Are you thinking of buying or renting a condominium in Bangkok? Then you really should read up everything we’ve got to say in this post before you make the costly mistakes that many people often fall prey to. Based on years of experience in real estate the following are the top 5 mistakes people make when buying a condo or house in Bangkok.
1. Choosing The Wrong Condo/House Size: This is perhaps the most common mistake people often make. This is because buyers often make the mistake of going for portable or smaller housing units which would not be convenient for their needs in the nearest future. If you intend to buy a condo or house right now, think of where and what you’ll be doing in the next 3, 5 years to come. By then, your family and needs may have changed and increased. So, do not make the mistake of buying a condo or house that would become too small for your needs in the nearest future.
2. Leaving The Decision To Your Real Estate Agent: Yes, the best thing is to hire a real estate agent as they are professionals. However, their duty should not exceed advising you regarding the pros and cons of the house you intend to buy. While you may trust your real estate agent, you shouldn’t entrust them with deciding for you because after all, for them, it is business, but for you – it is going to be home. Take the final decision yourself!
3. Waiting For The Right Opportunity To Buy Your Dream Home: I did it in the past and I regretted it. One of the biggest mistakes you’ll be making is to keep waiting for the right opportunity to buy that dream home or condo. Many often wait for the time when the price of their dream home would come crash when the reality is that it is rare for real estate prices to fall. Don’t make that mistake, buy now!
4. If You Have A Budget Limit, Stick To It! One of the things you’ll experience in your quest to buy a good condo/house in Bangkok is that you’ll come across silver-tongued real estate agents. If you are not careful, you would end up paying and spending more than your initial budget. Never let real estate agents sweet talk you into spending more than your budget limit. Stick to your budget, otherwise, you may regret it later.
5. Scrutinize Every Part Of Your House And Its Location: Though last on this checklist but not the least mistake buyers often make, you should ensure that you scrutinize every aspect of your house to ensure that everything is in a good state. Corollary to this is that you should ensure that the location of your condo or house is convenient and suitable for your needs. Some things to consider are access to transportation and shopping malls. Never make the mistake of paying for a house without first assessing the unit.