You are correct in leasing the land. For your lease to be valid for 30 years you have to have the lease in your name. After you have the lease you have to go with the property owner to the local land office and have the 30 year lease registeted on the chanote, or deed. That would cover you for the land. Then to own the house you also need to have a right of superfices also put on the chanote, or deed to own the house. Only then are you completely covered and can't be thrown out. If there is a new owner in the future the new owner is legally required to honor the lease for the full duration. Also there is only a 30 year lease, renewals are not automatic. This is according to the Thai land act, section 540. The lease can be renewed again at the end but has to be agreed to by both parties and re-registered on the chanote, or deed.
But as I questioned before , what if the owner in 30 years does not want to renew the lease .? Do you lose your house which you were probably leaving to one of kids. Or will the owner offer you a ridiculous amount of money to buy your house , fully knowing that if he doesn't renew the lease then you have to move out and he can knock it down.
@@BraveFartz if you are worried about leaving a house to children you are in the wrong country. You should be living where you can own land, or seek Thai citizenship. As for the lease, if the owner doesn't want to renew then yes, you would have to either sell your house to him, remove it, or just desert it. If you are older and won't outlive the lease what does it matter?
@@BraveFartz As far as we know at the end of 30 years they cannot sell the land and we cant sell the house. So the agreement is passed down to the respective families on both sides.
This is very good information. My husband and I are in Hua Hin now and thinking about buying a new construction home and have it ready by end of 2025 for us to permanently move here.
Hey Parkers, I'm so thrilled others are starting to catch onto one of my favourite channels. Your down to earth approach to life and video creating is an absolute joy. Hopefully the new mattresses are more comfy than the AI generated ones that came with the house. Highlight of my day is seeing a new video pop up from your guys, many thanks 🤗
Thank you for watching and commenting. You have been a great supporter of us and our channel and we genuinely appreciate it. The new mattresses are excellent!
Nice to see you all settled in your new house. It looks really nice and I hope you’re very happy there. I have found a reasonable rental on Soi 102 so I’m settled now as well.
Thanks for the family background story, guys - very interesting indeed. When I watch your videos, I see two honest and authentic people who are sharing valuable insights into purchasing a house and retiring & living in Thailand. Your work is appreciated. As for the 'funny' comment, welcome to the weird and wonderful word of the 'comments section'. Have a wonderful day and keep up the good work!
Renting villas in Hua Hin can be very inexpensive. There is an oversupply of empty villas in Hua Hin. You'll have the best leverage if you come during the rainy season and then you can negotiate a long-term lease at a great price. I've seen really nice 3 bedroom villas with pools for 25,000 Bt a month.
Fellow Aussie here, Thank You for this video, it explains something I couldnt find elsewhere. So to clarify, I could purchase a home there, not from a developer but a private Thai citizen and have a 30 year lease agreement drawn up with the original Thai owner for the land but still purchase the house ? I wouldnt want to live in a development/estate and would prefer something semi rural with a big yard etc. If thats the case them Im really keen on moving there, this was really the only thing holding me back as I didnt want a condo/villa etc. Also regarding Australia etc only having house and land ownership, thats not the case, here is SA where I live there are a lots of over 55 places where you buy the house but dont own the land, there is one 3 doors down form me. Thanks Again, Cheers.
In Thailand the house and the land are processed as two completely separate purchase transactions. You can buy a house from anyone you choose - including a foreigner - but obviously, you can only lease the land that dwelling sits on from a Thai. The foreign house buyer's long term land lease arrangement is finalised first. The lessor can be any Thai - a developer, private Thai citizen, builder, etc. Let's imagine your dream house / land package is listed at 5 million baht. The land office will determine the value of the land. Let's say in this example they value the land at 3 million baht. That means the dwelling is valued at 2 million baht. You pay the owner 5 million baht and that gets you the dwelling AND a 30 year exclusive lease on the land. There are no monthly land lease payments as that is covered by the 3 million baht you've paid. It works pretty much the same as it does in Australia EXCEPT that instead of holding a deed to the LAND you hold a solid 30 year renewable lease on the land. You own the dwelling in your name. You DO NOT need a Thai on the deed for the dwelling.
Foreigners can buy freehold "property" such as condominiums (up to 49% of condo building/project) and houses but not the land on which it sits, in Thailand. There are some very, very, very rare exceptions to this. Recently, the Land Department proposed to allow legitimate foreign heirs of landholders to inherit land. And depending on some investment schemes, foreigners can hold up to 1 rai of land for residential use or 10 rais for agricultural purposes. There are quite a few places in "Western" countries where lease-holding is common. The UK is a prime example; huge parts of London is held by trusts controlled by the Duke of Westminster owning the land on which houses, stores and businesses, that he does not own, are built. In any transaction, consult a licensed and reputable real estate lawyer. Creating Thai companies, using Thai nominee shareholders to own 51% of the company, can be considered illegal. Phuket is now (June 2024) cracking down on this activity, as lots of illicit activities are happening with these companies owned by foreigners using the nominee shareholders to circumvent the law. I suspect this scrutiny will move across the country soon, as land prices have increased dramatically.
