeeze more money out of prospective buyers.
What other costs will I encounter?
After buying the condominium, can you afford the tax levied on it? What are the maintenance costs that come with it and who is liable for repairs? Some people end up buying condos only to realise the tax being levied is too high for them. For others, the maintenance costs may be charged monthly or annually so make sure you know the hidden costs.
By asking yourself these questions, you will be able to make a wise financial decision as well as get a Pattaya condo for sale that matches your idea of an ideal home.