THAILAND RENTAL VS. THAILAND BUYING
The most important rule in real estate is a place, location, location. Thailand is no different. Nonetheless, as opposed to other western nations, rent in Thailand is significantly smaller and even a bargain. The average rent for a one-bedroom city center apartment in Thailand is about 13 000 Baht (427 USD), with prices decreasing as you move farther out of the city center.
Before settling on a location to call home, there are a few things to consider. Do you want to live in the city or on the outskirts? What kind of room are you asking for? Do you depend on public transportation? What sort of amenities would you like to see included? Rent is normally more costly in larger and more popular cities, as it is in any other country; however, great rentals for a great price can be found in low-key but popular ex-pat cities in the north, such as Chiang Mai and Chiang Rai. It seems that the more south you go, the more expensive rent becomes. By compared the overall cost of living in Chiang Mai to Bangkok (the capital city of Thailand), rent is almost a third lower (28.14 percent less).
Apartments, condominiums, townhouses, and detached houses are only some of the options for lodging. Condominiums are typically the most common among ex-pats because they are well-maintained and have excellent amenities such as pools, gyms, saunas, and other social or entertainment areas that give everyday life a hotel-like feel.
Many rental properties come completely furnished with all of the requisite household appliances. Utilities are normally not included in the contract, and renters should be aware that utilities can be very expensive depending on where they live.
The rental process is typically simple, and rental agreements between tenants and landlords can be stated ‘casually.' However, tenants can still ensure that they are protected, so it's a good idea to have a real estate agent read over or, if necessary, draft a lease agreement between tenants and the landlord to ensure each party's responsibilities and obligations, particularly if the landlord is a landlord.
It's difficult to get to know the landlord ahead of time, but learning whether or not they speak English fluently will help you in the long run. When it comes to property upkeep or any other responsibilities from either side, good contact between you and your landlord will reduce the frustrations of language gaps and miscommunication. Maintaining a positive relationship with the landlord will also help visa and other official procedures go more smoothly, as the landlord would be required to supply the tenant with supporting paperwork for visa approvals, work permits, tax certifications, and so on.
THAILAND PROPERTY BUYING
Non-Thai nationals are well aware that purchasing property is expensive, so the simple method of renting is almost always the preferable option. Foreigners are unable to own properties, but they will own interest on it by first securing a long-term lease on the land. This lease has a maximum term of 30 years and can be extended twice by 30 years each, for a total of 90 years.
Foreigners, on the other hand, may purchase condominium property under their own name. Foreigners are only allowed to own up to 49% of the condo's overall purchasable area. When you own a condo, you would pay a CAM bill, which is a property tax. This CAM charge (Common Area Maintenance fee) is a monthly fee that covers the condominium's management and general upkeep.
Before making any official decision on a long-term leasing deal or acquisition of any property in Thailand, it is highly recommended that legal advice be obtained right away.
See the full article here
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ABOUT ME: Hi, I'm Scott Paul, I've been living, working and enjoying Thailand for my last 18 years. My goal is to assist, educate and share my experiences with you in finding inexpensive real estate in Thailand. Reach out to me if you're looking for something considered a "bargain" property, bank repo, distressed property, etc. My connections in Real Estate across Thailand are extensive. I'd love to hear from you and if we can help you I'm happy to discuss it with you.
Email: scottriefler@gmail.com
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