When purchasing a property often people make a number of basic mistakes and end up regretting their decisions. It often depends what you require from your purchase, but whatever that may be you will definitely want the investment to provide dividends in terms of ROI and general increase in income. If wish to buy to rent, then the criteria may be slightly different than if you wish to buy to sell. This criteria should be put into consideration before making your final choice to purchase. This will include the amount of time it will take to get returns on investment as well as how long it will take for you to earn back the initial investment capital used to first purchase the condo.
Firstly do your homework on the purchasing price, pay the going rate for your condo at the current market prices. If you are planning to buy to sell, the initial price you pay will be the overall decision maker. If you cannot make a profit in a few years hence then often it is because you bought at the wrong price. Especially if you take into consideration factors such as depreciation and repairs. Don’t assume that the property will automatically increase in value, do your research on the Pattaya locality and market. You must also understand the whole Thailand real estate market and the forecasts for future sale. If you are buying to rent, ensure you are up to speed on any tax implications. Buyers sometimes forget this issue and do not add it into their revenue implications.
The following factors will all contribute to a gain in profits if you are buying to sell or buying to rent. Choose The Right Developer This may sound obvious but choosing the right developer is crucial in property purchasing. Always go with a recognised and a long established company. If a developer has several developments under their belt then it is a good guess that they are doing something correct. The Global Top Group have many successful developments with a high percentage of units sold. This indicates that clients are happy and the company can continue to grow and fund itself. Good property developers such as the Global Top Group get their reputations for build quality and selecting of the upcoming and most desireable areas. Choose the Correct Location Location, Location, Location are the three golden rules of property selection in real estate. Ensure your purchase is in the best possible and most desireable location. Are there local transport connections nearby? Are there all the amenities that will be required? Are there good schools, hospitals, etc. close by? Does the condominium development have high occupancy rate, if not it might not yield the expected returns, so it is essential to choose a condo for sale in Pattaya that is located in a good neighbourhood which has a high occupancy rate. Even in a depressed market climate, if you do your research correctly then it is the perfect time to purchase.