Buying a house can be a complicated thing to do in Cambodia. Before you’re fully decided, you want to own a house, ask yourself a question first “Are you ready to take on any challenges of buying a home?” Well, buying a house does need many requirements, and efforts.
Having no ideas about buying a house, make sure you read our recommendations below before you jump in:
1. Start saving money as much as you can
Buying a house might be the biggest financial decision you’ll ever make in life, so before you take the plunge you must be sure that your finances are solid. Starting saving money is the first and basic step that people who want to buy a house start doing it.
2. Find the right real estate agents
Once your finance is ready and enough, the next thing you should do is to find the estate agent. A real estate agent represents you and helps you perceive a way to obtain a house. Your agent can show you properties, write a proposal letter on your behalf and assist in negotiations. Assets agents are native market specialists and may additionally advise you on what quantity to supply for every property. Asking your family members, friends, and those who are experienced in buying a house are also considered the real estate agents as well.
3. Start house hunting
Your agent can assist you seeking for houses with the amount of your budget. It’s a very good plan to create a listing of your priorities, a number of which could rely upon what you’re trying to look for a home. Things that you’re wondering about when hunting for a house may be price, home condition, number of bedrooms and bathroom, property taxes or value trends, access to markets, school, workplaces, and more. Before you decide which house that you make an offer on, make sure you see plenty of houses.
4. Make offer on a house
When you make a suggestion on a home, you have to submit an offer letter in writing or contrast paper between owner and buyer as many Cambodian people call it like that, to a mayor. The letter should include details about an agreement, signature between buyer and owner of a house, and also the prices you’re willing to purchase the house and additional. Most also offer deposit. The deposit could be a bit of cash, sometime could be deposited 50% of the original price.
How to buy a house in Cambodia
The price of a house is depended. If you are looking for a flat, the price should be around $60000+. If you’re seeking for a villa, of course the price is more expensive that a flat, and it should be from $500000+. Overall the median sale price of houses in Cambodia should be around $180000.