buying property

[cybernator_uk]

Ok me and a friend are contemplating buying a house in Thailand. (more than likely Phuket) With the plan of eventually moving out there. Moving out there wouldnt happen for a long time as we both have good jobs that neither of us want to leave for a while. What we plan to do is split the house 50/50 and then when one of us is ready is to actually move out there and the other can come when they feel ready but in the meantime we would use it as a holiday home and prehaps find somewhere that will rent it out to holiday makers to use so it makes a bit of money aswell. Should either myself move out there and find that i hate living there or my friend does it and he hates it aswell we could keep it just for a holiday place for when either of us is out there or just sell it. As there are a some board members that live out there and some that regualy travel it would be great to get some advice and see what options there are available and if it is worth really thinking about. I have read some of the Thai law and it looks kinda tricky but not imposiable.

Any thoughts would be greatly apreciated on this. As i said tho its just an idea and thus nothing conclusive. I mean who knows what will happen ie women, marriage kids etc. But i am really looking for some advice and suggestions from people with a hell of a lot more experience than myself

Thanks guys

[ToTheBeach]

Don't mind me saying, but... there seem to be a lot of 'options' or 'loose ends'.... Might not be the bst thing to do to share the property. Why not do it both on your own to avoid the pittfalls of sharing a property. The Thai law can be navigated with...

[stevem]

Are you aware of the laws about farang owning land?? I suggest that you have a look through the "expat" forum as there is a lot of discussions about this.

[Sirgezza]

I bought my first flat with a workmate as it was the only way we could afford to get on the property ladder (we weren't poofters ). As we were moving our stuff in I discovered just how much of a prat he was. He obviously thought the same of me 'cos he moved out within a year and bought his own place due to a massive help from his parents.

I'd never buy a property again with anybody. Either 100% myself or not at all. Buying in a foreign land miles away will only add to your problems.

You don't seem to have any definite timescales e.g. ''I'm retiring in 3 years time''. Sounds like a bit of a pipedream to me and personally speaking, until you have retired and spent a few months in Thailand, I think it would be best left as that.

Who will look after the place whilst you are not there? How many months a year will it be used by you and your friend? What if you both want to be there at Christmas time? etc. etc.

[cybernator_uk]

Originally Posted by gez

I bought my first flat with a workmate as it was the only way we could afford to get on the property ladder (we weren't poofters ). As we were moving our stuff in I discovered just how much of a prat he was. He obviously thought the same of me 'cos he moved out within a year and bought his own place due to a massive help from his parents.

I'd never buy a property again with anybody. Either 100% myself or not at all. Buying in a foreign land miles away will only add to your problems.

You don't seem to have any definite timescales e.g. ''I'm retiring in 3 years time''. Sounds like a bit of a pipedream to me and personally speaking, until you have retired and spent a few months in Thailand, I think it would be best left as that.

Who will look after the place whilst you are not there? How many months a year will it be used by you and your friend? What if you both want to be there at Christmas time? etc. etc.

As i did state at the minute its more of an idea than an actual plan. Ok basicaly we had the plan to use it as a holiday place for either of us to use as and when we wanted. The plan was that after purchasing it was to lease it out to an agency (although i am not sure if that is a practical option) with the theory of making some money on it while we were not using it. I am nowhere near retirement age and nor is my friend so really that wouldnt happen for at least another 25 years. After we had spent enough time out there and one of us wanted to stay and the other wanted to sell then obviously the only option there is to buy the other one out. As we have been friends for god knows how long and the problems we have had between are us are nil i couldnt see that being a problem.

Obviously there is a heck of a lot of research to do first. The idea of coming on here was really to see what advice we could get and what solutions there could be for our problems. As i said i am not 100% sure our option is viable as i have read some of thai law and the whole thing looks complicated to say the least.

Thanks for the advice about reading expacts comments (i actually never thought of that )


Any advice on this or specifics on thai law would be grateful. I am by far no expert on that so what ever help you could offer me would be good. If i /we do decide to go ahead with it then i will deffinatly be looking for more advice. Unfortunatly it might take a little while before things really get in motion. This is really to see what is possiable and whats not.

Thanks for your help guys

[stevem]

Originally Posted by cybernator_uk

Any advice on this or specifics on thai law would be grateful.

The ins and outs of buying property in Thailand has been discussed alot on this board, have abit of a look around, alternatively have a browse over at www.thaivisa.com

[cybernator_uk]

Originally Posted by stevem

The ins and outs of buying property in Thailand has been discussed alot on this board, have abit of a look around, alternatively have a browse over at www.thaivisa.com

Thanks a lot. There is still a lot of planning to do and i want to spend a bit more time in Phuket before i say for deffinate that yes this is the place or no. Hoping to come back next year. Was hoping for this year but with work commitments the way they are i cant see myself getting out this year (dam shame)