Purchasing property is a major commitment and is something that you should carefully consider before entering into any contract. Therefore it pays to make sure you have a robust investment strategy from the outset. Here is our advice on property investment strategies in Cambodia.
Property Investment Strategies in Cambodia
There are no sure fire guarantees to developing a successful property investment strategy, but if you follow the following tips you are more likely to be successful.
1. Establish Your Budget
It might seem obvious to many, but key to any successful property investment is to establish what you an afford to buy and what you can not. There is no point either chasing an impossible dream, or saddling yourself with so much debt that you can not afford to live. Once you have established you budget, stick to it.
2. Decide Your Priorities
We are all different with our own priorities. Establish at the onset whether that third bedroom is a priority or perhaps you would prefer off-street parking, or a modern kitchen. One of the advantages of purchasing a property in a new borey development, such as at Borey Williams, is that you can choose the features that best fit your requirements before the home is actually built, avoiding any expensive retrofit.
3. Choose the Right Borey Development and Developer
If you purchase a new development, when they are just breaking ground, you will discover the best deals. However, we strongly recommend that you don’t just go for the cheapest deal around. In Cambodia it is very much true that you get what you pay for. If it is too cheap to be true it probably is. You don’t want to be stuck with a property you don’t want, and can’t sell.
It’s best to buy from a developer with a solid reputation and one that is legally compliant. It might cost you a few dollars more, but it is worth it in the long run.