Property buying tips in Koh Samui
In Koh Samui it is important to check out the property market, before spending your money. Check out these tips to avoid the pitfalls when considering purchasing a property in Koh Samui.
1. Prepare a checklist
Make sure you have one close by. It is important to have everything to hand. Especially true for first time buyers, but even if you are experienced at buying property in Thailand.
2. Use an experienced lawyer
Whilst buying property in your home country is difficult sometimes. Purchasing in Koh Samui can be a straightforward process. It does not have to be difficult if you plan ahead and research the property market. Use a reputable lawyer, there are many on Koh Samui. Seek recommendations of whom to appoint and check their pedigree.
3. Think about your budget
Always calculate the full costs of ownership and add 10% for good measure on top of the purchase price. Make sure you ask about any hidden costs. Always check the transfer fees, legal fees and any other maintenance costs for owing the property. If you are buying by instalments, make sure you have adequate funds to make all the payments. In this way you will be prepared and financially secure.
4. Make sure you understand the market
In Koh Samui there are some popular areas to buy property, and then other areas that do not attract interest. It is important to understand which areas have the greatest potential for resale, and growth in prices. Since you are buying not only as a lifestyle choice but also as a sound investment. It is essential investigate price trends in a location so you will know what to buy and where to buy.
5. Ask the experts
When searching for property, check out the Internet for agents in the local area that interests you. When you do not know the market, professional real estate agents are worth their weight in gold. If you are considering buying privately, still ask advice from the local estate agent. Use their services and explore the Island with more than one of them. You can generally work out the professional and qualified agents and find one that offers good impartial advice.
6. Location is the key
Check out areas carefully – buying is easy but if you get the location wrong selling can be very difficult. Popular areas for investment in property are the North East coast. Locations such as Cheong Mon, Bophut, Maenam, Chaweng Noi, Chaweng and Plai Laem are very popular due to their proximity to services and facilities. These areas are all close to supermarkets, restaurants, bars and shopping. With many families relocating to Koh Samui, there are also international schools and healthcare options close by.