Viewing property must be done! If you are going to buy a condo in Thailand then you should consider location. The due diligence will only tell you so much until you actually visit the location at different times of the day. The due diligence will tell you where the property is located as well as the zoning area which is important. Never buy property without having a due diligence done on the property to ensure that all the permits, title deeds and other government regulations have been met and that there are no mortgage or servitude’s, leasehold agreements or usufructs registered over the property.
If you are buying a condo it is important to see what type of zoning is close to where you are located as it will tell you what type of traffic you can expect. If there is an entertainment zone located close to your property then weekends will be difficult for traffic and noise. The same goes with how close you are to an industrial zone as you will get loads of fine dust in your apartment during the week. You need to consider all of this when buying property.
Also check for the flood zones in Bangkok. If it is an older building there will more likely than not be zero flood mitigation. Speak to property lawyer in Thailand about where the property is located and use this map to match it against the government flood map. This will give you an idea as to what you can expect if there is flooding again. Normally in new builds they tend to build 2 meters above the ground and place all the electricity equipment on the first floor and not the ground floor.
Traffic & Mass Transit
How far are you from the BTS or MRT as normally the property value close to them are really good value for your money long term. This also raises foot traffic as well as motorbike traffic however overall being close to the MRT or BTS in Bangkok adds value to your property especially the resale value. Buyers are more likely to look at the location close to mass transport as an advantage into the future as land prices close to them become more expensive. Viewing property must be done by yourself.
Quality of Build
This comes down to who developed the building. The big names in Thailand tend to do a very good job when it comes to design and quality of materials. At times there may be issues such as damp spots forming around the air conditioner vents because of the high humidity in Thailand or where the building heats up on one side of the building during the summer months or having a large wall facing open terrain causes damp spots. If you are buying second hand then check for cracks or where fresh paint has been used to see if there is anything hidden. This is why Viewing property becomes important.
One last issue is that many builds in Thailand use PVC piping for water and these tend to burst over a 20 year period. You should look for any signs of this as they become costly to fix in older buildings. Fresh paint and new titles in the bathroom and kitchen are normally a giveaway. You can tap on the tiles to tell you if the tiles are coming lose from the damp.
There are loads of things to look for and to ask especially parking. Does your apartment come with secure parking as this can be a problem as parking is expensive in Bangkok? Ask the right questions during your viewing of the property. Viewing property is an important part of this.
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