The very first and most important stage for the future buyer, which will become the foundation for all further actions, is to determine the purpose of the purchase.
Why is it important to set a goal right away? The fact is that a family who plans to move to the island to live is hardly suitable for a small apartment with a hotel license and daily occupancy, just as an investor who plans only to rent out real estate is not suitable for an apartment in the center of the island with a long-term lease.
Different goals = different properties.
For 10 years of working with real estate in Thailand, I can distinguish three categories of requests from clients.
Purchase for living and self-use
Phuket is a great place for families. The sea and the sun all year round, a high standard of living, security, international schools and kindergartens, a large number of clubs for children, sports, bodily practices and much more attract a lot of families from all over the world for permanent residence. Phuket can also be called an ideal place for “remote workers”.
If you are considering purchasing real estate for personal residence, then you should focus on your own preferences and choose a property “for yourself”. Feel free to implement design and architectural ideas. It is worth choosing residential condominiums or villas, where you can enjoy a calm and measured life.
Purchase for income
The choice of real estate should be based on the investment attractiveness of the object, profitability programs and the final profit. In this case, independent living comes down to a minimum and is limited to 14-30 days a year. We focus on key criteria: location of the object, rental pool management programs or guaranteed rental, hotel license, professional management, buyback and uniqueness. Read more about how to choose such a property in our articles. When choosing a property for rent, you need to focus on numbers, and not on emotions and personal assessment.
Mixed type
Leisure use of the property for several months of the year and occasional rental. If you plan to come to Phuket for a vacation several times a year, then the rest of the time it is possible to give the property to management. The income received allows you to pay for annual maintenance and your vacation in the Land of Smiles. The right goal is the key to a successful purchase. And if you still doubt why you really need real estate in Phuket, please contact us for advice. Together we will figure it out, build an investment strategy and choose a property that is right for you.
