We will start from the point where you have chosen a country you like. In this example it will be Thailand. In making your choice you will have decided whether you are buying a villa for a holiday home, as an investment, for retirement or maybe all three and you would have also considered many other aspects as well, such as the location, accessibility, climate, political stability, religion, economy, health system etc.
The Internet, of course, is a good place to start your research, but in no time at all you will be overwhelmed by the many websites you visit and the amount of information, in other words, to use a well known proverb, you can’t see the wood from the trees. Very apt if you are looking for a property on Koh Samui!
Exhibitions are one way of learning about up-and-coming villa developments. At these exhibitions you will meet all the developers who are selling their properties in exotic locations.
They will have fancy advertising brochures and videos showing white sandy beaches, girls in swim suits, lovers walking hand-in-hand along the beach, sunsets and romantic dinners for two and more, in fact pretty much everything that says luxury and exclusivity, except Sex in the Surf!
If you live in Hong Kong then sooner or later you will see advertisements for these exhibitions or if you have a relationship with one of the major estate agents you will be notified by post. Some exhibitions are exclusive to the developer and are held in hotel suites. These exhibitions are often launching a new development and therefore, a great opportunity to be the first in and buy off-plan.
Buying off-plan is not as daunting as it first sounds provided you follow some simple rules. Always remember that site plans can and will change over the period of construction. There may be many reasons for this including unforeseen changes in the land surveys, land topography, involving changes to the layout of the development, decreasing the sizes of plots and increasing the number of villas to be built and also, moving the position of facilities like a restaurant, spa and gym to different areas of the site. Interior specifications may also change and in some extreme cases a complete redesign.
Some of these changes may work in your favour others not. If they are small then I wouldn’t worry, but if they are big such as a change of design, for example, changing the design of the villas from, let’s say, Thai style to a modern design with a flat roof, then you should be thinking about asking for your money back.
Plans can be deceptive especially if they are an artists impression. Always ask for full architect’s plans with measurements.
What to look for... Layout of the villa is important and the relative sizes of the rooms. Ask yourself, are some of the rooms much bigger or smaller than the others? Are the proportions right? Does the swimming pool position and size look right? Is the sala giving you a view or obstructing the view? How close will you be to your neighbour? Are you over looked? This one is difficult depending on whether the surrounding villas are on the same level or above you on a rise in the land. Make sure it feels right for you.
When you have narrowed down your choice you will want to go on a site recce. Some developers will pay your travel expenses to visit their development, but this is unlikely unless construction is well under way and they already have a show villa for you to see.
By this time the early birds will have already purchased the best positions off-plan. However, this shouldn't put you off because not all sales reach completion, for various reasons, and the early birds may only have put down a deposit. Always ask in case a reserved villa becomes available again or at a later date. In other words, keep your options open and don’t forget the reason for wanting to buy in the first place, because the site and development is exactly what you are looking for.
If the developer is not footing the bill for your site visit, then take a holiday and check it out yourself. Go unannounced and wander around the site, if there is no construction going on, this way you will get a feel for the place.
Look at the lay of the land and imagine where the villas will be placed and the view they will have. Take lots of photographs.
Afterwards, look for the site office and speak to the site/project manager. He will give you a lot of good information and may even show you detailed plans of the site, including the plot where your villa will be.
If the site is under construction don’t wander around on your own, it may be dangerous, especially if there is a lot of heavy machinery about and trucks moving earth on the site. Instead, go straight to the sales office and make yourself known to the sales personnel. They will give you all the information and show you around the site safely.
Again take lots of photographs as you are being shown around. There will be a lot to take in and you will need to be reminded when you get back home of how the site looks and the general layout of everything.
Remember you are on a fact finding mission, so ask lots of questions and don’t leave until you have all the information you need including brochures, plans, specifications, dates etc.
Location. I expect you have heard this said many times before, but it is worth remembering.
You may have found the perfect piece of land with stunning sea views or a development to die for with magnificent villas, but it is miles from anywhere. How are you going to get there? Is there an International airport nearby or a private airfield? Do you have to get there by boat? If it is on a deserted island is there infrastructure or is it going to be constructed one day to far in the future to bother about? With global warming on everyones mind, what about sea levels? Will your paradise island be under water in ten years time? Are you really looking for a celebrity hideaway that no one can get to except the very rich?
These are just some of the questions you will need to ask yourself before you get carried away and sign on the dotted line.
This is a tricky and one best left to your lawyer to sort out. Did I mention you will need a lawyer?
In a lot of Asian countries, foreigners are not allowed to own land. However, in Thailand, for example, foreigners can own the building which is built on the land. Freehold land in Thailand is known as Chanote land.
It is best to learn the basics about land title yourself and then leave the details to your lawyer. Some property magazines, such as Property Report Thailand, give you legal advice in their pages.
Karma Samui Villa 14 | Koh Samui Island | Thailand
address
KSV 14 | Karma Samui Villa 14
80/32 Moo 5, Bophut
Koh Samui Island | Surathani 84320 Kingdom Of Thailand
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