Housing

The first thing EVERYBODY asks is: Can I own property in Thailand. For Foreigners, the simple answer is no. Condo's are available to own outright, but property is not. Can you own the house that sits on the property, yes!

OK you ask, what's the deal? Thai law does not let a non Thai national own property, period. However, you learn that there are several ways around this, like many other countries that have similar laws. Some of these have changed recently and it is prudent to hire a good attorney that has experience in this area. There are many and they can best advise you of the alternatives.

The old school will tell you to just start a company and run the property through this structure. NOT ANYMORE! Thai authorities are looking very closely at these corporations set-up to avoid Thai law.

A better way is to long term "lease" with option to buy if the law changes. (and they will eventually) Totally legal with no hassles. You can take out a 30 year lease with 30 year option. A good attorney can draw up the proper papers to protect you in ANY eventuality. You can buy, sell, rent, trade or do anything you'd do if you actually owned the property.

Of course if you marry a Thai, then you can put it in her/his name. You then obtain a lease arrangement from the Thai partner to you....just in case! Now you're covered. But please get an Attorney to do this properly. There are SO many cases that turn sour when the Foreigner assumes that his new Thai partner will remain with him forever, and he trusted her "uncle" to draw up the papers.

Conclusion: Just operate the same way you would at home. Get good advise, hire a good attorney, check things out and relax. Thousands before you are living a very good lifestyle for pennies on the dollar!

FINDING A HOME

Finding a home to buy, build, rent or lease can be something of a drama, if you don't have the time or patience to wait for the "right" deal. The old saying about, "location, location, location" is also true here in Thailand.

Most people that come to Thailand for their first trip, tend to head for the more popular "tourist" areas, as these are obviously well advertised and marketed in all the Thai magazines, newspapers, TV and Travel agents. There they find many upscale housing developments, beautiful beaches and incredible night life, restaurants, bars and entertainment. For some this is paradise found.

Others prefer the more sedate lifestyle in the "not so marketed" North and NE Issan areas of Thailand.

Needless to say, it takes time to explore the possibilities. We would NEVER suggest someone come to Thailand and purchase any type of property or home on their first trip. Come, stay awhile and explore. You'll need to learn the customs, housing areas, lifestyle differences, prices and types of ownership possible.

We will get into the "details" later on, but be confident that whatever you decide, it will be far cheaper than your current living expenses.

Can you find good quality housing in the 25,000 to 50,000 US dollars? You bet! If you're looking to spend 100,000 to 150,000 US dollars you can be assured you will able to find the 3 bedroom, 3 bathroom, Western kitchen, maids room and even a swimming pool, style of home.

Having said that, we're back to "location." It's just like home....it all depends where you decide to settle. Phuket and Samui will be very expensive (comparatively), to the NE or North areas. Bangkok, although expensive is far cheaper than comparable buys in Hong Kong, Singapore, Los Angeles or New York.

Many factors need to be thought through fully:

1. Do I need International quality hospital close by?

2. Do I need an International school nearby.

3. Infrastructure: electric; water; work force; roads; shopping; housing; rentals; schools;

These are just a few of the considerations you'll need to think about.

more to follow.....please check back or contact us directly. Go to the contact page or info@whyretireinthailand.com

www.coolthaihouse.com: Expat builders' guide. A non-commercial guide for expats building or buying a house in Thailand. Tips, articles and pointers along with reader submissions and articles.

RENTING

Many people prefer to rent, at least at first. This may even be the best alternative for you depending on your financial, social and age situation.

We've rented condo's in Bangkok, a small two bedroom house in Samui, a large 4 bedroom house in Ranong and now a townhouse in Nong Khai. The condo in Bangkok was the most expensive both in rent and utilities. We paid 30,000 baht monthly, plus, plus. In Samui it started at 12,000 and eventually went to 15,000 over two years. In Ranong we got a very good deal from the landlord at 6,000 per month. After 4 years, this had creeped up to 11,500 per month. (a very good deal for this type of house!) Now in Nong Khai we are paying 7,000 for a LARGE two bedroom townhouse with 3 bathrooms, a large kitchen, and great location.

Landlords will want 3 months rent up front, in most cases. Many will offer discounts if you offer 6 month or a year in advance. If you're renting from another Foreign person, you can expect some support and upkeep of the home. If you're renting from a Thai, you're basically on your own for any minor problem. We basically write this off as the rents are so cheap. However, don't plan to call your landload in the middle of night when the toilet plugs up. He MAY call someone to fix it the next day, if you can find him. Better to just handle it yourself and try to deduct from the next months bill. In most cases it will almost cost you nothing so it's normally not a big deal. We've never had any big problems.