Mistake 1. Purchase without understanding further exit from the object
Many people are thinking about how to buy an apartment or a house in Thailand at the start of construction for resale. But not everyone is asking themselves how the object will be sold in the future. To understand, you need to answer a few questions. Who is its potential buyer after commissioning? How clear is the format to the next owner? These points are especially important for investors, but they are often remembered after the transaction.
Mistake 2. Belief in "special" discounts
The price of an apartment from the developer and the agent is the same. It is fixed and formed in advance. Substantial discounts without a clear explanation are most often associated either with an illiquid object or with an attempt to create the illusion of benefit. There are discounts in the Thai market, but they are limited and always have a specific basis.
Mistake 3. Underestimating the support after signing the contract
Reserving an object is far from the last stage of buying an apartment in Phuket or in another region of Thailand. This is followed by payments, transfers, schedule changes, interaction with the developer, and receipt of documents. If the agency does not explain what happens after the transaction and who accompanies the process, the buyer is left alone with the formalities. In international transactions, this almost always leads to unnecessary expenses and loss of time.
Error 4. Misunderstanding the ownership format
A foreign citizen can take ownership of an apartment in a condominium in compliance with the established share of foreigners in the project. This is stipulated by law. And proposals to arrange real estate through complex schemes, denominations or intermediaries often have no legal justification. Before signing the documents, it is important to understand what type of right is being registered and on what grounds.
Mistake 5. The belief that more expensive means better
The cost of an apartment or villa in Thailand depends on many factors. These are the floor, the view, the orientation, the infrastructure of the project, the construction stage and much more. The difference in price between objects of the same size can be significant. And often it is not related to the real benefits. The first option you like is not always a successful purchase. Comparing several projects with different characteristics will allow you to make an informed decision.
Mistake 6. Being tempted by a "hot" offer with a huge discount
Ads with prices twice as low as the market look attractive. But such offers are rarely really profitable. Most often, these are problematic projects, difficult conditions, or facilities with limited liquidity.
Mistake 7. Fear of remote purchase
Buying property in Thailand without a personal visit has long been a common practice. The online format allows you to study projects, layouts, types, documents and stages of construction. The risk arises not because of the remote format, but because of the lack of transparency. Photos, videos, plans, contracts, and answers to questions are available before making a decision.
Mistake 8. Impulsive approach to investments
If an apartment is considered not only for living, but also as an asset, emotional decisions begin to interfere. Profitability depends on the location, demand, the developer and the future environment of the project. Without analyzing these factors, an investment purchase often loses its meaning after a few years.
The Prime People approach
Thailand's real estate market is saturated with offers. The external simplicity often hides non-obvious risks and pressure on the buyer. Prime People works differently. The priority is the client's interest, even if it means rejecting the deal. This approach eliminates the risk of errors and allows you to make the most profitable decisions.
