There comes a period in everyone’s life when it is time to start looking to buy your first property, and it is both exciting and daunting to commit a large amount of your hard-earned funds to one item. I hope to give you some great information so you can enter the property world with the tools you need to succeed. Whether your desired target is a condo for sale in Sukhumvit or a townhouse in Sathorn, you will have the confidence to secure your dream home.
Always Have a Strategy Plan in Place
Having decided now is the right time for you to buy, it is vitally important to identify what exactly you want in your first property and establish both what it must have and what also might be desirable but not essential. Once you have done this, go through the same process with the areas of the city you might wish to live in, your workplace, family or nearby amenities could all factor into this decision. It is important to be realistic when deciding where to live and targeting properties within your budget. If you do not already have one appoint an experienced real estate attorney to guide you through the buying process.
Sort Out Your Financing
When setting out on your property buying journey, it is essential to have your financing in place; whether you are a cash buyer or are getting a mortgage, you should have these in place before any searching takes 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 target. Remember the additional fees involved when buying property; these can equate to up to five per cent of the property’s value.
Do Your Research Properly
With your plan and finance in place, you can start your property search for real, use well-rated estate agents and see what they have to offer and if looking at prospective homes, research the local area and its facilities. Draw up a shortlist of any properties that you might like to view and when viewing, take plenty of time to get a good idea of both the home and its locality. Making sure your attorney conducts all the proper title searches and an additional property survey is also a good idea to ensure you are fulfilling reasonable due diligence. If you are still happy, you can move forward into the negotiation stage.
By using these steps in your property journey, you are sure to succeed and secure the home of your dreams.