Buying property in Thailand needs loads of good questions for a good investment. There are a number of questions to ask when buying property in Thailand. Some of this might seem common however you would be surprised how few questions people ask when they are buying property. People tend to get hooked onto a feature and then forget about everything else. This is what estate agents usually depend on. You might like the view and this causes you to forget to ask about the damp spots. Always take legal advice from a lawyer in Bangkok.
Questions to Ask
Is this building in a flood zone?
Those who don’t live in Thailand might forget that every year there are floods in Bangkok. Some years they have been really bad. You need to ask about this or ask people who work or live around the place if it has ever flooded in the area. The people at the local 711 tend to be a good point to ask these questions if the estate agent has said nothing. If it is in a flood zone then how high has it gone before and has the building ever flooded? Always check if the property is in a flood zone.
How far it is from Mass Transit?
If you are looking at a long term investment then you would need to see what the value of the property will be in 20 years from now. Property located close to the BTS and MRT tend to hold their value very well as the land becomes more expensive to build on. The resale of the property might be what you should be considering if you are looking for an investment. A quality build close to mass transit is usually an excellent investment. Property in Thailand is always a good investment as property in Thailand has always grown in value.
Do you use copper or PVC pipes?
When buying property in an older building you need to ask how old the building is and if they used copper or PVC in the water pipes. The PVC tends to burst after 20 years and this you will need to consider. Check the bathroom and kitchen for lose tiles as this will usually shows damp coming out of the wall. If it is PVC then you will need to ask where in the walls the pipes are as the leaks tend to come from the bends in the pipes. This is a common issue in Thailand with older builds.
What type of pollution or noise can we expect?
Check around the building to see if there is a weekend market or entertainment zone which will block the roads on weekends. How far you are from an industrial area will also tell you how much dust you can expect in your condo. Thailand has become very dusty over the last few years and you need to see where you are located. Easy way to check is to look at the air-conditioning filter in the condo. Flip it open and it will tell you your dust levels in that location.
You might find it strange but second hand unit’s which are for sale people don’t bother to clean the air-conditioning filter before viewing. Always ask the proper questions when buying property in Thailand. Always speak to a property lawyer in Thailand about having a due diligence done on the property before you agree to anything. Failure to do this might cost you your investment.