4 Things You Need To Know Before Buying Your First Phuket Rental Property – Purchase your dream property in Thailand

Many people planning to buy a rental property in this paradise-like destination, tend to underestimate the costs involved. One of the best ways to work out the costs is to start at the end and work your way forwards. This then would include working out the return of investment you want, should you purchase a house for rent. Keep in mind that Phuket is already a prime spot for real estate, so use the 50% rule to work out your potential net income.

One should never be hesitant to approach an expert property agent from the area you are planning to purchase your property. As a local estate agent will be in the possession of all the knowledge and information you will need to know about the city. An excellent property agent will be able to advise you on aspects such as where the best villas in Phuket for sale are located, which properties will have the highest ROI for prospective landlords - Avadina Hills by Anantara for instance and which areas are the friendliest and also of any hidden taxes or fees. It's important to remember that when you choose to work with a professional agency, you will never have to doubt or second guess yourself.

Choosing the right house or condo for rent in the city is a must. If you happen to get it wrong, you are guaranteed to end up with an ongoing property that will drain your finances with no or limited return. So why not do it the right way. This way you could be making a passive income for a long time. In terms of Phuket investment property rentals, there are two types to choose from. One can opt to be a part of managed condominium complex or you can choose to manage the property yourself.

If you opt to buy into a managed condominium, then this responsibility will lie with the developer. General experience in the Phuket property management sector has proven time and again that buyers can achieve a better return on their investment if they engage with an estate agent to manage their Phuket investment property. This especially holds true for many landlords in Phuket that reside overseas themselves.

Don't expect to buy a property and start renting straight away. One will need to account for any extra work that might be required to bring the property up to the living standard expected in the new neighbourhood you bought into. Looking into creating a polished interior, having curbside appeal, along with an excellent range of amenities will no doubt work in your favour when it comes to finding tenants.