Buying property in a large city is often a difficult and stressful endeavour, especially if you are moving into the city for the first time. The commitment of a large amount of hard-earned funds can set off many different thoughts and feelings during the search and purchasing process. This short article aims to give you some great information so you can enter the property market confident that you know what you want and how to get it. So, whether your prospective new home is an apartment, condo or townhouse, or house for sale, Bangkok should have a property where you will spend many happy years.
Plan Your Property Search
Once you have decided it is the right time for you to buy, it is important to identify what you want in your new home, establishing both what it must have and what also might be desirable but not essential. When you have done this, go through the same process with the areas of the city you wish to live; your workplace, family or nearby amenities could all factor into this decision. Be realistic when deciding where you want to live; there is no point in targeting properties or areas that are obviously outside of your budget. Appoint an experienced real estate attorney to guide you through the buying process and deal with the paperwork involved.
Confirm Your Spending Power
It is essential to have your financing in place prior to starting your search; whether you are a cash buyer or are getting a mortgage, you should have these in place. If you require a mortgage speaking with your bank and identifying your lending power is a great start, as it will define what properties you can then look to target. Do not forget about the contractual fees involved when buying property. These can equate to up to five per cent of the property’s value.
Research, Research, Research
With your search plan and financing in place, you can start your property search, use well-rated estate agents, and see what they offer. If looking at prospective homes, research the surrounding area and the local facilities. Draw up a shortlist of any properties that you might like to view and when viewing, take plenty of time to get a proper idea of both the home and its locality. Make sure your attorney conducts all the proper surveys and searches to make sure there are no nasty surprises after you have moved in. If all is okay, you can then enter the negotiation stage to secure your new home.
By following these basic tips, you can take on the big city property market and win the home you have always wanted.