New sub here. I’m also a YT’er, but in Taiwan. We made our first fam visit to Thailand last winter and loved it. Great video and home buying tips. I’ll shoot you an email this weekend. all the best
Hey guys, first of all many congrats on the new house, looks amazing!!! Just wanted to apologise as I said I would take you guys out for a meal in April but we all got the dreaded tummy bug which lasted for many days for some of us. We are back in July next year and will defo see you then!
Congratulations and best wishes with your new home. I have been considering the same myself in retirement in a few years time. I would be highly unlikely to be around by the end of a 30 year lease so assuming I have a property there that is part of my estate, I wonder if it is sold with the remaining time on the lease eg, 10 years, in which case it would be less desirable to many purchasers, or does the lease get renegotiated for another 30 years. Have you had and discussions regarding this?
Thank you for your comment. Please get your own Thai legal advice. We are not experts. Estate law in Thailand is something we know nothing about. Sorry, we are not qualified to comment on something as critically important as this. We have had no discussions with anyone on this matter because we don't care what happens after we die.
Rent your house out in your home country and us the funds to live in a nice house in Thailand. This is called opportunity cost! We are always tourist in Thailand. If they require medical insurance or screw with the O Visa your could have an issue in your latter years. If you got the money to spend no worries.. always have an exit plan ... we are only visitors. I know people who have spent most there life in Thailand with no worries, but always have an exit plan. Don't sell out in your home country - always have a soft or hard landing if you need to go back home!
I don't know which country you're from, but if you was from the U.K. there's no joy in being a landlord now that there are new rules in favour of the tenants .
That's why Thai authorities will not make health insurance mandatory on O visas. Older expats above a certain age can't get insurance, and there are quite a lot of them in Thailand. They are mostly self insured. This is never going to change.
Good morning! Could you please explain about permanent residency in Thailand? How can you guys stay? Do you need the permanent residency before buying a house?
On the matter of permanent residency and visas we suggest you contact a Thai lawyer or a visa agent. Siam Legal has a good website that explains about PR and visas. www.siam-legal.com/ We can stay because we have a visa that allows us to stay. We are just like every other foreigner who lives here. You can buy a house here on a 60 day tourist visa if you want - you don't have to have permanent residency. There are thousands of people who own houses here and stay for say 90 days at a time, go back home for a while then come back to Thailand and continue the cycle again.
Hey Parkers congrats on your beautiful new home good size of land how far your house from CHA AM beach and local market look forward more videos of new homes have wonderful day thanks for sharing 🙏
Thank you for taking the time to comment. Our house is approx 12 klms from the beach. We have a local 7/11 and hardware store 900 meters down the road. Also a little local restaurant which we are yet to try.
Thanks for your VERY valuable info re buying. We (my Thai partner and I) have built a house in Ratchaburi province, way out in the sticks, but I love Cha Am and plan to rent something there because it's way cooler (temp). I own and live in Hervey Bay QLD but plan to live most of my life in Thailand. Question: I'm not able to find your email address? Sorry :(
Thank you watching and commenting. Cha Am is a great spot as is Hua Hin. You can't access the email address if you're using a smartphone / iPad / tablet. You have to use a computer PC or Mac. This is a TH-cam issue.
Thank you for sharing. I've appreciated your videos. I've lived in Phuket for 2½ years, but I'm getting sick and tired of it. Moving up to Hua Hin in October with my thai wife.
I always laugh when I read about people complaining about busy phuket so moving hundreds of kilometres away. Most of Thalang District (which makes up the northern half of the island) is fairly quiet. Hua Hin is horrible every weekend when hundreds of thousands travel down from Bangkok
Very good to hear you both explain it I am irsh I hope to retire in 2yearsi want to retire in thiland the way I look at it is I will be 66if I get another 15years to live I won’t have to worry about the land I can’t take it with me 😊😊
I from Melbourne and have been married to a Thai lady who has been living in Australia for 16 years. She is an Australian citizen and does not under any circumstances want to return to Thailand to live permanently. Ironically I am 54 and would love to retire to live in Thailand in the next 5 years or so and being married to a Thai would make the process easier when it comes to owning land etc. Australia is getting way to expensive and our retirement would be much easier in Thailand.
@@HereComeTheParkersYes that would be ideal but we have 2 cats and my adult daughter is happy to stay at our place to look after them. The issue is they are my wife’s babies and she doesn’t want to leave them for too long. As long as I can at least escape the Melbourne winters I will be happy.
