Let’s start with some basic definitions that are commonly used when purchasing a resale property or a property from a developer.
Resale - The resale market references that the property has been previously owned and is now being resold by a private individual. This is also commonly referred to as the secondary market.
Developer - Properties purchased from a developer can be completed, under construction or soon to be constructed. This is commonly referred to as off-plan or the primary market.
There are advantages in considering a purchase from either party which we have outlined below.
The Secondary Market - Advantages in Buying a Completed Property
Prefer an investment that you can see and feel? Not interested in buying a project off of a piece of paper? Then a completed property on the secondary market may be the right move for you.
Here are the top reasons why some FazWaz customers prefer purchasing a resale property.
Ready for occupancy - Pretty self explanatory. If you’re looking for a primary residence the secondary market facilitates a quick transaction where transfer of ownership and occupancy can be almost immediate.
Size - A brief history lesson. Five, ten and fifteen years ago the cost of land in Thailand was much more affordable to those looking to develop. As such developers went big, in all areas. Sprawling gardens and pools, balconies and livable area. If size matters, focus your search on older projects.
Value - It’s a sensitive subject but a sellers misfortune can be a buyers fortune. The 3 D’s (death, divorse and disease) can lead to motivated sellers looking to exit an investment. Overall, there is greater price flexibility on the secondary market.
Immediate Returns - No construction means no delays. A completed property is ready to hit the rental market ASAP. If it's livable, its rentable, meaning your investment can generate a return from day one.
The Primary Market - Advantages to Buying Off-Plan
Off-the-plan, off-plan, the primary market or new homes call it what you want, across Asia there is a shift to consumers focusing on developer inventory. The reasons speak for themselves, purchasing from a reputable developer, early in the sales cycle can be a great investment. Here are the top reasons why many FazWaz buyers are looking to purchase off-plan.
Deferred Payments - Don’t have the full capital upfront? No problem! Buying off-plan allows you to make payment instalments at completed milestones of the build cycle. Invest in a project early and this can be deferred up to 24 months.
New & Customizable - No need to renovate or live with finishing and fixtures you despise. Customize the property to your unique tastes and receive a completed unit that matches all your requirements.
More Options - A duplex, corner unit or a ground floor walk-out? Buying off-plan gives consumers access to a wider selection of units.
Capital Gains - Buy low and sell high. Purchasing property at pre-launch pricing gives FazWaz buyers access to inventory before it hits the open market. This positions our clients for greater capital appreciation and allows them to exit the property efficiently when it is time to sell.
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