Looking for a way to save on costs? Moving to a smaller home might be the answer to your problems. Here are a few things you’ll need to consider:
How much is your budget?
There are plenty of affordable homes overseas, says the Business Insider, so make sure you start out with a clear idea of how much you can spend. That way, you can eliminate homes that are way above your price point early on. After all, there’s no use in torturing yourself by viewing all those homes that are above your budget. It could tempt you to go for a home that’s way beyond your financial capabilities, leaving you with a mountain of debt to pay off. That’s not going to make things easy for you money-wise. If you want to be smart and practical, go for properties that are well within your ballpark. That way, you won’t be throwing all your savings out the window.
What kind of home do you need?
Buying a home when you’re on your own is entirely different from buying one for you and your family, so make sure you know what kind of home matches the needs of your family as well asy our own. A condo unit of two or three bedrooms with extensive grounds on the condominium building’s property,might fit the bill just fine. Don’t automatically go around looking for a house with a yard. Explore any and all possible options you have. You might be surprised at the choices you’ll find.
How far is it from your workplace?
Make sure you pick a spot that’s close to where you work. Bangkok is quite well-known for its soul-crushing traffic. If you want to avoid the gridlock from hell, picking the right spot will matter a lot. You’ll just have to find a way to strike a balance between the cost and your needs.
Do you know how to find properties in Thailand?
With listing portals like DDProperty ,a condo property is easy to find. Whether you want a single unit or one with several bedrooms, online listing sites are the best way to browse through available real estate. If you want to get a head-start on your search for potential properties, this should be on top of the things you’ll want to check out.
What are your buying goals?
Be clear on why you’re buying property. International Living says there are plenty of great places in Thailand for expats looking to retire to greener pastures. Are you buying it for a second home or because you want a retirement place? A real estate investment will come with a different set of problems and troubles for homeowners who simply want a second home. If you want the thought of having a second base in Thailand for whenever you come over, then getting a condominium unit is a sound option. However, if you’re buying the property solely for rental income purposes, you might want to take a long, hard look at the situation first. From looking for renters and handling monthly rent collection to maintenance problems and bad tenants, being a landlord comes with its own share of pros and cons, so you’ll need to factor all those in before you buy property.
How long are you going to stay?
If you plan to stay for good, then buying a condo is a good way to start putting down some roots. However, if you’re only going to be in the country for a number of years, and if you’re just there for work or school, then finding a rental might work better for you.
What can’t you live without?
Do the legwork. Research a lot. Know everything you can. The more details you know, the more well-informed your buying decisions will be. You’ll want to compare features and amenities, too. In some cases, you might even have to decide which amenities are worth it, given the living costs you’ll have to pay for. Make sure you know what compromises will work and which options you simply can’t live without. It won’t do you a bit of good if you move to smaller home with a less expensive price tag if you’re going to miss out on a lot of the amenities that matter to you.
Where do you want to move?
Thailand has plenty of great spots for expats looking for a fresh start. Do you love the city with all the crowds, shopping havens, and convenience that come with living in the metro? Or maybe you’d love something more peaceful and laidback? Whether you want a city condominium or a beachfront property, you’ll have a fun time exploring all your real estate options available in Thailand’s property market.
If you’re looking to move, then it’s time to start working through these issues and more. This way, you’ll be financially and emotionally prepared for the big move.