Acquire a property on Koh Samui with a real estate agent.
As it happens everywhere but perhaps even more so on Koh Samui; undertaking a property acquisition process requires you to get closer to a trusted professional, who can guide you through the meandering of Thai regulations and thus, avoid falling into the traps and other pitfalls of a market unknown to you.
Finding a competent and reliable professional is not easy. Indeed some people do not hesitate to call themselves “Real Estate Agent” without any experience and without any competence, even without being registered…
To enable you to acquire a property in complete serenity, we recommend that you only trust real estate agents actually located in Koh Samui and duly registered (commercial company) with the local authorities.
Trust your intuition, discuss and ask questions, the answers must be simple and clear: what is well conceived is clearly stated.
Your real estate agent is there to guide you step by step in your process both during your discovery and visit phase, as well as during the negotiation and acquisition phase.
The knowledge of your real estate agent’s market will be an essential asset in order to acquire your property under the best conditions.
How to choose your new property?
The real estate market in Koh Samui is vast, both in terms of the number of properties for sale and the range of prices offered; from THB 4 million for a small villa to several hundred million THB for a luxury villa.
First of all, familiarize yourself with Koh Samui and visit the different areas of the island. Indeed there are many different aspects of Koh Samui; depending on where you live, make a list of your aspirations, on what you want but also on the elements that you consider unacceptable for the purchase of your house.
Also take into account the purpose of your investment, because a perfect villa for rent may not please you at all and vice versa.
Never forget that you will one day also sell the villa you buy today, consider the future development of the area which can become a plus or a minus in future.
Once these elements have been defined: visit, ask questions, if you like a villa or a piece of land, do not hesitate to make several visits and return to the area at different times; with or without your real estate agent in order to get a global understanding of your future environment.
Once you found your personal favorite, don’t forget, once again, to ask your real estate agent all the questions related to this property:
Is this property part of a residence?
In this case, what are the monthly residence fees to be expected?
What exactly do these costs include (garbage bins, 24-hour security, green space management, road maintenance, etc.)?
Is there a security deposit to be made with the residence?
Is the property serviced by the government power grid and if not, what is the price per kilowatt charged?
Does the property have a city water supply, a residential water supply or an individual borehole?
In general, only make a security deposit when you are completely satisfied and are confident that this is the best purchase option for you.
It is never easy to acquire property abroad, but with the help of a serious professional and your common sense, you can do very good real estate deals in Thailand and so you too can enjoy the house of your dreams in a small corner of paradise.