Your guide to avoiding regrets and enjoy home or investment in Bangkok!
Which district should you live or invest in?
There's a few popular district you could look into, Nana, Asoke, Rama9, Silom..
Bangkok is a very big city!
Of course the excitement of settling down in the city to start exploring may seem tempting, but you should actually wait for awhile before choosing a condo or a house to live in. A big mistake many first time mover made is settling on the first good deals they found.
And even though the place you found might have seem to be too good to be true, but you could find after you signed the one year lease that they are better condo for a cheaper price somewhere else. Well remember there are several great deals out there, and you don't have to rush on it.
In contrast to Chiang Mai, securing a lease for less than six months is uncommon in Bangkok, where one-year and six-month leases are predominant.
However, the search for an ideal settlement isn't confined to merely a week of online browsing; it necessitates about ten days of firsthand experience in the area. This is why we recommend staying in an Airbnb for a month to thoroughly gauge its suitability.
There are 3 things to consider when looking for a condo, they are:
Location! Accessibility! and the Price!
Location:
Can you easily get a taxi from your home? Are near any main road or near any BTS? and how long you need tot take to walk to the nearest BTS? Depending on what you are living in Thailand for? Whether you are a long term tourist? Business or retirement?
You need to be very aware of the surrounding area because you wouldn't want to live in a area that you are hours away from the BTS station or main road. If you need to go out often then it is not so convenient for you.
Well, sure you can always book a grab, but the cost of the grab may adds up to your expenses. imagine you book a grab everyday then you would be spending a lot on just the transport at the end of the month. But if you want to save the money and just walk, you could get a location that is at max 30 mins walk distance rom your home to the nearest BTS station or main road.
Another tip for anyone who is planning to retire in Thailand:
Here in Bangkok there's a significantly heavy traffic, and you don't want to spend a lot of time travelling to and from places that you visit everyday. So choose a condo close to places that you would visit on a daily basis. In terms of availability, in Bangkok it is a rental market. Means, it is a good idea to invest in Thailand properties as well as own your first holiday home here too!
Accessibility:
Depending on your age and your body ability, you need to take into consideration the type of home you live in. Whether you are heading into the retirement or you have elderly with you, getting a condo with no elevator or with too many stairs can put a strain on your body.
And for those who are in need of handicap assistant, you should look for a place that can accommodate the size of your equipment and also the appliances are cater to handicap friendly usage as well.
Price:
The thing about condominium in Bangkok are shockingly CHEAP! But you should always only spend 25% or less of your monthly income. You may feel great to have 3 bedroom, high quality condo but if you take up a large portion of your salary, it might make you think its too tight, you know incase of emergency you may need those money. And if you happen to chance upon a condo that is too good to be true, you need to do your research and some ground work in person.
And after considering the above elements, and you had spent some time in the city, then you will be able to make a better decision on which condo is right for you.
All of this though may take a lot of time and researching and so if finding the RIGHT condo is tedious for you? You may look for me, I would love to assist you and get your dream home in Thailand!
Here are some intriguing details about Thailand and reasons why it's a location worth considering for retirement or investment:
Case Study:
Wei's Journey to Purchasing a Condo in Bangkok
Background:
Wei, a Singaporean resident, had always been fascinated by the idea of owning property abroad. After years of saving and careful consideration, he decided to explore real estate opportunities in Bangkok, Thailand. With its dynamic economy, vibrant culture, and attractive investment potential, Bangkok emerged as Wei's preferred destination for property investment.
Research and Planning:
Then Wei began his journey by conducting research on the Bangkok property market. He utilized online resources, real estate platforms, and market reports to gain insights into property trends, neighborhood dynamics, and pricing patterns. Wei also sought advice from friends and colleagues who had experience in international real estate investment.
Here are some website you could search for property listing in Thailand:
Setting Criteria:
Based on his research findings and personal preferences, Wei established clear criteria for his condo purchase. He prioritized factors such as location, accessibility, amenities, and potential for rental income. Wei also considered his budget constraints and financial goals when narrowing down his options.
Engaging a Real Estate Agent:
Recognizing the complexity of navigating a foreign real estate market, Wei decided to enlist the services of a reputable local real estate agent. He sought recommendations from trusted sources and selected an agent with extensive knowledge of the Bangkok property landscape. The agent provided invaluable guidance, offering insights into different neighborhoods, property developments, and legal procedures.
Property Visits and Evaluation:
Accompanied by his agent, Wei embarked on a series of property viewings across various districts of Bangkok. They visited multiple condos, meticulously inspecting each property's features, condition, and surroundings. Wei paid particular attention to factors such as proximity to transportation hubs, quality of construction, availability of amenities, and potential for capital appreciation.
Decision Making and Negotiation:
After careful evaluation, Wei identified a condo in Sukhumvit, one of Bangkok's most sought-after neighborhoods, as his preferred choice. The property offered a prime location, modern amenities, and strong rental potential. With guidance from his agent, Wei engaged in negotiations with the seller to secure a favorable deal. He leveraged his agent's expertise to navigate the negotiation process, ensuring that his interests were protected.
Legal Due Diligence:
Before proceeding with the purchase, Wei engaged a legal advisor specializing in Thai real estate law to conduct thorough due diligence. The legal expert reviewed the property's documentation, including title deeds, contracts, and ownership history, to ensure transparency and legality. Wei understood the importance of mitigating legal risks and sought comprehensive legal guidance to safeguard his investment.
Closing the Deal:
With all due diligence completed and negotiations finalized, Wei proceeded to finalize the purchase of the condo. He signed the sales agreement, transferred the necessary funds, and completed the legal formalities required for property ownership in Thailand. Wei received the keys to his new condo, marking the successful culmination of his journey to homeownership in Bangkok.
Post-Purchase Experience:
Following the acquisition, Wei continued to maintain a close relationship with his real estate agent, who provided ongoing support with property management and market insights. Wei monitored the rental market closely and explored opportunities to generate passive income from his condo investment. He also enjoyed spending time in Bangkok, immersing himself in the city's vibrant culture, culinary scene, and lifestyle offerings.
Outcome:
Wei's decision to purchase a condo in Bangkok proved to be a rewarding investment endeavor. Not only did he achieve his goal of owning property abroad, but he also acquired a valuable asset with significant potential for appreciation and income generation. Through careful research, strategic planning, and professional guidance, Wei successfully navigated the complexities of the Bangkok real estate market and secured a property that aligned with his financial objectives and lifestyle aspirations. As he looked ahead to the future, Wei remained optimistic about the long-term prospects of his investment and continued to explore opportunities for growth and diversification in the dynamic real estate landscape of Bangkok.
Are you considering investing in property abroad like Wei did?
Whether you're looking for a vacation home, rental investment, or retirement haven, Bangkok offers a plethora of opportunities.
Get started on your own property journey by researching the Bangkok real estate market, setting clear investment goals, and seeking expert guidance from local real estate professionals.
With careful planning and due diligence, you too can fulfill your dreams of owning property in this vibrant and dynamic city.
We've compiled a selection of condominiums ready for viewing and purchase. Keep an eye on our Thailand Property Tab, it'll be up soon, so stay tuned!
Alternatively, for a prompt response, reach out to us at +65 8282 7210.
Thank you!