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Posted

Me (US Citizen) and my wife (Thai and US Dual Citizen) are considering purchasing a condo in Thailand. We live in the USA now and will for the next 14 years or so. After that we want to have a beach spot (and maybe a spot in BKK) to live at as we choose.

 

We are thinking of something like a 2 bedroom place in Hua Hin, Pattaya, or other desirable beach close location. Not too terribly far from BKK.

 

In general, what are some bits of high level advice. Are there other beach locations we should consider? 

 

Is there a possibility for us to get a mortgage to help with the purchase?

 

is it reasonable for us to buy something now and find a way to have it leased/managed by a local property management company. 

 

Thanks in advance for your guidance.

Posted

If you have to ask those questions, then avoid investing in RE in Thailand.

 

Invest in the USA, and use that income to live, rent, own in Thailand when the time comes.

  • Like 1
Posted

Your wife would need to be gainfully employed in Thailand to get a mortgage from a Thai bank. 

Maybe, with inflation sweeping the planet at the moment, Thai prices will rise over time, But usually they remain static, 10 years later, you can buy/sell for the same price. So just buy when you are ready to come here.

Posted

I second all the reservation that other posters have mentioned.

 

Also, since you are both US citizens, consider the complexities of compliance with US tax obligations if you use a condo in Thailand as a rental property. Exchange rate fluctuation and the mandatory depreciation that you would have to account for can turn a loss at sale in Thai baht terms into a profit in US dollar terms, handing you a large US tax bill even if you don't repatriate the proceeds.

Posted

Make $ there (usa) spend it here (Thailand).  Generally good advice.

 

Thai rents are very cheap compared with USA so you might want to forget the buy route and just plan on renting when you are ready for the move.  That way you can try out Pattaya or Hua Hin or wherever you like for six months or a year and when you decide where you like  and what buildings you prefer then find a rental and sign a lease with option to extend for several years.

  • Like 2
Posted

I posted a picture of my 2 year old hiso Bangkok condo in another thread.

 

Condo warranty is non existent in Thailand. Insurance does not cover or will cover only cosmetic issues (think water pipe burst, they will pay to paint the wall). 

 

Good luck with your investment. 

 

 

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