Hi guys, great house, great video. One question - can you confirm what amount would be required to be paid at the 30 year point to extend the lease? Is it a nominal fixed payment agreed in advance, is it the same amount paid at the beginning, or is it some sort of market valued amount?
Thank you for watching and commenting! It is not something we are concerning ourselves with because we will most likely not be in this world any more (90+ years old) when it comes around.
Thank you for the video, i have lived in Pattaya for 3 years and Im looking to buy a townhouse, i have done some research, but there is so much conflicting information. Do i have to start a Thai company?? what are the fees for that? And is there a yearly fee? IS it the same rules apply when buying a house??
1. You do NOT have to start a Thai company 2. We don't know what the company fees are but it is not required for you to start a company in any case. 3. There is usually an annual "common fee" for the property but NOT always. This fee is usually around 22,000 baht annually but it can very widely. The annual fee typically includes building insurance, security, lawn and pool maintenance etc. 4. Same rules when buying a house. (Some differences apply when buying a condo though.) Important to remember: foreigners can NOT own land in Thailand. Some farangs will tell you to start a company to own the land but this is illegal even though they may tell you it's not illegal and that's what they have done. A foreigner can not own land in Thailand even if it is (say) a 10% share of that land. The Thai government knows many foreigners illegally own land through a Thai company. The government has turned a blind eye to this FOR THE MOMENT. Please note we are not experts, lawyers or real estate agents. You need to get advice from a Thai lawyer or the Lands Office. Another point to understand: The purchase of the house and the purchase of the land are handled as two completely separate transactions in Thailand. Most foreigners can't get their heads around this fact. I hope this helps you.
Thank guys love watching your vlogs real down to earth Lots of interesting information Carnt wait to get there in acouple months I hope you’re real people lol if you know what mean Nice to get some information how you got there 😀
Thanks for sharing. My only question is how freehold can become leasehold. If any Thai person can issue a lease then they're wouldn't be a difference. Property developers may be given some special rights or the entire property market would open to foreign ownership via leases. Is that you're understanding, that only certain properties can be leased?
The entire property market is open to Thais and foreigners equally. Thais get to own the land the house sits on. Foreigners get to lease the land the house sits on (from a Thai person who owns the land). I guess there will be some sellers who do not wish to sell to foreigners but given that right now foreigners are the only ones with money and Thais are not buying it's not a great strategy. Remember we are only talking about the land here. There are no restrictions on foreigners owning the actual house.
@@HereComeTheParkers I guess you would need to ask the seller if they're willing to lease. It would be some extra work for them and I bet most Thai's never knew about leases. I've bought land recently but it's just in my Thai wives name so tied to the marriage and I bet I'm lucky to get even 50% if we split up. Never thought about leasing the land but I don't figure I could get away with that since i'm married. :)
@@HairyPixels well given that under no circumstances can foreigners own land it would follow that any separation will mean she gets 100% of the land. The house will probably get split 50/50 but I'm only guessing.
How much will the lease renewal cost? These things are rarely done without a charge. For the more unscrupulous landlords in the west, it's an opportunity, and if the renewal charge is deemed over the top by the lessee, then it's arbitration time.
What kind of guarantee do you have on that lease contract though? Say the owner of the land has a forced bankruptcy + liquidation. His bank can’t take that land from him? Your contract is protected from that? I get that it’s easy to setup the lease and purchase the home / pay for temporary use of the land but my biggest concern is over the lifetime of the lease, what are the potential ways it can be broken. None of those were covered
@@steampunk888yea when I watched the video I actually did some napkin math on it. It ends up being twice as costly as renting when you add in home maintenance, repairs, insurance, etc over the 30 years. Plus you are locked into one specific location. Financially it absolutely doesn’t make sense but from a peace of mind perspective and if you don’t need the money, I can see why people would do it. My napkin math ~ Based on 3% inflation 7.6m / 30 years rent 21.2k/month which is starting from 12.5k which is equal to 4.5m initial price of house and land today 4.5m initial cost to buy house / 30 year lease land. Opportunity cost of that 4.5m at 3% is 10.9m over 30 years Renting saves 3m thb over 30 years. That 3m compounded at 3% is 5.13 million (doesn’t include extra costs of owning a house, savings are likely 7-8million over 30 year renting vs owning Average home owning cost per month is 30.2k (owner needs to cover insurance, taxes, repairs, upgrades Average rental cost is 21.2k (renter pays no additional fees)
@@steampunk888 lose value in what way? They get the lease on the land for 30 years. They also own the structure and can do as they wish with it. I would think if you do the math it turns out far less expensive then renting and the person on the lease has full LEGAL protection for 30 years. They can't be evicted. How is this "pissing money away"?
