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 who made the move to 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," explained one expat living in Thailand.
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Other Questions:
- What should I pack when moving to Thailand?
- Where should I setup a bank account in Thailand?
- Will I be able to find a job in Thailand?
- What is life like in Thailand?
- What do expats in Thailand appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Thailand?
- Is there a lot of diversity? Are people in Thailand accepting of differences?
- What are the schools in Thailand like?
- What are healthcare services like in Thailand?
- What are medical services in Thailand like?
- Are healthcare and health insurance expensive in Thailand?
- What are emergency services like in Thailand?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Thailand?
- How are local medical facilities in Thailand?
- As a foreigner living in Thailand, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
Should I buy or rent a home in Thailand?
If you live in Thailand, newcomers to Thailand would love to hear your answer to this question.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.