Pattaya condo sales are at an all-time high nowadays, and with good reason. The island is located in Thailand, a few rides away from Bangkok. Its surrounded by beautiful beaches. The city is a popular destination for tourists. Many retirees choose to settle down in the area, because of the right mix of relaxing ambience and comforting city life.
The city gets hundreds of thousands of visitors per year. This makes any property a high-valued commodity in the area. Condos could be a great investment for individuals who are seeking a long-term, passive income generator. If you’re thinking of buying real estate in the area, here are a few tips:
Start with a budget.
Its always wise to set a spending limit, especially when it comes to buying real estate properties. Although units can be bought with cash, individuals rarely take this option as it takes too much of a toll on finances. Most opt for a monthly payment option, after an initial down payment. This spreads out the bulk of the amount into easy to pay instalments.
A lot of people make the mistake of only considering the total value of the property. What they don’t realise is that the total cost of monthly payments needs to be financially feasible with regards to your income. Don’t make the mistake of getting a payment plan that isn’t sustainable. When setting a budget, make sure you take every detail into consideration.
Make a plan.
What type of tenants are you planning to lease to? This will be an important consideration, especially when its time to look at locations for the unit. This will also come in handy when deciding how much floor space you need for the apartment. If you plan to rent to families, you’ll need a bigger unit. However, if your targeting singletons, smaller units will do.
Hire a good realtor.
A good realtor can do wonders for your opportunities in real estate. They can narrow down your search based on the type of property you need. You no longer have to waste time looking at condos that don’t fit the bill. And the best part: they can get you the best price possible.
Learn more about condo sales from Thompsons Pattaya.