The number one rule in real estate, “location, location, location” applies to Thailand just as it does anywhere else in the world. Choose a house, condo or villa for sale with a great location and you’re sure to maximise your chances of getting a great return. To be honest, it’s generally more important than the condition, age and amenities of the property combined. This is why people pay exorbitant amounts of rent just to live in downtown areas of huge cities.
But it’s not just being in the middle of a city that makes a location great. You could have two identical homes in a suburban development, but the one with the better view that’s closer to the entrance might be worth more simply because of its location, location, location.
How to know your house or condo is in a great location
The view
Picture two houses perched on a cliff, but one overlooks the ocean and is flooded with light most hours of the day, while the other, even though it’s right next door, is built in a way that you have to step into the backyard and around some trees to catch the same view. Which one do you think will sell faster? It could be a stunning house, but if it’s a stunning house with a stunning view it will be irresistible to home buyers. Views can include mountain or skylines or fields.
Proximity to reputable schools
If you are buying a house or a villa, you must consider that families are a huge target for this kind of property (as opposed to a condo). Before you move, check to see what schools are in the area and check their reputation. Knowing that there’s a great private school just a kilometer away and being able to tell buyers straight away could be the push they need to make the purchase.
Close to natural and commercial attractions
A condo or villa located near a beach, a hiking trail or a lake will retain their value for longer than homes that are a driving distance away. Similarly, in busier areas homes that are in walking distance of supermarkets, shopping centers, or entertainment will be added incentive for a buyer to make a purchase. Walking distance to public transportation is always helpful as well.
In conforming areas
Great minds think alike, they say. In the sense of property purchasing, one should consider the type of person that might buy the home and then consider if there are likeminded people nearby. If you think the house would be perfect for a family, see if the neighbors have children. If the condo may be perfect for a young businessperson or a foreigner, see if there are others living there in similar homes as well. Home buyers mostly prefer to be surrounded by similar types of properties and people, where people (possible friends and acquaintances) just like them reside.
In safe and stable neighbourhoods
Someone may not love the house, but if they sense that they could love the neighborhood and the people in it, a home buyer may consider making a purchase with the intention of renovating. Choosing a neighborhood with a low crime rate, communal activities and a generally stable economy will fare you well when it comes time to resell.
