Should I buy or rent a home in Thailand?

If you have not spent a lot of time in Thailand, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"We bought a condo, but it is in are family name, then we went and bought another condo and put this in my wife's name - she is Thai. We had to pay cash for the condo, because you cannot even get a short term loan in Thailand. Even if you make 80% more than most Thai people coming in every month, the only way to get a loan is to be working even if you only may 10,000 baht a week, it's better than 200,000 baht in the bank," remarked another expat in Nonthaburi, Thailand.

"When considering buying a home in Thailand, it is important to consider your budget, desired location and any rental restrictions. Considerations such as investments and the likelihood of relocation should also be taken into account. Renting a home may be more appealing if you are not able to obtain a mortgage or are looking for a more short-term solution. Rental costs in Thailand are typically lower than costs associated with purchasing a property, however they do vary greatly depending on location, size and amenities. An advantage to renting is also the added flexibility it provides. On the other hand, buying a property in Thailand provides stability and the potential for increased capital gains. Whether you decide to buy or rent, it is important to do your research and understand the market before making any major decisions," said a member in Thailand.

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