As an expatriate, it can be daunting to know where to start when purchasing a property as a buy-to-let investment. You may not be familiar with areas, brand names or even developers in your chosen location.
Due to the appeal of owning a slice of Thai property, there is a rising number of developers who are all vying for your business. Whether you are buying off-plan or purchasing an already built property you should always carry out your due diligence first.
Should you be considering an off-plan purchase be wary of handing over a large initial deposit with a lesser-known developer. Some developers will only fund the build of the property with sales of the units which is a risky business model.
The larger developers will offer favourable payment options and will have the capital to hand to not solely be relying on presales providing peace of mind for your investment.
Fortunately, in Thailand, the leading developers already have an impressive property portfolio across all their brands. This makes it very easy to check their building quality and longevity of the property.
It is straightforward to visit any of their previous properties checking the communal areas including the lobby and facilities such as swimming pool, gym or gardens. If you can also visit a unit in the building too then this will help in assessing the developer’s track record. Even better still, speak with agents who should be able to give helpful insight on developers too.
As a buy-to-let investor, you want reassurance that your property will let well now and in the future for a healthy return. A property that lets well is one that is in a good location and that is well maintained and looked after.
Reputable developers have an impressive team backing the success of each building. They will do extensive research when cherry-picking a location for future projects to ensure its success. Plus they will build the right sort of property for that given location, such as a luxury property within an already prestigious area.
Remember developers have their name at stake, they will want to ensure a property’s longevity which will bode well for your investment too.
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