‘Property investment’ has come a long way in Thailand. Once seen as just one option for investing money, now houses are being bought with the intention of renting them out to generate income. As houses have become more expensive, many have realized that having a house for sale in Pattaya is no longer an option only available to those who could afford it, but this does not mean they are not willing to try their hand at property investment. If you are thinking about getting involved in property investment in Thailand, here are 10 things you should know before starting your search:
Pattaya houses for sale
1) There are different types of houses being offered
Real estate agents will give you plenty of advice when house hunting – some good and some bad! The houses currently being offered through agents will vary from houses that are practically built and just need finishing touches, houses needing some renovation work before renting them out, houses on land waiting for planning permission to be granted so they can be developed, as well as houses previously used as holiday homes or long-term rental properties. There is a lot of choices available, but the first step is finding the right type of house to suit your budget and goals.
2) Houses for sale in Pattaya vary in price
Since the financial crisis hit Thailand a few years ago prices have been more realistic than they have been for a number of years. This means that making money on these houses has become easier because you do not have to spend as much money upfront, but the houses still vary considerably in price. The houses for sale in Pattaya can range from a few hundred thousand baht to several million depending on location, condition, and size. It is worth finding out how much profit you will make on your house before investing any money as it is possible to spend a lot of time searching for houses only to find they do not actually make back the money you spent buying them!
3) Before looking at houses you must understand where Thailand currently is
The country has seen some huge changes over the last 7 years or so, with political unrest plaguing Bangkok and military coups shaking up leadership. This means that it’s difficult to predict what will happen next, but also means that there are opportunities for those who are willing to be flexible.
4) There is a demand for houses from both locals and foreigners
As Thailand has been growing as a tourist destination it has been necessary to build more areas for holiday homes, including houses for sale in Pattaya. This means that they can also be a popular choice with those looking to retire or simply start a new life abroad. There is enough demand from both these groups of people that houses never stay on the market long, especially if they’re located somewhere beautiful like Pattaya. Some houses will only have one owner their entire life, which means you need to move quickly if you want your offer accepted!
5) You can often see houses before buying them
This may not sound important, but it’s important to see houses before making an offer. A house will only ever be sold once, so there is no second chance if you do not like it once it’s yours! This means that you must really take your time looking at houses for sale in Pattaya – check them out inside and out, look for any damage or signs of wear, speak to the neighbors if possible, ask questions about nearby amenities, etc.
6) Villas can make great houses for sale in Pattaya
Many houses are built on land with several houses already present, but some houses are built together as one single block. These houses are usually villas that have been divided up into smaller units. As these villas were all originally made with holidaymakers in mind, many houses for sale in Pattaya are of this design. Not only is it more private than houses with neighbors and better suited for busy lives and families, but the houses tend to be larger due to having less space between them.
7) There can be great houses for sale in Thailand
It’s also important to remember that these houses will not always be small and cheap – there will often be houses that cost millions of baht which could potentially make you a huge profit when sold on! As long as you know what you’re doing, houses can actually provide a great way to earn money from investing abroad while living in Thailand yourself.
8) Land is often cheaper than houses
Land can be one of the cheapest investments you ever make. You can buy land without having to pay any sort of registration fee, making it an affordable way to invest in Thailand. Many houses are being built on previously unused land which has been developed slowly over the years, so there is no need for you to worry about houses not selling – there will always be houses for sale in Pattaya if that’s what people want!
9) There are some houses which are more expensive than they first look
It’s important t understand that houses are different from country to country, but houses for sale in Thailand are often designed with lots of open space around them. This makes houses appear smaller than they actually are because gardens take up a lot of room and make houses seem further apart than they actually are.Houses for sale in Thailand are often surrounded by greenery which means houses with 4 or more bedrooms can feel like houses with 2 or 3 bedrooms.
10) Houses for sale in Thailand are far cheaper than houses back home
Property prices will differ depending on the actual houses of course, but houses for sale in Pattaya tend to be less expensive than houses back home. This makes it easier for foreigners to afford properties that would normally be out of their price bracket! It’s important to remember that houses themselves may not be as cheap as they first appear though – many locals still prefer condos over houses and expect you to pay the full asking price. If you’re willing to haggle then you can get even better deals on either condos or houses, just remember that houses are likely to have more space than condos.
Even if you’re not interested in houses for sale in Pattaya, it’s important to understand the differences between houses and condos – this will give you a better idea of how houses are different from condos, which can help you later down the line when purchasing your own home!