Here I will be giving my thoughts on where to start looking once you have decided to buy property in Pattaya, Thailand. There are so many condominium complexes, apartment building and housing projects being built, proposed and planned in Pattaya today that it can become somewhat over whelming, and at times a job to know where to start looking.
Firstly I'll give my insights on how to make finding the right property in Pattaya as easy as possible. Now before embarking on the property hunt, you should have a clear set of goals of what you want your future home or investment property to consist of, make sure you know at least the three main essentials:
- Budget
- Location
- Property Type
I know this may sound obvious in the extreme but after working in the Pattaya real estate market for many years it is surprising how many people start contacting estate agents before they have a clear idea of what they actually want and where they want it! What makes the task even harder here in Pattaya is that fact that Pattaya has such a broad range of properties on offer with an even broader range of prices.
You can find a one bedroom condo for 1 million Baht or one for 10 million. Houses range from under 1 million and climb all the way to 100 million Baht and beyond! And although Pattaya feels relatively small once you know your way around, it is still large and diverse enough to have dramatically reflecting price differences. A three bedroom house with a pool and large garden might cost around 11 million Baht in the Huy Yai Area, but would cost close to 30 million on Pratumnak Hill.
Another thing I find interesting with potential property investors or holiday home buyers is the lack of research they put into location, and even as I cringe when I hear agents say it:
'Location Location Location' truly is key!
I would first advise anyone seriously looking to buy property in Pattaya or the surrounding areas is to have a real good look around and try to get a good feel for the different areas. Go and spend a day on Jomtien Beach and then return again in the evening to see how it compares. If it's a rental investment your thinking about ask yourself if you'd be happy holidaying or renting in this area? Take time to explore the different areas and see what's going on and all times of the day and night!
What to buy? Again this will depend on what you want from and your reasons for buying a property in Pattaya. There are also legal issues to take into account when buying property in Thailand for example:
You can own an apartment in your own name as a foreigner but a house or land must be bought and owned in a Thai name or a Thai company name. This is something any decent estate agent will be able to advise you on and I intend to cover this subject in greater detail in my next article.
Obviously agents want to make a sale and help you find the right property, just make sure before hand you know what that is. I would even suggest going to an agent with the three boxes to be ticked and see what they have on offer.
For example;
Max Budget? 5 Million Baht.
Location? As close to the beach as possible!
Property Type? At least a one bedroom apartment.
Above all else, buying a home or investing in property in Pattaya is an exciting experience and should always be fun! It needn't be a chore or headache but be prepared to do a little homework and a lot of legwork and finding your dream home will become a reality.
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