Sell Or Rent

[bsacbob]

Hi All,

I am sure this has been asked many times, but myself wife and baby son are planning to sell up in the Uk after my 50th in April and retire to Phuket.

We have a house already for 3 years in land and house park in chalong, but when we come to live full time we are considering buying a bigger house in the park, my question is should we rent our exsiting house or just sell it, i know new build sites are all over the island on we are at saturation point and spoiling the place, but thats another issue.

Is the re-sale market good enough for me to show a profit on the sale, as most of our thai friends opt for the rental point of view ?

your thoughts gents

Edited March 28, 2007 by bsacbob

[Kimera]

Hi All,

I am sure this has been asked many times, but myself wife and baby son are planning to sell up in the Uk after my 50th in April and retire to Phuket.

We have a house already for 3 years in land and house park in chalong, but when we come to live full time we are considering buying a bigger house in the park, my question is should we rent our exsiting house or just sell it, i know new build sites are all over the island on we are at saturation point and spoiling the place, but thats another issue.

Is the re-sale market good enough for me to show a profit on the sale, as most of our thai friends opt for the rental point of view ?

your thoughts gents

You should make a profit after 3 years and the rental of the property (you give very little in the way of details) 2/3bedroom etc ? 8000 to 1500baht monthly, do you need the capital or the income,? your Thai friends would favour the rental way, that is the Thai way , income and its there for their children

[phuket Mike]

In my experience the re-sale market in Land and House is very slow, with properties staying on the market for 12 months+. A 3 bedroom properties would attain a rental income of between 20,000-30,000 per month long term and more if you let it for short term holiday lets in the high season. I would suggest your best option would be to set it up as a rental property, i.e. fully furnished, good clean decorative order etc.

Then you can either get a long term let, or allow customers to book specific periods for short term holiday lets. I would also then put it on the market for sale with all the local agents. That way you get the best of both worlds, you get rental income while its up for sale and also it becomes more attractive to potential investors because it already has rental income.

Good luck

[bsacbob]

Thanks for your commnents guys,

sorry for the lack of info the house is 3 bedroomed house at L & H. phukets mikes suggestion looks the way to go since we did not intend to move furniture to our new house and as mentioned if i put it up on the market whilst being rented the prospective purchaser would be able to see its a working operation of the intend to continue with the rental idea.

whilst on does anyone know of any secure developments with 4 bed houses in the 10 million bracket in the chalong area, the wife likes the idea of L&H because its relativley safe for kids to play around etc, plus its near fattys diner.

cheers