It is not just in Thailand or Pattaya for that matter that the perennial question always rises its head concerning property, “Is it better to buy or rent?”.
If you consider the pure case of economics, and you know that your rent over 10 years will equal the price of buying a condo, then go for it. But reflect, if you will want to stay in the same place for ten years? And will there not also be maintenance and service charges on top?
When rent is currently so cheap in Pattaya for all types of property, and the building owner takes on full responsibility for maintenance, it questions the validity of actually buying especially when the market is flooded and prices are not particularly going up or even holding their purchase price.
If you are buying-to-rent as an investment then there are four very permanent questions that need to be addressed.
• Are you prepared to wait 10-15 years for your money back?
• Will you be able to rent the property out every month?
• Will you be able to sell for more than you paid?
• Will you be left with a depreciating and dilapidated noose around your neck in ten years time.
Is There A Way To Make A Profit Purchasing A Condo In Pattaya
Buying a condo in Pattaya is not all doom and gloom, there is a way to achieve a profit in the market and to make a sound investment. The way to do this is to buy early, developers are currently desperate to secure sales in the early stages to help pay off creditors and to secure further funding for the next stage of building.
This means deals are to be had, and if you choose the project and location correctly you might snag up a bargain. There is a problem with this strategy as you need to buy in hotspot areas and often those properties don’t come cheap.
Added to that the huge risk of buying off plan where there have been numerous cases where the project has fallen through.
New or Used
So taking the aforementioned into account it would seem to be more advisable as an investment to buy new. Also if you consider that a new condo will come with brand new furnishings and fixtures and fittings the argument is tending to lean towards buying off plan or new.
Having said this, there is still a case for the used property market. If you are conscientious enough and keep your ear to the ground there are some really good bargains to be had in the used property market in Pattaya.
There are many reasons people want to offload perfectly good properties in fantastic locations for under their true market value. One reason and the most common is in the case of selling the property quickly.
Either investors have got cold feet, or professionals are moving jobs or countries, couples had a marital split, owners have purchased a new property and quickly need to sell their old, are all reasons why you can pick up a bargain.
So to reiterate, it is possible to get a bargain and make a sound investment buying new and used. Providing your research is done correctly and you have been able to negotiate correctly then there is no reason why you can’t be successful buying a condo in Pattaya.