Hello one and all ๐
Would really appreciate your views on purchasing a property in Thailand, namely a villa to be used as our own forever home
If we find a rental villa that is as near to perfect for our needs (location/ lovely immediate area, good transportation network, pleasant local community etc) if we were to rent it every year, itโs fair to say the rental costs will increase (potentially each year)
Add the cost of renting for say 25 years, it soon adds up, then add into the equation the owners could tell us to leave at short notice
Purchasing such a property should give us some security and long term could (I think hence asking) work out a lot cheaper
Other than than in years to come your visa being revoked/ refused is there anything else I should consider. I know as foreigners we are not allowed to own the land so I guess it would be a leasehold arrangement ๏ฟผ
We are not the sort of people who want to keep moving, once we have found an area we love, we typically settle long term (current home 30 years)
So, please, what are the benefits and pitfalls of purchasing a property in Thailand
Thank you
TLDR : Answer Summary
The discussion revolves around the pros and cons of purchasing a property (like a villa) in Thailand for personal use, specifically for expats. Some commenters point out that foreigners cannot own land outright but can own a condo if less than 49% of the building is foreign-owned. Others caution against buying due to potential financial pitfalls, such as poor construction quality, maintenance costs, and legal challenges. Renting initially is often recommended to test the desired area, providing flexibility without long-term commitment. Additionally, many emphasize the need for thorough research on local legal conditions and property market trends before making a purchase.
