Before you start looking
Even before you start looking, it’s good idea to think about what kind of house will fit your present needs- as well as your plans for the future. We have included a checklist which will to help organize your priorities before you start looking. It could save you time and money in the long run.

What can you afford?
How much you can afford to spend on your new home depends on at least three things-the amount of money you have saved already, the amount of money you need to borrow and the amount of money you can afford to repay on a regular basis. At Bangkok Bank, we can lend you up to 80% of a home’s valuation. Depending on your income and whether you intend to occupy the home yourself (i.e. not rent it out), this may mean you need as little as 10% deposit.

Looking for your home
Buying a house involves large amounts of money, so be sure to think carefully about any negotiation with your housing projects. Don’t be afraid to try and bargain down the price of a home you’re interested in. After all, every Baht you save is a Baht you don’t have to earn and sometimes a vendor is prepare to accept substantially less than the advertised price.

Remember, it’s important to also find out the independent value of the property. The vendor’s asking price may not equal that value and the price you negotiate may still be higher than the actual property value.

Seeking professional advice
When you find the property you want to buy, work out the terms of the sale with the vendor and prepare the contract.

The contract must be in writing and will be either a Conditional Agreement or an Unconditional Agreement, depending on the terms of the sale.

In addition, most vendors will require that you pay a deposit or down payment equal to a percentage of the purchase price (usually up to 10%) when both parties have signed the agreement. This deposit money is held in the real estate agent’s trust account and is usually fully refundable should be the conditions of a conditional contract not be met by the due date. However, once conditions (if any) have been satisfied and a contract become unconditional, the deposit is no longer refundable, but will be credited to the purchase price on settlement.

Home Buying Tips

There are many key considerations in buying a new home in Bangkok. However different home-buyers have different lifestyles and priorities. Three main criteria that buyers should look at include the location, the housing project overall and the housing unit itself. The following are basic considerations under these three main criteria.

1. Accessibility to the inner city:
   To many homebuyers, one important factor in selecting the house location is accessibility to the inner city where quality facilities and infrastructure are available, i.e. hospitals, workplaces, schools and shopping centers.
   
   As land prices are more expensive nearer to the city center, most housing projects tend to be located beyond a 10 kilometres radious from the center. In order to shorten the travel time to the city center, homebuyers should ensure that the selected housing project is located near transport infrastructure linking to the city center such as an expressway, bypass or mass-transit route. 
   
   
2. Nearby facilities:
   One of the most important facilities nearby a chosen housing project is the hospitals or medical service. Depending on the lifestyle of the homebuyers, other facilities could be a supermarket, sport complex, bank, police station, etc.
   
   
3. Avoiding nearby pollution:
   Homebuyers should ensure that the selected housing project is not located too close to pollution sources, for example, heavy factories, dump sites, heavy-traffic highways or railways (noise pollution).
   
   
4. Avoiding usual flooding areas:
   Buyers should avoid areas that tend to flood regularly. The main road to the selected housing project should be above the high-water level, and the road inside the housing project should be at the same level as the frontage road.
   
   
5. Central management services:
   Many homebuyers prefer a house in a housing project to a stand-alone dwelling because of the central management services. A good housing project should at least provide the following services:
   
   
   • 24-hour security. Some projects may provide modern security systems such as key card, security intercom or closed-circuit video;
   • common area cleaning;
   • regular garbage collection;
   • regular common area maintenance;
   • other services are optional such as a mini post office, laundry, gardening and technical services.
     
     
6. Common facilities:
   In comparing housing projects, homebuyers should not only look at the quality of the house but should also examine the quality of common facilities because they contribute to house prices.
   
   Due to the economies of scale it can achieve, a larger housing project tends to provide more and better central facilities than a smaller project.
   
   Normally, common facilities include a large but not deep swimming pool, children’s playground/park and clubhouse. Some projects may provide a fitness center, tennis court, basketball court, convenience shop, etc. 
   
   
7. Pricing versus product:
   Home buyers should not only consider the house and land area when compare house prices but they should also check:
   
   
   • Common area facilities and their ratio per housing unit;
   • Road width and footpath quality 
   • Project landscaping 
   • Housing measurement - Homebuyers should ensure that the net area is measured correctly. In some cases, inexpensive construction such as an on ground walkway is included in the sales kit, and could mislead incautious homebuyers;
   • Extra house specifications, i.e. electricity backup, termite control, energy-saving measures;
   • Fencing materials; 
   • Quality, grade and size of material, i.e. grade A ceramic tiles, 
   • Other special packages, i.e., landscaping; 
   • Quality of sanitary-ware.

Arranging Finance


How much will the bank lend?
You can easily find out how much you can borrow by visiting any Bangkok Bank branch, contacting our marketing officers in your area, calling Bualuang Phone on 1333 or visiting our website at www.bangkokbank.com.

How much can you afford to borrow?
The amount you can afford to borrow depends on your reason for applying for the loan, the housing type, and your ability to repay the loan. The bank will consider your occupation, income, and the value of the collateral offered to see whether you qualify to borrow from us.

Increase your loans
At Bangkok Bank, you can apply for increased loans. This amount of loans will be granted by considering the mortgage value and your ability to repay the loans. Furthermore, you can ask for more loans as the fire insurance premium or the mortgage insurance premium under the same criteria as applying for the loans.