What would happen if in 30 years you wished to renew the lease for another 30 years but the owner chooses not to renew and wishes to use the land for his family or relatives or sell the land , what would happen to your house then ? As far as I know legally you are covered for the 30 years but that is the end of that agreement.
Well we won't be here in 30 years. But we can renew it for our kids. If you are younger than us we suggest that you consult a lawyer. Thai laws change all the time so who knows what will go on.
Hi, I’m trying to find your email address but am having difficulty finding it. I’ve looked under the “about” section of your homepage but I can’t see it anywhere. Can you please point me in the right direction. Thanks.
The “About” section is only available if you access the channel on a desktop computer or laptop. It is not available on a smartphone or tablet. It’s a TH-cam thing. I don’t know why it’s that way.
You can't see the "About" section if you are using a smartphone or iPad / tablet to access our channel. This is a TH-cam issue and we don't know why it's like this. Every channel is the same not just ours. You have to use a laptop or desktop computer (PC or Mac).
The land is the part that retains value. The structure loses value constantly. All Thailand would have to do to safely encourage wealthy foreigners to come to Thailand is: 1. Restrict ownership to 2 or 3 provinces only, likely the tourist zones. 2. Impose large inheritance and transfer taxes on foreign owned property, which is generally how to insure that landed property is sold on the death of the owner, i.e., in order to pay the tax.
No offence , you look a nice couple , and I hope everything goes well for you in your future , but anything can be done with dodgy lawyers what might prove to be later . I was always under the impression that you have to have a Thai owning 51% of the build ( forget the land ) Just rent rent rent especially when you're getting on in life . To me renting is a no brainer . Also, nothing to do with property I know, but you could have your visas revoked for the smallest reason at anytime. I'm afraid if it was me i'd be on tenterhooks all the time.
Thank you for your comment. No that isn't true. Suggest if anyone wants to buy house and land to consult a lawyer. We own our house 100% and we have signed documents from the govt offices. We have however leased our land for 30 years. We can negotiate at any time to extend that to pass the house on to our kids if they want it. We have signed documents that our land cannot be sold under us. As for visas being revoked I guess you just need to do the right thing and obey Thai laws. Of course a lot of people prefer renting, We rented for two years and found the process frustrating most of the time.
@@HereComeTheParkers I would think that it's more about control, and retaining Thailand as a Thai country. I live in Vietnam, which being Commy, is pretty much the same.
Hey guys, you said that on your about Pages where your email is don’t see it. I’m the only thing I see is at here comes the Parkers but it says it’s an invalid email address. Could you send me your email address? Thank you.
The "About" button I mentioned is not available when you access TH-cam from a smartphone or a tablet. You have to use a desktop or laptop computer (Windows or Mac) to access the "About" button. This is a TH-cam thing. I don't know why it's like that.
You are correct in leasing the land. For your lease to be valid for 30 years you have to have the lease in your name. After you have the lease you have to go with the property owner to the local land office and have the 30 year lease registeted on the chanote, or deed. That would cover you for the land. Then to own the house you also need to have a right of superfices also put on the chanote, or deed to own the house. Only then are you completely covered and can't be thrown out. If there is a new owner in the future the new owner is legally required to honor the lease for the full duration. Also there is only a 30 year lease, renewals are not automatic. This is according to the Thai land act, section 540. The lease can be renewed again at the end but has to be agreed to by both parties and re-registered on the chanote, or deed.
Thanks for your comment. We did everything you mentioned. That's why we used a lawyer whom we have been using for years.
But as I questioned before , what if the owner in 30 years does not want to renew the lease .?
Do you lose your house which you were probably leaving to one of kids.
Or will the owner offer you a ridiculous amount of money to buy your house , fully knowing that if he doesn't renew the lease then you have to move out and he can knock it down.
@@BraveFartz if you are worried about leaving a house to children you are in the wrong country. You should be living where you can own land, or seek Thai citizenship. As for the lease, if the owner doesn't want to renew then yes, you would have to either sell your house to him, remove it, or just desert it. If you are older and won't outlive the lease what does it matter?
@@BraveFartz As far as we know at the end of 30 years they cannot sell the land and we cant sell the house. So the agreement is passed down to the respective families on both sides.
great details👍🏼👍🏼
This is very good information. My husband and I are in Hua Hin now and thinking about buying a new construction home and have it ready by end of 2025 for us to permanently move here.
That sounds like a good plan! We wish you all the best. Please keep us updated on your progress.
Good luck with that, keep ur eye on ur husband they tend to leave fat old ladies for younger browner and slimer ladies😅
Hey Parkers, I'm so thrilled others are starting to catch onto one of my favourite channels. Your down to earth approach to life and video creating is an absolute joy. Hopefully the new mattresses are more comfy than the AI generated ones that came with the house.
