Investment Insights

Questions to ask when viewing a property for the first time

BY Bridge Estate

Viewing a house or condo for the first time can be overwhelming. Sometimes we find ourselves getting so caught up in the excitement and potential of a new place that we forget to ask about important details that can affect our decision to rent or buy.

 

Save yourself the stress and write down a list of questions that you would like the property owner or real estate agent to answer before you leave the viewing. To get you started, we’ve compiled a list of questions we think are important for every new homeowner or renter to ask.

 

Questions About the Property
When you buy or rent a property, you are making a big decision. Not only will this space be where you spend most of your time, it could also be where you entertain, where you work from home, where you start a family. Therefore, it is important to ask as many questions as possible about any property you see in order to make an informed decision. Here are some important questions to ask when viewing a property:

 

  • How long has the property been on the market?
  • How many units or homes in the project have been sold already? Tip: This is especially important when looking at freehold properties in Thailand as foreigners can only own up to 49% of a property development.
  • What is the asking price? Tip: Ask about the owner or seller’s minimum price to gauge how flexible the negotiations will be.
  • How much will utilities cost? Tip: Ask if the house or unit is energy efficient as an added way to save on electric bills.
  • Have there been any other offers?
  • Is there parking? Tip: Be sure to ask if the unit comes with a parking spot, if there is a private garage or if there is street parking available.
  • Is the property pet friendly?
  • Are the walls sound proofed properly? Tip: When viewing condos, ask if it is possible to test the thickness of the walls by having one member in your party enter the neighboring unit and speaking or turning on the television. If you can hear simple conversations, the walls may be too thin.
  • Does it come partially or fully furnished?
  • Can changes be made to the property (i.e. painting, hanging artwork, etc.)?

 

Questions About the Surrounding Area
Your neighborhood and surrounding community can have a major impact on your living experience. Being close to public transportation, restaurants, schools, shopping centers and more can make a difference in your quality of life as well as the value of the property itself. These questions can help you get a better idea of the area:

 

  • What are the neighbors and neighborhood like? Tip: Visit a property on the weekend or after working hours to see the area at peak times.
  • Is there any new construction planned near the property?
  • Have property prices been going up or down in the area? Why? Tip: If you are interested in the property, research real estate trends in that area.
  • How far is the property from the supermarket, restaurants, malls, etc.?
  • Are there any parks or gyms nearby?
  • Is the neighborhood safe?
  • What is the traffic like?

 

Questions for Leasehold/Rental Properties

If you are interested in signing a lease – whether short or long term – it is just as important to learn as much as you can about the property, the owner and the details of the agreement you will sign. This list of questions will help you get more of the information you need during your showing:

 

  • Can the lease be extended? Tip: Ask about signing a multi-year lease from the start.
  • What are the annual fees? Can these be adjusted or increased without notice?
  • When were the most recent renovations to common areas?
  • How often is maintenance work carried out? Tip: Ask to see all areas and buildings within a development to check they all receive the same level of care and management.
  • Who owns the freehold?
  • What happens if I need to move out before my lease is up? Can I sublet the property?
  • How much is the security deposit?
  • How much is do upon signing? 

 

When viewing a property, remember there is no question too big or too small. Write down your thoughts as you walk through the house or condo and also after you leave. It is important that you are 100% confident in your decision before renting or buying, so be sure to follow up with your agent if something is on your mind.

 

As always, our team of seasoned agents is happy and ready to assist you with any queries you may have. So, let us know how we can help.

Share This Article
Back to Archive