Checklist for Buying a House in Myanmar

Checklist for Buying a House in Myanmar

Are you planning to buy a new house?

Buying a new house is a big decision as it involved a huge amount of finances purchasing the property which makes it a highly significant decision to make.

It is a tough decision consisting of stress as well as excitement at the same time. While the decision of which house suits you completely depends on the person as per his need.

There are several important elements that you will have to keep in mind…

Below is a checklist of basic elements you can considered before making any final decision about buying your dream house.

Use a reliable realtor

One of the important things that you need to look out for is a trusted estate agent!

As property in Myanmar is already considered very expensive it is good to do some research.

There are a number of websites (eg. that can also help you out in getting information about the properties available in Myanmar as per your requirements.

Remember the contracts and agreements

When you are going to buy any of the property, keep in mind that you will have to sign a contract.

The contract will be an agreement of certain terms in between seller and buyer of the property.

It is better to read the whole contract before signing it.

Look out for those terms and conditions that are in favor of both the parties.

House you can afford

One of the major elements that you should keep in your mind before deciding for any of the house is your budget.

It is recommended to go for the property that is affordable to you.

Your expenses must be in balance with your income. If the house is very expensive, then you will face a hard time in paying the money. Set your budget that you can spend on purchasing a house and then look out for such a property that falls within that means.

Complete inspection

As buying a home is a big financial decision, therefore, a simple 30 minutes visit is not enough for making any final decision.

Take your time in inspecting everything present in the house.

Look out for the area around the house. Leave no corner of the property unchecked.

You may consume a great amount of time in inspecting all these but your house worth this time.

Take your time

House purchasing is not an as easy task as it seems, it will consume much of your time. Even if you liked any house, think twice before making the final deal.

Do not make the offer right at the moment when you are interested in any property.

Shop around for home insurances and mortgage.

Just look around at all the aspects and then go for your dream house.

After all, it is your dream house, the place where you will spend rest of your life. Therefore, make the best decision and you will never regret. 

Ashley - freelance writer

Myanmar Real Estate Exchange

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