One of the most obvious things most people don't think about is buying direct from the developer directly and not using a local Phuket real estate agent. Most local agents are selling either their own Phuket properties they developed on their own or some other Phuket Apartments or Phuket Condominiums that the agent is getting extra commission on. They sell the Phuket properties they make the most money on.
Some agents do know the local market but are in the business of buying low and selling high. I remember going to see an agent in town when I was new in the Phuket real estate game. He showed me three different Phuket properties. All three I found out later he or his partner owned. So remember you will get the best deal if you go to see the developer directly and save.
Buy Phuket properties that developers will make a deal on.Most Phuket property developers are trying to make a big name for themselves. The only way to do this is to have successful Phuket properties in their portfolio. This means the developer needs to complete a Phuket apartment or Phuket Condominium project on time and that the customers who bought in on pre-construction are happy with their purchase.
Knowing this will allow you to save big because you know you can make a great reference for the developer. By letting the Phuket property developer use your name as a reference he may give you some extra discounts that a normal customer may not receive.
Buying Phuket houses or Phuket villas in Phuket because you will spend your vacation time fixing your Phuket property purchase. When you purchase a Phuket apartments or Phuket Condominiums, the project usually has a rental program and a maintenance program in place. Owning Phuket real estate can be great, but you have to invest smartly.
Check local Market prices on Phuket Apartments in the area of your interest. Know what the local prices are selling for in the area. Make sure to compare apples to apples however. Some Phuket properties and very little Phuket Apartment common area and others have as much as 25%. Knowing this will help you evaluate the Phuket property you looking to purchase.
I found the best way to do this is looking at the price list sheets and either downloading them or printing them off. Put all the Phuket apartment or Phuket Condominium projects you like side by side and compare them. Also look in the local newspaper for Phuket real estate news events and Phuket apartments or Phuket properties promotion shows.
Even small islands like Phuket will also have Phuket real estate or Phuket apartment shows every few months. This is a great place to pick up new information about projects featuring Phuket apartments or Phuket Condominiums that are just starting pre-construction or are in the building phases.
Phuket apartment or Phuket Condo's - Which one is better?
We could write a whole article on the differences between Phuket Condominiums and Phuket Apartment projects. The big difference is in the actual ownership of the Phuket property. Some Phuket Apartment projects offer only a 30 year lease. Most Phuket Condominium projects will offer you a freehold title. You want to be sure you understand what title you Phuket real estate developer if offering you.
There are special laws governing Phuket Condominium projects where the foreign owner can actually own up to 49% of the project freehold. Naturally, this is the best.
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