Advice please, villa purchase - freehold or 30 year lease?

[VincentD]

Both property acquisition and marriage are a bit of a minefield here. If you rent, you'll have the upper hand. If you lease, you've made a commitment but there is an end in sight. But once you take the plunge, be prepared to leave everything behind in the hole you've just dug..

[404cameljockey]

Both property acquisition and marriage are a bit of a minefield here. If you rent, you'll have the upper hand. If you lease, you've made a commitment but there is an end in sight. But once you take the plunge, be prepared to leave everything behind in the hole you've just dug..

We stayed in Dubai for 12 years, and I calculated that if we stay in Thailand for even ten we'd definitely be better off buying, and take the 'risk' that we will even have something to sell at the end of it. Plus we don't have crazy landlords to deal with every year.

I know that mileage varies as far as pundits on web forums worldwide goes, on every topic under the sun, so I'll take my chance, but thanks for the input.

[jungle]

"Don't do it !!!. or at least rent for a year or so until you are sure this is what you want. i agree with VincentD it is a minefield but at least you can walk away from a rental. If i were to build a home here again " which i would never" i would want to be on site most days. Some of the build work quality can be shocking !

[VincentD]

The post was meant to be tongue-in-cheek but there is a lot of truth in it.
As a non-local couple, your best bet is to buy a decent up-market condo as you can own this outright without any hoops to jump through. It will also probably be easier to sell once you decide to do that.
Only Thais can own landed property, and even that has conditions where ownership of land and ownership of the house on said property can be exclusive of each other. I'm assuming this came about when houses were made of wood and could actually be removed from said property.
Remember, once the commitment is made bad neighbours tend to come out from the woodwork, just like obnoxious relatives.

As I am married to a Thai, I have already filled in both holes and have a headstone in place. The only thing I will need eventually is a suitable epitaph.

[centermid7]

No way would I suggest that anyone come here and buy any property of any sort - condo, house, etc. - via any means without living here for a good long while before hand.

You seen set on doing so however with all the "due diligence" and the lawyers which can all be done later when you really have a handle on Hua Hin and Thailand.

Good luck.

[Nereus]

The freehold is with the developer (who have a British director),....................................>

I guess it must just be me, but how can anything be "freehold" when all that you have is a lease, be it 30 years,
99 years, or until the cows come home?

Nobody has mentioned a "Usufruct", which does give you a bit better security, but still not freehold.
The only freehold in this country is with a Condominium.

[HHTel]

The freehold is with the developer (who have a British director),....................................>

I guess it must just be me, but how can anything be "freehold" when all that you have is a lease, be it 30 years,
99 years, or until the cows come home?

Nobody has mentioned a "Usufruct", which does give you a bit better security, but still not freehold.
The only freehold in this country is with a Condominium.

They have a lease but the land is owned by the developer (freehold). Land can be sold freehold (not just condos) but the 'owner' must be Thai or a registered company.

[Nereus]

Call it what you will, but the land is not freehold to any foreigner, even with a Thai company. (Amity agreement excepted) And the OP has stated that they are both British.

[404cameljockey]

Call it what you will, but the land is not freehold to any foreigner, even with a Thai company. (Amity agreement excepted) And the OP has stated that they are both British.

HHtel understood me, the developer is a Thai company and they own the land, so they have the freehold. I didn't mean that a British director of the company himself owns any land.

[StevePIraq]

Cameljockey, just one final word of caution. Do not expect to be able to sell your new home for a profit in a few years as would be the case in most western countries, here used homes are very difficult to sell let alone make a profit on.

I assume by your name you have spent time in the Middle East, where about?

[StevePIraq]

The freehold is with the developer (who have a British director),....................................>

I guess it must just be me, but how can anything be "freehold" when all that you have is a lease, be it 30 years,
99 years, or until the cows come home?

Nobody has mentioned a "Usufruct", which does give you a bit better security, but still not freehold.
The only freehold in this country is with a Condominium.

I have a Usufruct on my property and the land owner cannot sell without my approval, I have 30 years of unrestricted undisturbed use of the property.

[jingjoe]

If OP holds house for 10 years and does little upkeep and sells it even for a slightly lower price than he paid, he may be in front or at least square on the rent he saved, especially in a low interest rate world,. I sold my house for about the price I paid for it, but had 3 years free rent and made 17% on the currency when I sent it home. Plus the enjoyment of your own home is quite nice. I didn't get any interest from western purchasers as the market is so short of buyers, but got lucky with a thai buyer.. I drove past my old house last week and noticed they had cleared the land next door, the new house if a 2 storey will look straight into my garden and pool... I think I got out just in time.

[StevePIraq]

Er so this is good advice to an owner, get out quick before you lose out.

A property market should be sustainable. The Thai property market especially used homes is not sustainable.

[JW]

Most resales properties get back the original purchase price, so long as the house is taken care of. If you have a resale property and you find someone who wants to buy it make sure you do everything to get a deal done . Who knows what the future will bring, demand here remains steady and as land close to the centre continues to increase in value property could see some value increase.

[StevePIraq]

JW, I'm not so sure with your thinking, there have been numerous posts on here about people finding it very difficult to sell at almost any price. I most certainly cannot get my original purchase price and I have spent a fortune on the garden, include all furniture, water filtration system and so on, I cannot even get near what I paid. I also know others with exactly the same issue, they sold at a loss from original price just to close the deal.
Of course we all wish this was a western property market but it is not in my opinion, it is a market flooded with new homes and condos.