A Short Guide to Buying Property in Thailand
In 2016 Thailand saw almost 33 million visitors flock to its sandy shores, with a number of those guests revisiting multiple times. Understandably it is very difficult to resist falling in love with the lush tropical climate, the kind and warm culture, the friendly people and the breath-taking natural landscapes. Some of those visitors even went as far as to buy a property in the country with the prospect of potentially retiring in this beautiful Kingdom. That being said, as attractive as it sounds; foreign ownership isn’t exactly the simplest of endeavours.
Some expatriates who have little or no family obligations are able to retire whenever they desire. However, when you are deciding on where you wish to retire and spend your twilight years there is much for you to consider.
The most important of all if you ask me, is the climate! I don’t know about you; but the thought of retiring to somewhere with snow doesn’t sound ideal. You will also have to bear in consideration the cost of living – will your pension comfortably cover you? Language barrier; security; political stability; the overall quality of life; medical facilities available and suitable accommodation – these are just some of the questions that you must ask before making the move to another country.
While Thailand isn’t perfect, it certainly isn’t far off, as many of the above boxes have been ticked! There is a wealth of quality developers in Thailand so there is certainly no shortage of attractive investment opportunities. In fact, all over Thailand in places such as Bangkok, Phuket and Pattaya there is always a number of developments on the go.
So which is the best? A house, villa or a condominium? The options are endless, each with their own benefits. Many people opt for the condominium unit as they are much cheaper. That being said the process is much more complex, given that foreigners are unable to own Thailand and property outright. The assistance of professionals is generally required if you are going to be able to pull it off without a hitch. The important thing is to ensure that you fully understand the documents that you are signing.
And then there is the permutation side of things. There are costs and official fees included, plus tax. There are also the recurring costs of living in a condo unit such as electricity, water and management fees which you should bear in consideration. But don’t let this all put you off! Provided the due care is taken and you are thorough in your research; moving to Thailand is an entirely viable and wonderful opportunity.
All in all, there is much to consider, though ultimately it is always worth the effort. The opportunity to move your life to a new and exciting place with boundless opportunity, relaxation and culture. Again, there are many quality developers in Thailand building some truly magnificent properties with a wealth of stunning and attractive features and amenities. Take a chance and make a change!
