Thailand is an amazing destination for a second home or investment property – But PLEASE ensure the necessary due diligence has been carried out prior to a purchase!
So you have fallen in love with Thailand? Like so many others before you, and the thousands that will follow? For whatever reason, you have chosen to own a property in Thailand? This could be for the long term prospect of making this wonderful country your permanent home, or as a potential investment, and/or for the pleasure of having a luxury holiday home in the sun. Whatever the reason, there are certain things you need to consider before jumping head-first into a purchase.
Naturally, what seems like a great idea at the time can often change after a full investigation of the pro’s and cons? There is certainly no reason not to consider such a purchase, but like any property deal back in Europe or the USA, it is advisable to carry out due diligence beforehand. Find out the facts before you sign anything, and be sure you have covered everything before you proceed.
Buying a condominium is a very attractive investment option. There are many types of condominium units available and you can buy one depending on the number of rooms, the facilities offered, the maintenance charges and the construction style. However, before you venture into buying a condo, it is vital to get a property supervision. Why?
Here is a look at top five reasons for getting a Condominium Inspection before purchase:
Old apartment buildings are many times converted into Condominium Buildings. An evaluation is needed to assess the need for repairs, get a list of repairs to be done, the costs for the same and so on. This way you will come to know whether you are paying a fair price for the condo.
Sydney besides being a major commercial hub is also one of the most
populated cities of Australia and the world. With an increasing number
of people willing to migrate to the city for ensuring a better career
and future, the demand for real estate Sydney is definitely on the rise.
Consequently, the profession of real estate agent or developer has
become one of the most preferred and well paid jobs. However, in order
to truly achieve success as a real estate agent, these professionals
need to have a deep understanding of not only the real estate market but
also the diverse clients they deal with. The task of providing help
buying a property in Sydney to clients is one of great responsibility
and involves the consideration of following factors.
The Type of Property:
The real estate agents need to truly understand the requirements of the
clients in term of the size and the style of the property they are
seeking. This knowledge helps them to direct the client to the right
kind of properties and win their trust, which is extremely important for
a strong working relationship.
Purpose of Buying Property:
Many people buy property just for investment purposes, while others
want to buy real estate Sydney for building their home. Being clear
about the intention of the clients with respect to the property plays a
critical role in determining which properties would suit them the most.
be submitted While condominiums around the country can be found in many scenic locations, New York City condos are usually situated in high-rise buildings stacked one atop the other. However, Manhattan condominiums are still considered real estate, and usually the same laws on sales, financing and taxes that apply to other properties also regulate them. Here are some tips to keep in mind when you go hunting for Manhattan condominiums: >>> Approach buying your first condo as if you are purchasing your first home. Try not to overreach financially. Its’ acceptable to put only 20 percent down. >>> It’s also advisable to obtain a mortgage that has a fixed rate, so that you have monthly housing expenses that remain stable. >>> Be conservative. Do not spend more than 35 percent of your pretax earnings on mortgage, property tax and home insurance combined. >>> Plan for the future, particularly if there are children on the horizon. Make up budgets including a proposed mortgage and factor in different variables like both spouses working full time, one employed part time and one remaining at home for a couple of years. >>> Even if you do not have or plan on having children your proposed budget should reflect life’s uncertain variables like industry downsizing and mid-life career changes. >>> Factor the common charges into your budget. This is the monthly fee you are required to pay which goes to the maintenance of the condo building. >>> Fully understand what will constitute the physical parameters of the unit your own, as well as the building’s common elements like the land it is built on and the lobby and hallways. This will be spelled out in the condominium’s declaration and by-laws, which are required from the building’s owner or developer. >> Be aware, that the board does not have the right to deny your purchase of the property. They do have a -right of first refusal- to buy the property themselves, but this is seldom invoked. >>> Be aware of recent court cases that have dealt with the board of managers of NYC condominiums. For instance, the courts have held that board members cannot be held personally liable for the operating decisions they make as long as their members are operating in good faith. >> Gauge the market. The soft economy has taken a toll on prices sellers are getting for NYC condominiums. For instance, the week after Labor Day in 2007, studio apartments new to the market were listed at an average price of $525,000. The following year, the average price was $429,000. In 2009, it slipped to $399,000. When you have a good idea of what condos in your size and price range are going for, you’ll have a better handle on what to offer. Buying your first condo in Manhattan can be an exhilarating and joyous experience. Keep the points above in mind, and your purchase will be that much more satisfying.
Elika Associates works for you as a Exclusive Buyer’s Agent, we specialize in the buying side of the real estate transaction. Your interests as the buyer always come first with us. For more details on new york city condos please visit our website www.elikaassociates.com/condominiums a>
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Yet, only 12% are enrolled in an identity theft protection program.
Further analysis revealed that identity theft costs about $4865 per person violated, yet identity protection services cost around $250 per year.