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The Whole Package: Buying vs Leasing Thai Real Estate

Transcript of the above video:

As the title of this video suggests, we are discussing this Whole Package concept. Sort of a holistic approach to looking at relocating, living, working, doing business, owning one's home, all of it; the Whole Package of living, expatriating, I call it immigrating to Thailand, the Whole Package. 

In this video we are discussing Leasing vs. Buying Real Estate. Now this is going to be very circumstantially driven but the Whole Package I think some people presume it means "oh you own your home." It might not and there may be a set of circumstances especially in the shop house model which is a certain kind of “living above where you work” and you may have a shop house where that is sort of your storefront. I know a fair number of clients that operate this way with respect to running a restaurant business or a bed and breakfast or a guest house model. They do this on the shop house model and it may be possible that the only thing feasible depending on the location is renting, or depending on the specifications of the property, renting may be the only thing feasible. 

Now that said, your Company that supports your Thai Work Permit and Visa may be domiciled there too so even though you are paying rent, you may be killing two birds with one stone so to speak, as you are dealing with corporate domicile issue which can be a major hang up especially cost wise for certain folks trying to do business here in Thailand as it is a formal requirement for most SMEs trying to do business and support a Work Permit or a Visa. 

Long story short, generally speaking it is going to be again circumstantially driven. There are options to purchase various real estate that may comport with being able to run a business on it. There are also circumstances where that may not be possible. Again where you are kind of on the fence on this issue, it may not be a terrible idea to contact a legal professional and get a bird's eye view of all the benefits that come from either renting vs. buying a given piece of real estate. You may be in a situation where you are comparing two types of real estate; a condo vs. a shop house for example, or a residential home vs. a condo or a shop house or all three compared to each other. Frankly it is a bit of a buyer's market here in Thailand, I think that may be an understatement in sort of this aftermath of the COVID response. For that reason, I think it is a very good time to be looking at all your options with respect to real estate and the ability to do business using that real estate here in the Kingdom of Thailand.