When it's about buying or renting a property in Pattaya, there are many questions that come to your mind. However, Pattaya is one of the alluring locations in Thailand that is typically famous for tourists visiting. Condo living is quite popular there, and you can witness numerous condo options as per your budget, from luxurious to multiple bedrooms.
Before buying or renting a condo in Pattaya, there are numerous things that you should look at beforehand. Here, we have listed the pros and cons of apartments for rent in Pattaya. Read the article and know the following.
Pros of buying a condo
● No difficulties in finding a tenant
Finding a tenant in Pattaya for monthly rentals can take a long time and money. This is especially true for foreigners just beginning their real estate investments in Pattaya. In addition, since there is no set standard, the nation's rental process can be a bit perplexing for certain people. However, buying a condo with existing tenants might save time and effort by avoiding looking for new tenants.
● Easy to own a house
The biggest benefit is the ability to purchase the apartment in your own name, at least from the perspective of a foreign buyer. Although there are strong rules in Pattaya, Thailand, regulating land ownership, if certain conditions are met, you have the added security of possessing the land you choose to buy.
● No need for investment
In Pattaya, purchasing a condo with tenants implies there is no additional investment required. Moreover, since the property is already equipped and rented out, you don't need to worry about renovations. As a result, it's a profitable prospect for individuals on a limited budget.
Cons of buying a condo
● Neighborhood problem
Again, this might also be an issue in a village, but regrettably, condos seem to experience it more severely. Noisy or rowdy neighbors can significantly impact others residing on the property.
● Legal risk
One of the hazards is that a condo you purchase in Pattaya that is tenant-occupied does not adhere to local legislation. You are responsible for everything in the condo that doesn't comply with the law when you rent Condo in Pattaya. As a result, you must exercise due diligence and perform a comprehensive property inspection. You will also be held legally accountable to the tenants. You could be stuck with the bill if the prior owner didn't fulfill their obligation.
● Difficulty in selling the property
This is rarely a problem if you acquire a high-quality apartment. However, some of the aforementioned problems may make it more difficult for you to sell your condo owing to outside factors. Considering lifespan when purchasing a property is critical, given the constant influx of contemporary condos into the market. Several older structures are currently as attractive as some modern houses, if not more so.
Bottom Line
Hope the above-listed pros and cons will help you in buying and availing Pattaya rentals monthly. With the help of a property management company like Global Top Group can help you in buying or renting a property in Pattaya.
