It can be hard to find cheap condos for sale in Pattaya. Real estate property in the city is a hot commodity, and it’s no surprise. With the booming tourism industry and the number of people who want to live on the island, property prices are going up as the market becomes more competitive. Thankfully, there some ways to find units in the area on a budget. Read on to find out how.
Set a budget.
Before looking at listings, the first thing you should do is set a budget. Real estate is a big investment, even if the property is competitively priced. You want to make sure to get a price and payment plan that fits your finances. To help set financial boundaries, consider the following:
How much do you spend in a month now? This should include your food, electricity, water, travel expenses and any other costs you incur monthly. You should then deduct the sum from your monthly income.
Take 10% out what’s left of your income. This is the amount you can spend on monthly payments. The 10% is for your savings – this ensures you have money to spend in emergency situations.
Once you’ve calculated how much you can spend on monthly payments, you can start looking for units that fit your budget. Remember that to make the sale, you should also have enough money for a down payment.
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Take advantage of pre-selling offers.
The easiest way to buy property on a budget is to look for pre-selling units. Usually, these are much cheaper than the existing ones, as the investor must wait for some time to see the physical structure. Furthermore, it’s a way for the developers to guarantee the success of the project.
Consult a real estate agent.
A real estate agent can help you seek units that are suited to your budget. They can provide you with the latest listing at the locations you want. To add to this, they can also help facilitate loan applications, and negotiate for the best deals possible.