Highlight of my day is seeing a new video pop up from your guys, many thanks 🤗
Thank you for watching and commenting. You have been a great supporter of us and our channel and we genuinely appreciate it. The new mattresses are excellent!
Nice to see you all settled in your new house. It looks really nice and I hope you’re very happy there.
I have found a reasonable rental on Soi 102 so I’m settled now as well.
That's fantastic Lynn. Still hope to see you around at some stage.
Congratulations on your new home! Thank you for all the good information!
Thank you and thanks for watching and commenting.
Thanks for the family background story, guys - very interesting indeed. When I watch your videos, I see two honest and authentic people who are sharing valuable insights into purchasing a house and retiring & living in Thailand. Your work is appreciated. As for the 'funny' comment, welcome to the weird and wonderful word of the 'comments section'. Have a wonderful day and keep up the good work!
Thank you so much for your kind words.
Renting villas in Hua Hin can be very inexpensive. There is an oversupply of empty villas in Hua Hin. You'll have the best leverage if you come during the rainy season and then you can negotiate a long-term lease at a great price. I've seen really nice 3 bedroom villas with pools for 25,000 Bt a month.
True ! Thanks for your comment !
Fellow Aussie here, Thank You for this video, it explains something I couldnt find elsewhere. So to clarify, I could purchase a home there, not from a developer but a private Thai citizen and have a 30 year lease agreement drawn up with the original Thai owner for the land but still purchase the house ? I wouldnt want to live in a development/estate and would prefer something semi rural with a big yard etc. If thats the case them Im really keen on moving there, this was really the only thing holding me back as I didnt want a condo/villa etc. Also regarding Australia etc only having house and land ownership, thats not the case, here is SA where I live there are a lots of over 55 places where you buy the house but dont own the land, there is one 3 doors down form me. Thanks Again, Cheers.
In Thailand the house and the land are processed as two completely separate purchase transactions. You can buy a house from anyone you choose - including a foreigner - but obviously, you can only lease the land that dwelling sits on from a Thai. The foreign house buyer's long term land lease arrangement is finalised first. The lessor can be any Thai - a developer, private Thai citizen, builder, etc. Let's imagine your dream house / land package is listed at 5 million baht. The land office will determine the value of the land. Let's say in this example they value the land at 3 million baht. That means the dwelling is valued at 2 million baht. You pay the owner 5 million baht and that gets you the dwelling AND a 30 year exclusive lease on the land. There are no monthly land lease payments as that is covered by the 3 million baht you've paid. It works pretty much the same as it does in Australia EXCEPT that instead of holding a deed to the LAND you hold a solid 30 year renewable lease on the land. You own the dwelling in your name. You DO NOT need a Thai on the deed for the dwelling.
Hi. Just found your channel. Congrats on buying your new home in 'The Land of Smiles'😁
Thanks so much !
Foreigners can buy freehold "property" such as condominiums (up to 49% of condo building/project) and houses but not the land on which it sits, in Thailand. There are some very, very, very rare exceptions to this. Recently, the Land Department proposed to allow legitimate foreign heirs of landholders to inherit land. And depending on some investment schemes, foreigners can hold up to 1 rai of land for residential use or 10 rais for agricultural purposes. There are quite a few places in "Western" countries where lease-holding is common. The UK is a prime example; huge parts of London is held by trusts controlled by the Duke of Westminster owning the land on which houses, stores and businesses, that he does not own, are built. In any transaction, consult a licensed and reputable real estate lawyer. Creating Thai companies, using Thai nominee shareholders to own 51% of the company, can be considered illegal. Phuket is now (June 2024) cracking down on this activity, as lots of illicit activities are happening with these companies owned by foreigners using the nominee shareholders to circumvent the law. I suspect this scrutiny will move across the country soon, as land prices have increased dramatically.
Thank you for sharing your house hunting and now purchase videos. Very useful information. 🙏
Thank you and thanks for watching and commenting.
You are both so awesome..Loved your video, you both explain everything so well. I wish we were in a position to move to Thailand. Sounds wonderful.
The crazies would love it ! Although it is very hot.
New sub here. I’m also a YT’er, but in Taiwan. We made our first fam visit to Thailand last winter and loved it. Great video and home buying tips. I’ll shoot you an email this weekend. all the best
Thank You !
Hey guys, first of all many congrats on the new house, looks amazing!!!
Just wanted to apologise as I said I would take you guys out for a meal in April but we all got the dreaded tummy bug which lasted for many days for some of us.
We are back in July next year and will defo see you then!
No worries Jon. Nothing worse than getting sick on holidays !
