Categories: Property News

How to buy properties during an inflationary period

Purchasing a home for living purposes is not far off, especially during this inflationary period when the value of money is declining. Homebuyers must make a decision before purchasing when construction materials are more expensive, property prices are rising, and the ability to pay off debts is dwindling. On this occasion, FazWaz will provide you with helpful advice before purchasing property in this inflationary situation.

Promotion

1. Prepare some additional budget
Before making a decision, you should consider your ability to buy properties, whether you receive all of your income, and how much money you have set aside for the future. Purchasing properties with promotions or even fully furnished is one of the alternatives to purchasing houses or condos in this serious situation. During an inflationary period, the value of money decreases while monthly income remains the same, and homebuyers must purchase consumer goods at higher prices. As a result, financial planning is regarded as an essential component of perfectly maintaining the family’s liquidity.

2. The real estate prices are reasonable
Because of the serious inflation situation, the cost of construction materials is steadily increasing, prompting real estate developers to declare that the costs of new project developments will be increased to match the construction cost. On the other hand, the latest quarter’s real estate price index in Bangkok increased by approximately 1% from the previous quarter, which is considered a great opportunity for homebuyers and investors with budget availability, whether buying for living or long-term investing purposes.

Investing in the real estate market provides a future worth price

3. Investing in the real estate market provides a future worth price
Although real estate investment is considered somewhat costly, it provides excellent value in the long run because homebuyers can either buy for a living or rent out for a long-term stay. However, homebuyers should use a bank loan rather than cash to purchase properties during the inflation period, and they should use long-term fixed interest rate loans because there will be a period of rising interest rates during the inflation period.

The ideal location for massive future growth

4. The ideal location for massive future growth
Purchasing properties in golden locations that lead to future growth is regarded as the best plan because it provides the best value in case of necessity to sell as homebuyers could consider the location with comprehensive amenities, adjacent to job industries, shopping malls, and somewhere with mass transit transports passing through or the future construction plan of the mass transit system. It has been discovered that approximately 46 percent of the population is interested in purchasing a home in the suburban zone due to the expansion of mass transit transport through the area, providing convenient access. Furthermore, property prices in the suburbs are considered affordable, making it one of the most sought-after options for those looking for a place to live.

In fact, planning to buy properties for living is not far off, as the more preparation you have, the better you will be when making a purchasing decision, even though purchasing power is slowing due to economic conditions. However, good financial planning will make it easier for homebuyers, and keeping track of the economic situation is also important.

FazWaz News

FazWaz News publishes articles, trends and other updates about property markets across Thailand. FazWaz Property Thailand wants to help make sure buyers are well-informed about their investments.

Share
Published by
FazWaz News

Recent Posts

Bring Life To Your Home With Lighting Design

Bring Life to Your Home with Lighting Design When it comes to creating a pleasant…

1 month ago

Top 5 Innovation Trends Driving Real Estate Market in 2022

Since the COVID-19 pandemic spread around the world, it has heavily influenced the way people…

2 months ago

Nursing Home VS House/Condo for Elderly, which type is the right answer for retirees?

Today, Fazwaz is going to share interesting facts about the pros and cons between nursing…

2 months ago

Top Real Estate Developers Invest In Tech Startups For A New S-Curve

Top Real Estate Developers Invest In Tech Startups For A New S-Curve The real estate…

3 months ago

Grand Opening: The best period to buy properties

It is widely regarded as there are various periods on sale for buying properties, either…

4 months ago

4 Simple Home Decor Ideas for Valentine’s Day

Since Valentine’s Day is getting closer, I believe that many people are planning to surprise…

5 months ago