Nothing helps with shopping like a good shopping list. It saves time, money and helps you make better choices. Without one, you’ll probably come back home with a bunch of useless stuff you didn’t even want or need in the first place. Make a shopping list, always!
And always means also when shopping for property. Especially that stakes are much higher here – make the wrong choice and you won’t just end up with an overpriced jacket that caught your eye in the shop and that you’ll never ever wear, but with a big headache and big losses. A shopping list when shopping for a property is a must…and we made one for you. Here are the five things to look out for when real estate shopping in Phuket.
Phuket is a big island and properties for sale are scattered all around. But there is one simple rule to stick to when choosing which one to invest your hard-earned money in – stay close to the beach. Phuket is a beachside holiday destination and that’s what your future tenants will be looking for – easy access to the beach. Give it to them. It will make your property easier to rent or resell and with better profit margins.
Man shall not live by the beach alone. Infrastructure surrounding your investment property matters too, a lot. Look for a property with easy access to shops, restaurants, service points as well connected to the rest of the island with good quality roads. – in my experience, some of the best road infrastructure in Phuket along with plenty of lifestyle destination is located north of Kamala
Hunt for them. They mostly come in the pre-sale stage with properties sold off-plan. As the property you’re investing in is not yet built, bet on a trusted developer which proven track record of successful project launches. The secondary market is worth exploring too – just find a reliable agent and look for properties with for urgent sale – there are real bargains out there.
Investment in property is usually a long-term one, which is why quality is so vital. You will want to make sure that your property can withstand years of exposure to Phuket’s tropical sun and torrential rains. If you’re buying off-plan and can’t visit the actual unit that you’re buying, try and visit the developer’s previous projects to make sure the quality is not an issue.
As you’re already spending a substantial amount of money, it’s better to spend it on something exceptional. Many investors chose to buy a few of cheaper units instead of a single one which is pricier but has something special to offer, only to discover that those cheap units are harder to resell because there is just so many of them around. Go for something special and top of the line – that’s what everyone desires. And opt for an eye-catching, unique design because people shop with their eyes and so will those to whom you resell or rent your property out in the future.