Congratulations and best wishes with your new home. I have been considering the same myself in retirement in a few years time. I would be highly unlikely to be around by the end of a 30 year lease so assuming I have a property there that is part of my estate, I wonder if it is sold with the remaining time on the lease eg, 10 years, in which case it would be less desirable to many purchasers, or does the lease get renegotiated for another 30 years. Have you had and discussions regarding this?
Thank you for your comment.
Please get your own Thai legal advice. We are not experts. Estate law in Thailand is something we know nothing about. Sorry, we are not qualified to comment on something as critically important as this. We have had no discussions with anyone on this matter because we don't care what happens after we die.
Rent your house out in your home country and us the funds to live in a nice house in Thailand. This is called opportunity cost! We are always tourist in Thailand. If they require medical insurance or screw with the O Visa your could have an issue in your latter years. If you got the money to spend no worries.. always have an exit plan ... we are only visitors. I know people who have spent most there life in Thailand with no worries, but always have an exit plan. Don't sell out in your home country - always have a soft or hard landing if you need to go back home!
Perfect advice 👌
I don't know which country you're from, but if you was from the U.K. there's no joy in being a landlord now that there are new rules in favour of the tenants .
That's why Thai authorities will not make health insurance mandatory on O visas. Older expats above a certain age can't get insurance, and there are quite a lot of them in Thailand. They are mostly self insured. This is never going to change.
Good morning! Could you please explain about permanent residency in Thailand? How can you guys stay? Do you need the permanent residency before buying a house?
On the matter of permanent residency and visas we suggest you contact a Thai lawyer or a visa agent. Siam Legal has a good website that explains about PR and visas. www.siam-legal.com/
We can stay because we have a visa that allows us to stay. We are just like every other foreigner who lives here.
You can buy a house here on a 60 day tourist visa if you want - you don't have to have permanent residency. There are thousands of people who own houses here and stay for say 90 days at a time, go back home for a while then come back to Thailand and continue the cycle again.
Congratulations, it looks great.
Thank you! Cheers!
Hey Parkers congrats on your beautiful new home good size of land how far your house from CHA AM beach and local market look forward more videos of new homes have wonderful day thanks for sharing 🙏
Thank you for taking the time to comment. Our house is approx 12 klms from the beach. We have a local 7/11 and hardware store 900 meters down the road. Also a little local restaurant which we are yet to try.
Thanks for your VERY valuable info re buying. We (my Thai partner and I) have built a house in Ratchaburi province, way out in the sticks, but I love Cha Am and plan to rent something there because it's way cooler (temp). I own and live in Hervey Bay QLD but plan to live most of my life in Thailand.
Question: I'm not able to find your email address? Sorry :(
Thank you watching and commenting. Cha Am is a great spot as is Hua Hin.
You can't access the email address if you're using a smartphone / iPad / tablet. You have to use a computer PC or Mac. This is a TH-cam issue.
Thank you for sharing. I've appreciated your videos. I've lived in Phuket for 2½ years, but I'm getting sick and tired of it. Moving up to Hua Hin in October with my thai wife.
It is so much quieter here that's for sure. Good luck with the move.
😊🙏
I lived in Karon for 18 months. I'm very happy to be out of there.😂
I always laugh when I read about people complaining about busy phuket so moving hundreds of kilometres away. Most of Thalang District (which makes up the northern half of the island) is fairly quiet. Hua Hin is horrible every weekend when hundreds of thousands travel down from Bangkok
@@domi9577better than millions of Russians..
Very good to hear you both explain it I am irsh I hope to retire in 2yearsi want to retire in thiland the way I look at it is I will be 66if I get another 15years to live I won’t have to worry about the land I can’t take it with me 😊😊
We said the same thing!😁
I from Melbourne and have been married to a Thai lady who has been living in Australia for 16 years. She is an Australian citizen and does not under any circumstances want to return to Thailand to live permanently. Ironically I am 54 and would love to retire to live in Thailand in the next 5 years or so and being married to a Thai would make the process easier when it comes to owning land etc. Australia is getting way to expensive and our retirement would be much easier in Thailand.
Perhaps you could try living here for six months and Australia for six months and your Thai wife may accept that?
@@HereComeTheParkersYes that would be ideal but we have 2 cats and my adult daughter is happy to stay at our place to look after them. The issue is they are my wife’s babies and she doesn’t want to leave them for too long. As long as I can at least escape the Melbourne winters I will be happy.
@@paulannamaher9065 Can understand that completely !
Hi guys, great house, great video. One question - can you confirm what amount would be required to be paid at the 30 year point to extend the lease? Is it a nominal fixed payment agreed in advance, is it the same amount paid at the beginning, or is it some sort of market valued amount?
Thank you for watching and commenting! It is not something we are concerning ourselves with because we will most likely not be in this world any more (90+ years old) when it comes around.
