Advantages of Buying a Pre-sale Condo in Thailand

As a foreigner, if you want to purchase property in Thailand the easiest option is to buy an apartment. It is possible to buy a house in Thailand, however, there are several regulations that prevent foreigners from buying land directly in their own name. Yet, buying a condo is a simple and legal procedure.

Here in Pattaya, Thailand, there are a lot of new condo developments being launched so there is a plethora of condos to choose from. You should take your time to find the most suitable condo from these options.

If you have seen all the developments available to you and you still cannot find the perfect property, then you can look into buying a pre-sale apartment. This option has a few buyers’ advantages.

 Buying an apartment (for self-occupation or for rent) depends on how much time you have and what your long-term investment  strategy is, you have to consider the purchase of apartments that are not yet built.

 The benefits of purchasing a pre-sale apartment can give you the following:

 Lower Net Cost
 One of the biggest advantages of buying a pre-sale apartment is that you can save a lot of money. Upon completion, the apartment  prices will rise. They gradually increase in value during construction and then they reach their premium once the condo development  has construction has finished. Buying in the pre-sale condo phase, allows you to use a variety of promotions and sometimes you  can buy two adjacent units and combine them to make one.
 If you want to buy a lot of condo properties to become a landlord and you can have the patience to wait until the apartments have  been completed, it will save you a very considerable amount of money if you buy pre-sale. If you wait until after construction of a  project development has finished before you try to buy an entire floor, it will be much more expensive. You will, of course, need  some capital for your initial investment in pre-sale property, in order for you to pay for the condos to be built. But most developers  offer very attractive payment plans and once you start to rent the property to tenants, the return on investment will be multiplied.

Custom Design

If you really want to buy an apartments for yourself to live in, but you have not quite found the home of your dreams, the pre-sale option offers you more flexibility. As a buyer, you can customize the apartment to perfectly suit your tastes. Few people can say, "I love the layout of this condo, but I want to choose my own bathroom tiles,” etc. If you want to replace or change something to suit your own choice, you can request these things before the condo has been built and finished.

Payments 
Developers of pre-sale projects usually offer competitive payment plans and many are tailored to suit the buyer’s requirements. So, not only are you able to purchase property at an affordable price, but also pay over a period of time. Typically, developers are eager to obtain sales contracts at this stage, therefore allowing you to pay in installments, instead of paying a lump sum at one time.

 Low Maintenance - Low Maintenance Costs
 Like a car, you do not buy a new apartment as often as you buy a new pair of shoes, but things do have wear and tear. If you buy  a house  or apartment and you don’t live in it for some time, the house may need some renovation before you can rent it to  tenants. Old buildings  have old structure and are often damaged by the wind and rain. The biggest advantage of buying a pre-  sale property is that you do not  need to consider renovation or repairs before you start to make money. The building is brand  new with modern structure and fittings, so the only thing you need to think about is becoming a landlord and getting some of  your money back.

 In Thailand there are many pre-sale apartments available there are some promising new developments. Contact  us at Coastal Real Estate Pattaya to find out what properties are up and coming in Thailand.