Top tips for buying a new build property in Hua Hin
Buying a new build property in Thailand can feel extra special, but as with any property purchase, it can also come with its own set of challenges.
Here are some tips to help you through the process.
If you are buying a new property off plan, how do you really know what it is worth?
Do your own research and compare prices with similar properties and developments in the area and seek advice from local agents.
Typically, the earlier you get in at development, the better deal you will be able to negotiate – and of course, you’ll have much more choice.
The number of buyers interested in the development and how many units have already been sold may also impact on the price. The state of the local property market in Hua Hin may also play a factor in the price of the property.
Also, no price is set in stone, so negotiate!
2. Find out exactly what is included
The nature of buying off plan obviously means that you can not physically see the property before you begin the process of buying it.
Therefore, you need to be extra sure you know what you are getting for your money. Does the price include garden landscaping or a pool? Do maintenance fees need to be paid upfront? Make sure you know what comes as standards – such as white goods and a kitchen, and what you may need to pay extra for.
3. Think beyond the show house
Before construction starts, developers will use a show house as a selling tool. But this only gives you an indication of what you may buy, so take it with a pinch of salt.
Your home will be on another plot and could have a different layout for the show house.
The show house may only include skeleton furniture or even no furniture at all. While the show house may look spacious, you need to try and imagine it with all your belongings – from kitchen appliances to room for the dog.
4. Find out how many units have been sold – and to whom
You don’t want to be the only resident on the development – or even worse – living on a construction site for the next two years – so find out how many developments have been sold.
Also, try to get an idea of who has bought other units.
If it’s Bangkok locals buying holiday homes or weekend getaways in Hua Hin, it’s likely the development it could be a little quieter during the week, which may suit you. If the units have mainly been sold to foreign retirees and expats, the development may be busy year round, which also may be to your liking.
5. Who is the developer?
Do your research on who exactly the developer of the project is. Is this their first project or are they experienced? What is their history, what are their other projects like and what is their reputation like locally?
6. Location, utilities, and access roads
Find out the plans to connect the mains water supply and electricity to the development. The last thing you want is for your new home to built without any proper water supply. Believe it or not, it can happen!
Ask you, developer, whether there are any plans in the future for third parties to develop the surrounding area. Also, ask about access roads to the development. You don’t want to be driving down a dirt track to get to your development, especially during the rainy season.
7. Get up to speed
While you don’t need to be a legal expert to buy a new build property in Hua Hin, it does help if you know your way around the house buying process. Familiarise yourself with the different ownership options for foreigners buying a property in Thailand. Clarify which land title your property will be built on. For more info check out: Thailand Property Ownership Explained.
8. Use a lawyer
As much as you can familiarize yourself with house buying in process in Thailand, it is always advisable to seek professional legal advice when buying property – especially if you are a relative newcomer to the country. If nothing else, ask a lawyer who has experience with property purchases to give you some advice prior to signing any contracts. If needed ask your developer for a copy of the contract so you can run it past your lawyer.