In America, it is a well known that the single industry to produce the most self made millionaires is none other than the Real Estate Industry. Starting to invest in real estate locally or around the world has been a way for men and women to make their fortunes for decades, even centuries. The key when starting to invest in land, condos, homes, or commercial property that investing in real estate is a long term game.
Yes, of course, you can make small fortunes “flipping houses” however, those that are looking amass a lot of wealth in a stable investment venture, smart investors have been turning to real estate time and time again.
How Will You Use the Investment Property?
Before it is time to invest in a piece of property you need to decide what the purpose of the property is going to be. Investors buy property and real estate for different reasons, and the returns can come in the form of cash rental payments, profits on buying and selling, or property appreciation. Sometimes even property depreciation is used in the form of tax write offs, there are a number of ways investors use property to make fortunes.
Sometimes investing in real estate is nothing more than wanting to own the home or condo you are living in. For some, the idea of renting a home is absolutely out of the question. These buyers may need to sell another property before buying a new one. Sometimes they will need it to move in right away, and other times they may want to buy off plan so they can customize a condo in a newly constructed building. Investing in a primary residence in this way will typically save on costs, as the units always sell for less before the building is done. In Thailand, this is especially true of developments by foreigners as they rarely use banks and tend to rely on the capital raised in pre sales to build the building. The profits come when they begin selling the units in a finished building.
The risk obviously is higher when buying in a building that is not complete, however, with increased risk comes increased returns on investment typically, and greater control over how your unit is laid out. This is an ideal situation for those that are looking to combine units to make a large flat in a communal building. Another important point for investors to consider if they will be occupying the apartment are the quality of the materials used. If you are going to use it every day yourself then it is likely that getting the best value for your money is critical.
Part Time Residence or Vacation Home
Other owners decide to invest in a part time residence or a vacation home. Thailand is a popular destination for “snow birds”. Those that live in very cold countries that like to escape the snow during the colder months in exchange for the tropical lifestyle of Thailand and its beaches. A Vacation Home can save money on the cost of expensive hotels, allows you to travel easier for extended holidays, and reallocates money otherwise spent on entertainment into an investment avenue. When you buy a condo for use throughout part of the year it is also possible to use it as a holiday rental to generate additional income on top of the appreciation value, and the savings incurred on from holiday spending.
Still other owners may want to use the units to generate steady rental income. Building a revenue source through renting out property is a great way to get started in the property investment game. Perhaps buy a studio unit first, build a relationship with a good property manager, and begin to explore the world of property investing. Please consider who will do the property management when making your decision to buy rental properties.
How Does Skylight Fit in with the Different Investment Reasons?
The developer of Skylight is Powerhouse Development Co. Ltd, and their sister company Powerhouse Properties Ltd handles all the real estate listings, resells and rental management. Regardless of what type of owner you are, Powerhouse has services available to buyers during every step of the investment process. They offer quality buildings, in great locations, that they build, and also manage rental properties, and the sale of other properties throughout Pattaya and the Eastern Seaboard of Thailand.
Quality Project with Quality Materials
Skylight Condo has been designed using the highest quality materials available at the best value. One example is the air conditioning units that blow the exhaust into a vent that heats the water, saving on emissions, and water heating costs. The type of stone used in the units is gorgeous and easy to maintain, and also contributes to the cooling factor of your home. The indoor garden and skylight that opens up to bring the outside in also adds to the oxygenation of the environment as well as helps in regulating the temperature, and adds to the calming atmosphere.
Large Floor Plans
Throughout the last decade, many developers were building micro units for rental income, as Pattaya expanded the buildings soared higher into the air and the units became smaller and smaller. This is fine for urbanization, and units that will be used primarily for short-term holiday rentals. This is not so great for those looking to occupy their investment or those looking for a higher caliber of the renter. The large units will tend to attract higher end clientele, and welcomes the owner who would rather occupy their unit.
Final Bonus: Location is a Key Factor when Starting to Invest in Real Estate
Jomtien Beach is an up and coming area adjacent to Pattaya Beach. Speak to a local today and they will tell you Jomtien reminds them of the way Pattaya was 20 years ago. This is good news for those looking to invest in the Thai condo market. Jomtien is the next place poised for growth in the coming years.
To schedule a tour of the construction site, and visit the showroom please contact and agent with Powerhouse today.
[contact-form-7 404 "Not Found"]