Bangkok is an exciting city, but it’s not easy to navigate for condo buyers. Buying a condo in Bangkok can be stressful, from comprehending costs to navigating bureaucratic channels. Here are five things to know before buying your ideal home.
1. Buy From A Trusted Developer.
It is the most critical thing to know while buying in Bangkok, especially if it’s your first time. You may trust a renowned developer’s track record and reputation in the location you want to buy. In addition, they’ll give greater relocation and support once you move into your new condo.
2. Read The Contract Carefully.
When investing in real estate, know the details. Know your duties, such as paying upkeep, repairs, and condo fees. Read carefully before signing.
3. Do Local Research
If you’re moving to Bangkok, ensure it’s safe and provides everything you need. Talking to locals is best. Friends, family, or coworkers can recommend good schools, businesses, and restaurants. Parks, libraries, and community centers may significantly impact living in Bangkok.
4. Hire A Lawyer Before Signing Anything.
You’re ready to buy a condo in Bangkok, so sign the dotted line. But is it that simple? Yes! A lawyer can help you through this procedure and ensure everything is legal and up to date. A skilled lawyer will do everything for you, so don’t worry. If your contract isn’t up-to-date, they won’t be able to check for outstanding debts against your property or hidden expenditures like stamp duty fees or registration costs.
The price depends on where you reside in Thailand, but most lawyers charge 5,000 baht (USD 150) per hour. Others may ask for an upfront payment based on how many hours they think they’ll spend on your case at 1,200 baht (USD 34). “The sooner they act after obtaining all evidence from both sides, the less overall expenses everyone incurs, including lawyers’ fees, etc.”
5. Consider A Mortgage.
If you buy a condo, a mortgage should be considered. Mortgages are bank loans that are repaid over time. It’s used to purchase property, pay for renovations, and buy cars.
There are two primary types of mortgages in Thailand:
Interest-only and Amortized (principal and interest or P&I). Most people choose P&I because they want to feel confident about their investment. Still, some prefer interest-only because it means smaller monthly payments for the first few years after investing.
You May Buy Property In Bangkok.
It’s excellent to live and work in Thailand, and you can buy property in Bangkok and elsewhere. It’s crucial to know your alternatives before purchasing an apartment or property. If you are willing to buy a condo on central rod street, like Charansanitwong road in Bangkok, then you should consider https://grandunity.co.th/th/ciela-charan-13-station, that will help you through.
- Condos are single-unit and multi-unit buildings.
- You can buy from the developer.
- You can purchase through an agency, too.
Buying a condo in Bangkok is a significant undertaking, so do your homework first. This information and the proper measures will help you find a more excellent property.