You are about to enter the next phase of adult life: buying a home. We know how excited millennial homebuyers are. It feels good having a property listed under your name or being your own landlord. This experience opens a new door to a completely different world. Before getting a new home, however, there are some things you need to remember (or pay attention to) to avoid regret or inconveniences in the future.Here are helpful tips for millennial home buyers:
1. Seek expert assistance
Since this is your first experience buying a home in Thailand, you may need to seek guidance from a broker throughout the buying process. Experienced Thai real estate brokers will provide you with professional knowledge that can help you acquire the perfect property. When negotiating, as a buyer you must know when to seal a deal or hold off any decision-making. Exhaust your options before jumping the gun to minimise regrets.
2. Allocate sufficient budget
Monitor the health of your finances. Do not purchase a Thai property unless you are completely ready to take on this new responsibility. Compare monthly costs with rental expenses and assess whether this is better in the long run than buying a home.If your savings are insufficient, you can scour banks or loaning companies for the ideal housing loan package. Make sure to choose a loan program that matches your ability to pay. Apply only if you qualify for the requirements.Your financial readiness is important. As a future homeowner, you also need to be aware that mortgage payments may compete with your other expenses. Note that real estate taxes, home insurance, home maintenance and a lot more shall challenge your allocated budget.
3. Choose wisely
You must have a clear idea of the type of home you want to purchase. Do you prefer a condo unit over a detached house or vice versa? How big should your property be? Will you be buying a home for yourself or for the family you might have in the future? Sort these out beforehand so you will have an easier time during the buying process.Choose your location well. Most of the time, people buy properties that are near their workplace. Such decisions were made to avoid going through heavy traffic every day.
4. Scrutinise the property before deciding
Take time for viewings. There are specific details that a photo simply cannot illustrate so it is important that you see the actual unit you are going to buy.Take photos of the properties that you visit. This will help you remember them when you decide which of the ones you visited suits you best.Check the view and surrounding area. Apart from the overall feel of the interior, it is also vital that the neighbourhood and the view from your house impart a vibrant atmosphere.
5. Shortlist your choices
Don’t confuse yourself with too many choices. Narrow down your list to less than 10 properties. There is a tendency to miss out on the good parts when you have too much to choose from.Hopefully, these tips have been useful. Start buying property in Thailand by visiting our homepage www.thailand-property.net.