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Luxury Properties for Sale in Bangkok: Top 8 Tips for Buying

If you’re looking to acquire one of the many luxury properties for sale in Bangkok, we are here to offer you some expert advice. Whether you are seeking a new high-rise condo in the downtown, expansive estate beside a golf course or modest second home in the suburbs, there are many high-end home-buying choices across the capital city. Before you jump in and start waving around your cash, consider the following eight tips from the pros before buying your dream home in the Big Mango.

  1. Go offline

Many luxury homes, particularly the uber-luxurious ones, go unlisted publicly to protect the seller’s privacy. You will not find them listed on dotproperty or hipflat; so, you will need to go offline to widen your net. Properties such as these are shared via word of mouth, via a good agent’s personal connections and network.

  1. Work with a pro

As we alluded to above, you must have a great and well-connected agent who is familiar with your preferred property area working on your behalf. You will need their help to gain access to high-end properties as many do not have public open homes, and you have to secure a private viewing.

  1. See beyond photos

Do not dismiss a property based solely on its front elevation photos, as they don’t always tell the whole story. Many large properties, especially single-story ones, don’t photograph well from the front. You have to see these houses in person and/or check them out on Google Earth to see the full story.

  1. Look ahead

Investigate what development is planned in the area. What happens if someone decides to turn the decrepit old home next door into a 50-story high-rise condo taking out all your view? Or someone wants to build a shopping complex and clog up the street with traffic. Do your research and save yourself a headache down the line.

  1. Do your research

If you are buying off-plan, do a thorough investigation of the developer. What is their complete rate like? Has the project already been EIA approved? Know the property timeline inside and out. You do not want to tie your cash up for an extended time if there are any foreseeable construction delays.

  1. Know thy neighbours

When it comes to condominiums, know that when you purchase a home there, you are also buying into the Homeowners Association (HOA), which comes with certain restrictions and obligations. You will need to pay monthly maintenance fees and abide by their rules.

  1. Document everything

There is considerable scrutiny in the high-end real estate market. You will need to have your financial portfolio ready to go if you want a quick purchase. Whether you are paying cash or getting a loan, you will need to show you have the income or necessary money available to get a pre-approval letter.

  1. Room to negotiate

It’s typically their size, view, amenities, location and prestige that enable luxury properties for sale in Bangkok to command much higher prices. However, that does not mean they are above negotiation. Have your agent research comparable properties that have recently sold, getting closing prices, before you make an offer.

 


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