5 Smart Tips for Buying a Villa in Phuket
Phuket enjoys beautiful tropical weather all year round and this makes it an excellent location for investors who wish to purchase villa property. The appeal of the climate to tourists seeking exotic vacation locations will make it a profitable investment for buyers. Most villa property is located along the very sought after west coast which pushes the prices up due to the demand.
As a result, many project developers are now looking into areas along the east and north coast to erect new buildings and also obtain land at a cheaper rate than on the west coast. You can be assured that the beauty of the island will live up to its reputation because the laws of the country ensure that environment remains protected even with all the construction. Here are some very useful tips to bear in mind when looking into purchasing villa property in Phuket.
- Purchase from a reputable developer.
Developers with a good reputation and an equally solid track record of quality developments are your best bet if you want to get a lasting structure which has been built in compliance with the highest standards. Since many developers abound, you will find that those with less experience may offer you a more attractive price and may also be very willing to accommodate your custom needs. A common thing however is that they may lack the experience necessary to complete the build on time among other possible setbacks which may occur. More established and experienced developers who have a track record of completing projects on schedule would also have enough resources and so you can expect less issues with those projects. The key is to identify a developer with whom you can develop a good rapport and feel comfortable with to proceed with your transaction.
- Consider the location and its environs.
This is an important consideration since the area in which you purchase your villa may not necessarily remain the same over time. You would not want to have your valuable investment obscured by unsightly construction over an extended period of time or have your views blocked by the erection of other structures. One of the main reasons people enjoy villa accommodation is the privacy so it would be good for you to try to ascertain the plans for the area and its environs to determine what the landscape will be like in the near future.
- Do not rush to put a deposit down too early.
Your agent will be more than happy to assist you to complete the sale within a relatively short period of time. While a short sale may be ideal for many reasons, you want to be completely sure that you will be seeing the transaction through to completion. Failing to do so will result in your deposit being lost. If there is an issue on the part of the seller, then your deposit is generally refundable. Some agreements have their own particular set of stipulations so all of these kinks need to be ironed out before you make a hasty deposit just in the hope of reserving the property.
- Employ an expert attorney to assist in the facilitation of the sale.
While it may be possible to purchase property in Phuket without using an attorney, a purchase of this magnitude will require solid legal representation. Some of the laws of Thailand are very specific when it comes to foreigners purchasing property. The language barrier is another matter which requires the attention of an expert. Give yourself the security of a seamless and profitable investment and transaction by utilizing the services of a knowledgeable and professional legal expert to explain the nuances of the process to you and to assist you with all the procedures.
- Employ the services of a real estate agent.
With a purchase that has a price tag as large as this one will, you will also want to secure the services of a real estate agent with a wealth of experience and a good working knowledge of the locality. With their familiarity of the various geographical locations and where the best prospects for sale are located, they will be able to point you in the right direction so that you can find exactly what you are looking for. The ideal agent will also be able to speak the language fluently to communicate effectively between you and the developers or sellers and also be able to eliminate what you do not want. They will also hopefully be able to fetch you a fair price through diligent search or negotiation with the seller to effect an equitable agreement.
These tips are geared toward helping you to obtain the best possible deal and value for your investment, which you will be able to benefit from for years to come in the beautiful island of Phuket.
Author Bio – This guest post is written by Malcolm Jones promoting Phuket villas for sale.