Im hearing you can own 10rai if you invest 40mil bht in thai government bonds. Thailand is open for business but to hi net worth individuals
Thanks
Thank you for the video, i have lived in Pattaya for 3 years and Im looking to buy a townhouse, i have done some research, but there is so much conflicting information. Do i have to start a Thai company?? what are the fees for that? And is there a yearly fee? IS it the same rules apply when buying a house??
1. You do NOT have to start a Thai company
2. We don't know what the company fees are but it is not required for you to start a company in any case.
3. There is usually an annual "common fee" for the property but NOT always. This fee is usually around 22,000 baht annually but it can very widely. The annual fee typically includes building insurance, security, lawn and pool maintenance etc.
4. Same rules when buying a house. (Some differences apply when buying a condo though.)
Important to remember: foreigners can NOT own land in Thailand. Some farangs will tell you to start a company to own the land but this is illegal even though they may tell you it's not illegal and that's what they have done. A foreigner can not own land in Thailand even if it is (say) a 10% share of that land. The Thai government knows many foreigners illegally own land through a Thai company. The government has turned a blind eye to this FOR THE MOMENT.
Please note we are not experts, lawyers or real estate agents. You need to get advice from a Thai lawyer or the Lands Office.
Another point to understand: The purchase of the house and the purchase of the land are handled as two completely separate transactions in Thailand. Most foreigners can't get their heads around this fact. I hope this helps you.
Thank guys love watching your vlogs real down to earth
Lots of interesting information
Carnt wait to get there in acouple months
I hope you’re real people lol if you know what mean
Nice to get some information how you got there 😀
hahahaha thanks Des !
Very useful video. Thank you ❤
Thanks for sharing. My only question is how freehold can become leasehold. If any Thai person can issue a lease then they're wouldn't be a difference. Property developers may be given some special rights or the entire property market would open to foreign ownership via leases. Is that you're understanding, that only certain properties can be leased?
The entire property market is open to Thais and foreigners equally. Thais get to own the land the house sits on. Foreigners get to lease the land the house sits on (from a Thai person who owns the land). I guess there will be some sellers who do not wish to sell to foreigners but given that right now foreigners are the only ones with money and Thais are not buying it's not a great strategy. Remember we are only talking about the land here. There are no restrictions on foreigners owning the actual house.
@@HereComeTheParkers I guess you would need to ask the seller if they're willing to lease. It would be some extra work for them and I bet most Thai's never knew about leases. I've bought land recently but it's just in my Thai wives name so tied to the marriage and I bet I'm lucky to get even 50% if we split up. Never thought about leasing the land but I don't figure I could get away with that since i'm married. :)
@@HairyPixels well given that under no circumstances can foreigners own land it would follow that any separation will mean she gets 100% of the land. The house will probably get split 50/50 but I'm only guessing.
@@HereComeTheParkers I think they give you 12 months to sell the property and split the profit. Not sure if that actually happens in practice though.
@@HereComeTheParkersThat's because the "actual house" is a depreciating asset.
How much will the lease renewal cost? These things are rarely done without a charge. For the more unscrupulous landlords in the west, it's an opportunity, and if the renewal charge is deemed over the top by the lessee, then it's arbitration time.
We are not going to concern ourselves with something that may happen after we die. Couldn't care less. Life too short.
What kind of guarantee do you have on that lease contract though? Say the owner of the land has a forced bankruptcy + liquidation. His bank can’t take that land from him? Your contract is protected from that?
I get that it’s easy to setup the lease and purchase the home / pay for temporary use of the land but my biggest concern is over the lifetime of the lease, what are the potential ways it can be broken. None of those were covered
If it happens we will be sure to let you know.
If the lease is registered on the chanote, or deed, the new owner is legally required to honor it.
There is no way to do it like this without pissing away the money. Both the structure and the lease constantly lose value.
@@steampunk888yea when I watched the video I actually did some napkin math on it. It ends up being twice as costly as renting when you add in home maintenance, repairs, insurance, etc over the 30 years. Plus you are locked into one specific location. Financially it absolutely doesn’t make sense but from a peace of mind perspective and if you don’t need the money, I can see why people would do it.
My napkin math ~
Based on 3% inflation
7.6m / 30 years rent 21.2k/month which is starting from 12.5k which is equal to 4.5m initial price of house and land today
4.5m initial cost to buy house / 30 year lease land. Opportunity cost of that 4.5m at 3% is 10.9m over 30 years
Renting saves 3m thb over 30 years. That 3m compounded at 3% is 5.13 million (doesn’t include extra costs of owning a house, savings are likely 7-8million over 30 year renting vs owning
Average home owning cost per month is 30.2k (owner needs to cover insurance, taxes, repairs, upgrades
Average rental cost is 21.2k (renter pays no additional fees)
@@steampunk888 lose value in what way? They get the lease on the land for 30 years. They also own the structure and can do as they wish with it. I would think if you do the math it turns out far less expensive then renting and the person on the lease has full LEGAL protection for 30 years. They can't be evicted. How is this "pissing money away"?
