A buyer’s regular commute should be considered when selecting the desired location. It should also be economically viable and have solid growth fundamentals. The progress of construction and the New developments in Thailand infrastructure surrounding it are major factors in determining whether a property will appreciate or rent higher. In order to understand the developer’s pedigree, buyers should read reviews of the project and earlier projects.
Obtain all information about all those involved with the project, including the developer, advisors, banks, etc., to determine if there are any quality problems or delays in possession. New developments in Thailand, though, may cost a premium, so investing with a reputable developer with a good track record is always advised. Under-construction projects are required to comply with RERA, which requires the property to be registered, to have a valid RERA number, and to have all the necessary approvals and licences.
Potential buyers can obtain information about such homes from their state’s RERA websites. As a result, they are required to conduct fair and transparent business. The real Estate Appellate Tribunal, established under the Real Estate Act, can review complaints filed by homebuyers who are dissatisfied with their purchases.
Buyers should be able to service long-term debt. Many developers offer customized payment plans for buyers. The key is understanding whether the buyer is purchasing for an end-use or investment purpose. The benefits vary. The choice ultimately depends on the buyer’s needs. A homebuyer has many choices when purchasing an under-construction property, unlike a secondary or resale property.
They can modify the floor plans and specifications according to their convenience. A homeowner can choose between a higher or lower floor, a preferred view from the balcony, or any type of customization or change one wants in the house, such as tiled kitchen walls. Early-bird homebuyers benefit not just from the low-interest rate but also from the rise in prices as the property progresses.
The development of the surrounding infrastructure adds value to the home. Due to low interest rates following the pandemic, under-construction properties are becoming increasingly popular due to their attractive prices, which can be between 10 and 30% lower than those for possession-ready properties.