Buying Property in Thailand for Foreigners: 7 MYTHS ABOUT PATTAYA- You shouldn’t believe!
BUYING PROPERTY IN THAILAND FOR FOREIGNERS
Buying Property in Thailand for Foreigners. The Land of Smiles – a big, bustling country that’s home to some of the friendliest people, most beautiful beaches and tastiest foods in the world. Yet for many of those who intend to come travelling here, they may have heard things that speak to the contrary. Whilst some may have fragments of truth, others are completely unfounded. It can be hard to separate fact from fiction on the Internet, so here’s a list of the top 7 myths you shouldn’t believe about Thailand.
1. Western- lifestyle is not viable.
Totally false. We all have our own standards of living in our own comfort zone and somehow many westerners worry that if they move to Thailand they’ll lose the lifestyle of ordinary comforts they take for granted back home. It all depends on how you want your life to be, there are entire suburban communities made for Western-style living that come complete with security guards and pools.
City life is best if you’re after necessity, for instance- Thai supermarkets carry Western groceries.
Cinema, coffee shop fast-food chain, hospitals and franchise of 7/11 or family marts all over.
Bottom line, know your homework first before relocating, make sure you can see yourself retiring or staying a longer period of time in a particular place. Common sense won’t give you harm but learning the pro’s and con’s is the best way to adjust to a new environment.
2. Properties in Thailand are Tacky
As with any property anywhere in the world, you get what you pay for. Research does some econosense. If you are unsure of the quality of the place you are getting, find a trusted builder through word of mouth and ask them to do an inspection for you. Remember, there are so many things that go wrong after a new building has a year or two on it, so buy something already established, not new. Locksets can fail, leaks can develop, shoddy wiring will show itself. Ask around the ex-pat community and find a person who can inspect it or a real estate agent whom everyone speaks well of for the best result of a good investment.
3. The utilities are unstable
Well, they take some getting used to–true. You don’t pay them as you do back home–most times you will go to a convenience store to pay them or pay your landlord outright, but it’s not so bad. If you’re in a condo, you’ll pay at the front desk and it’ll be a bit more than the utility company but it shouldn’t be enough to make a huge difference in your budget. Going out for gas takes a little getting used to if you have a gas stove, that is… you have to pay a deposit on the canister, but that’s about it.
As far as the water goes, most Thai households use an underground storage tank so it is recommended you get a water delivery service for your drinking water. Other than that, it is fine to use.
4. Education for my kids won’t be as good as back home
Again, not true. Of- course as English isn’t the primary language of Thailand, you will have a limited choice of schools. But the foreign schools are quite nice and work on the international baccalaureate credit system, the same as all over the world and particularly in Europe. Your high schooler’s education will cost you roughly 600,000 baht a year–so it’s not cheap to go to one of the better international schools. However, it would be considerably more expensive in the States or back home for a school of the same quality. You have to consider transportation and food are separate costs and must be accounted for. For more information on the cost of going to school in Thailand, see here (future article).
5. The roads are dangerous
It’s true that crossing the roads can be a challenge, as can navigating them on a motorbike or scooter, but providing you’re taking the necessary precautions then you should be fine. Like in any country, driving a vehicle under the influence of alcohol is an illegal and bad idea, as is driving without a license. If you know how to ride a motorbike, have a license, are wearing a helmet and are sober, then you should be fine, and insurance should cover for any potential mishaps you might have.
6. Everybody is poor
Poverty exists in Thailand as it does in any other country, but the assertion that all Thais are poor is wrong. The middle class is growing and you’re bound to spot luxury cars and well-dressed men and women using the same shopping centres that you might not be able to afford. That said, it’s always good to be generous, and a small tip in any restaurant or coffee shop is bound to go further than it would back home.
7. Tourism is on the Decline
If you read a lot about Thailand online, you may have been advised not to invest in property in Thailand because tourism and builder investments are on the decline. This isn’t true. Tourism from Russia is on the decline due to the downturn in the petroleum markets. But the Chinese are arriving in droves, more than ever. Tourism in Thailand is up 222% since 2001, with arrivals going from 24.81 to 32.59 between 2014 and 2016 alone. If you’re looking to get on the property leader in Thailand, now is the time when condos that were abandoned in the Russian recession are being finished and sold off for a much lower price.
Great beaches, cosy climate with a lot of tourist attractions, one of the many that Pattaya has to offer. As well as nearby restaurants around that serve cheap delicious native Thai food. If you’re in Pattaya COME and visit our office. We will be delighted to show you around our projects and give you full information about the benefit you could get for your secure future! Global Top Group offers Property Condos PRE-SALE Price – especial promotion for the newest project. The good investment plan, after-sales service and many more.
Ways on how to Invest Real Estate Property in Pattaya
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