You can own land if it’s worth more then 40 million baht and only 1 rai in size
Thanks.
Great house
Thank you !
Hi do you pay ever 30 years what the land wealth to the land holder thank martin
No you pay up front.
What would happen if in 30 years you wished to renew the lease for another 30 years but the owner chooses not to renew and wishes to use the land for his family or relatives or sell the land , what would happen to your house then ? As far as I know legally you are covered for the 30 years but that is the end of that agreement.
Well we won't be here in 30 years. But we can renew it for our kids. If you are younger than us we suggest that you consult a lawyer. Thai laws change all the time so who knows what will go on.
@@HereComeTheParkers th-cam.com/video/fMgP21zm6H8/w-d-xo.htmlsi=FWPmjoAOVxDv36gK
Good to buy
That's what we think too.
How can you sell the house? I think you can not sell it.
We did not buy it for an investment.
Hi, I’m trying to find your email address but am having difficulty finding it. I’ve looked under the “about” section of your homepage but I can’t see it anywhere. Can you please point me in the right direction. Thanks.
The “About” section is only available if you access the channel on a desktop computer or laptop. It is not available on a smartphone or tablet. It’s a TH-cam thing. I don’t know why it’s that way.
Oh ok. Thanks for that. That explains why I couldn’t find it haha
@@granti4628 that problem trips everyone up. I wish it wasn't like that, but this is TH-cam! I should have mentioned the problem on camera.
Hi there I’ve looked for your email address on your page I can’t see it I have a few questions about your new property
You can’t see the “About” button when using a smartphone or tablet. You have to use a laptop or desktop computer PC or Mac.
Couldnt fine your email. Please advise
You can't see the "About" section if you are using a smartphone or iPad / tablet to access our channel. This is a TH-cam issue and we don't know why it's like this. Every channel is the same not just ours. You have to use a laptop or desktop computer (PC or Mac).
Nice.
Thank you !
The land is the part that retains value. The structure loses value constantly. All Thailand would have to do to safely encourage wealthy foreigners to come to Thailand is:
1. Restrict ownership to 2 or 3 provinces only, likely the tourist zones.
2. Impose large inheritance and transfer taxes on foreign owned property, which is generally how to insure that landed property is sold on the death of the owner, i.e., in order to pay the tax.
Hey... keep this on the down low... it could be on the next tax law that comes out, if it get out.
No offence , you look a nice couple , and I hope everything goes well for you in your future , but anything can be done with dodgy lawyers what might prove to be later .
I was always under the impression that you have to have a Thai owning 51% of the build ( forget the land )
Just rent rent rent especially when you're getting on in life . To me renting is a no brainer .
Also, nothing to do with property I know, but you could have your visas revoked for the smallest reason at anytime.
I'm afraid if it was me i'd be on tenterhooks all the time.
Thank you for your comment. No that isn't true. Suggest if anyone wants to buy house and land to consult a lawyer. We own our house 100% and we have signed documents from the govt offices. We have however leased our land for 30 years. We can negotiate at any time to extend that to pass the house on to our kids if they want it. We have signed documents that our land cannot be sold under us.
As for visas being revoked I guess you just need to do the right thing and obey Thai laws.
Of course a lot of people prefer renting, We rented for two years and found the process frustrating most of the time.
Please dont buy House s in Thailand...youll thank me later😂😂😂😂.
Condos are OK .
Well we have a family of five and 6 cats. Some of us are not suited to live in a condo.
@@HereComeTheParkers Thai govt doesn't want Foreigners buying up their Land is the Issue.
@@HisHimmer yeah I guess they don't want Thailand ending up like Australia where no one can afford a house. But who knows. It is what it is.
@@HereComeTheParkers I would think that it's more about control, and retaining Thailand as a Thai country. I live in Vietnam, which being Commy, is pretty much the same.
@@zedbou5040 that's definitely true as well.
omg AI generated house..I'm dying 🤣🤣
hahahahahaha . He or she must need glasses I think
and now the Thai government knows about you - silly!
And?
🫶
Hey guys, you said that on your about Pages where your email is don’t see it. I’m the only thing I see is at here comes the Parkers but it says it’s an invalid email address. Could you send me your email address? Thank you.
The "About" button I mentioned is not available when you access TH-cam from a smartphone or a tablet. You have to use a desktop or laptop computer (Windows or Mac) to access the "About" button. This is a TH-cam thing. I don't know why it's like that.
@@HereComeTheParkers is it possible for you just to send me your email address
@@joemachado316 how would you like me to do that?