Thailand is distinguished by its hospitality and comfortable climate, so more and more of our fellow citizens are thinking about buying their own housing on the territory of this kingdom. As Thailand has developed over the past few decades, so has its real estate market. This was especially noticeable on this magnificent tropical island. But the purchase of real estate in Phuket can be a difficult task. To do this, the owner of the property must not only stand out among competitors, but also convince the buyer to conclude a deal at a favorable price for him. Below there are the main recommendations that will facilitate this process for sellers of property.
Here are some recommendations that will allow the owner to determine the right value for his property:
- Analysis of prices for analog properties. Analog properties are houses with similar size, condition, location and amenities. One newly renovated two-storey penthouse with a swimming pool and an area of 162 m2 should be in the same price range as an analog property in its area.
- Analysis of market conditions. Let’s assume that the price of the last three analog objects sold in the seller’s area was USD 250,000. To attract buyers, the owner must set a similar price. The owner may have to value a property at USD 249,000 and agree on USD 245,000. Or vice versa, it can add 10% to USD 250,000 if supply is limited and demand is high.
- Analysis of the area. The prospects that the district expects in the future may affect the price. If it faces positive development, for instance, the construction of a large shopping center, new roads or a school, the cost of the property can be increased by several percent. On the other hand, if grocery stores and gas stations close, the house should be sold cheaper.
The process of selling real estate is much easier if the owner presents it in the right light. To do this, the owner can hire a professional photographer who will take high-quality photos that demonstrate all the advantages of the property. The list of these significant moments clearly does not include the photographer’s view. In the end, his reflection will simply distract from the evaluation of the merits of the apartment. The owner will set the right angle to make the house look as spacious as possible, and uses other techniques to obtain favorable lighting. Good photos will increase the number of people who want to inspect the property, and the probability of its sale. A real estate ad should provide buyers with the necessary information: condition, finish, views from windows, etc.
Real estate condition
How clean does the house look? Does it give the impression of freshness and novelty, or does it need to be improved by painting the walls and adding accessories? A small cosmetic repair is a great way to increase the interest of potential buyers. Fresh paint on the walls, new curtains and carpets, good condition of household appliances – all these small details will help to put the property in the most attractive light. However, a huge number of well-maintained apartments are so cluttered with furniture and household items that potential buyers simply do not have the opportunity to see the advantages of the apartment behind all this mess.
Even if the apartments are sold furnished, buyers do not want to see chairs, tables and a bed, but to visualize the size of the apartment, to understand how spacious it is. The abundance of interior items clutters up the entire space and always hides the true dimensions, the dwelling seems smaller than it really is. There is nothing to say about paintings with a massive desk, sofa or chest of drawers in the foreground. This makes the photo in the advertising catalog practically meaningless.
Reliable real estate agency
Competent real estate agents with many years of experience will know the necessary subtleties that will help sell a property at a bargain price. They take into account all the factors of this issue: from the right time to sell to current market trends. Most often, experienced investors who profit from the resale of property in Phuket turn to specialists from Thailand-Real.Estate. They help sellers get the right idea of the market and attract the attention of potential buyers. Real estate specialists have all the necessary knowledge and can tell which areas bring the highest ROI to owners. Investors working hand in hand with such an agency never doubt their decisions.