6 Tips for First-Time Property Buyers

Buying your first property can be a little stressful because of many factors, whether that is a good investment, questioning yourself if you can afford that, or just a stressful period of thinking about whether you are going to get the right one for you. Also, this is the most important investment that you make to solve your housing question.

When planning on buying, there are many factors that you should think of and that you should keep in mind. Some of them are financial because you don’t want to hurt yourself in that sphere trying to buy something that you can’t really afford at this moment. Also, whether you can allow yourself to get a loan for this occasion.

In this article, we will talk about some tips that you should imply when buying your first home.

Put money on the side

This is really important to improve your financial comfortability because if you don’t have something on the side you can’t be flexible if something happens. Since you will become a homeowner, some expenses have to be paid immediately. For example, if something gets broken you will have to fix it right away because it is your responsibility now. Having something saved will make you feel more comfortable and stable.

Putting money on the side is a great way to cover some of the unplanned costs that you might encounter. And there will be some, especially in the beginning. Since you are buying your property the firt time, you will most likely take a loan and having a kickstart by saving some at first will make you much more confident.

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Be aware of how much you can afford

When looking for a property in Koh Samui it is easy to overspend because the sellers are always doing the most. They will explain features to you that seem pretty cool but you can’t really afford some of them. So, before looking for a house or an apartment, understand how much you can spend to avoid additional problems.

It is essential that you don’t go over your limit. For the first property, this is crucial because you can easily get in debt if you aren’t careful. Planning your finances plays the key role and you need to be smart about your purchase.

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Ask your financial company for a loan

Before shopping for a property, you need to have enough finances. That is why going to your bank and applying for a loan is important before you go out and talk with agents. Keep in mind to look for options because you may find a better deal in another financial company with fewer expenses. With the money on you beforehand, you can negotiate the price better and you will end up with a better deal than you have expected.

Explore these options and don’t rush into it. Sure, the market is alive and people are buying/selling their properties all the time and finding one in Koh Samui isn’t easy, considering it is a destination known worldwide. Therefore, search for your home and explore different financing options so that you are ready to sign the contract and get the money right away. If you first find your home and then start the process with the bank, it might take too long and you can end up without your ideal getaway.

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Look for a location that suits you the best

This is important because you are not buying a home often. You should choose a location that works the best for you. Keep in mind that some locations are boosting up the price so you need to make your research before becoming an owner.

Do you want to get a home at the beach, or perhaps slightly inland? Also, you can get a property near the airport, go to the west or east part of the island. It is up to you!

Look if the property has some kind of damage

Before securing the deal, you need to make sure that the property is in great condition because you don’t want to spend more fixing it when you have already spent enough. If you see something that needs to be changed or fixed you can set the price down because of those expenses. Some companies offer this kind of service so you will know how much would cost to fix those problems.

This is simply something you need to estimate before the purchase. If you find any damage, you might want to calculate how much you would need to fix it and perhaps lower the sale price a bit. However, most people are looking to do as little as possible from the moment they walk inside their property. They want the major things to be sorted out, which is understandable, even if it means paying the higher price at first.

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Apply for an insurance

This is really important to be safer both financially and with a roof above your head. Something can happen that will become too expensive to fix, whether that is a leakage that will destroy your floors or other expense, the insurance will have you covered. Keep in mind to find deals that offer the best insurance that you can find for a certain amount of money.


When you are buying your property for the first time, there are a lot of factors to conside, much more than we have listed here. However, these are the major ones that you cannot avoid, so hopefully, everything will turn out to be alright.