Thinking of moving to Hua Hin, Thailand? You are most probably considering a property purchase. Make sure you read this article first before you take the big plunge into Hua Hin Real Estate.
Based on my own experience of living and operating an Real Estate Agency in Hua Hin for nearly 5 years; and having built my own house and many others for our clients, if I had to do it all over again, I would most likely recommend my clients to buy a condo over a house. Why you may ask?
For one, over 90% of projects I've heard about encounter some sort of building issues somewhere along the line i.e. low building standards, untrained contractors, delay in work and therefore late delivery of finished product, lack of guarantee on construction quality, and many more.
But before I present my obviously biased opinion, let's look at the Pros and Cons of buying a house vs condo.
House:
Pros:
- Larger Living space
- Private Garden
- Pets allowed
- Easier to do Renovations
Cons:
- More remote location
- Can feel less spacious
- Difficulties in transportation
- Slower Re-sale
Condominium:
Pros:
- Likely to be more centrally located
- Can be more spacious even with smaller total area
- Better Security
- Easier Re-sale
Cons:
- No private land or garden
- No private car port
- Possibly noisier
- Actual living space smaller
- No pets
- Restrictions in Renovations
The main obstacle for many foreign buyers is the language barrier. When you buy a house you are really on your own unless you have a Thai wife or girlfriend who can do some translation for you and even then it can be a hurdle to be understood. Most condo buildings have office staff who speak adequate English and help attend to tenants, home owners and guests.
If you are planning to buy a house and only live in Thailand part of the year, you will need to find a property management company to take care of your garden, pool, pay bills, cleaning and possibly to rent it out. This is a higher cost vs maintaining a condo.
If you want a quick return in investment, I'd say that condominiums are a better option since they rent easier due to better location, facilities, security and in-house maintenance.
Lastly, the main reason I highly recommend buying a freehold condominium in Hua Hin is simply, a foreigner can legally own it 100% vs a house which a foreigner can only lease the land for 30 years on which the house is built on. I don't know about you but when I spend a couple of million baht on a property, I want it to be mine for a much longer time than 60 years!
Does the current economic crisis spell cheaper rentals in Bangkok, Thailand?
With the current global economic crisis, many wonder how that has affected the property market in Asia. Does that mean cheaper rentals? If so, by how much? How about sales? Is the property market in Thailand as badly affected as that in the West?
What Makes Hua Hin So Attractive To Foreign Property Investors?
Find out why Hua Hin continues to attract millions in foreign property investments and why it's such a retirees' haven.
The Rental Process in Thailand.
If you are thinking of renting a property in Thailand, read this first before you start your search. Choosing the right real estate agency or agent for you can be crucial in your finding the dream home in a foreign country such as Thailand where majority of home owners communicate in Thai.
