Buying Freehold Condos In Pattaya

A Look At Buying Freehold Condos In Pattaya And Leasehold Condos

If you are looking forward to purchasing a condo in Pattaya, you should initially know that there are two main ways to do this. Whichever option you choose is applicable to your personal situation, depending on a few factors. These factors include: who you are in terms of your status as a foreigner or local

These factors include: who you are in terms of your status as a foreigner or local resident, the intentions you have for the condominium and the amount of money you have to invest in the country.

Definitions

Buying a condo on lease means that you are buying it for a stipulated period of time after which the property will return its ownership back to the original owner. It’s like a buying a condo for a long time then returning it to the seller who is the original owner. On the other hand, buying freehold means you have full ownership of the property for an unlimited period of time.

It’s like a buying a condo for a long time then returning it to the seller who is the original owner. On the other hand, buying freehold means you have full ownership of the property for an unlimited period of time.

Leasehold buying

For many people, leasehold appears to be the same as renting, but this is not the case. Leasehold allows you to have full rights to the condo but this privilege is limited to the agreed upon time. Buying a leasehold property can give you access to financial services such as a mortgage as opposed to paying monthly rent to the owner. If you are a foreigner, this is a complicated option to own a condominium because you are not paying for the land on which the condo is on but for the condo itself. Since you have the rights to the property, you are free to rent it out and make some earnings during this period.

If you are a foreigner, this is a complicated option to own a condominium because you are not paying for the land on which the condo is on but for the condo itself. Since you have the rights to the property, you are free to rent it out and make some earnings during this period.

Buying a leasehold property can give you access to financial services such as a mortgage as opposed to paying monthly rent to the owner. If you are a foreigner, this is a complicated option to own a condominium because you are not paying for the land on which the condo is on but for the condo itself. Since you have the rights to the property, you are free to rent it out and make some earnings during this period.

Since you have the rights to the property, you are free to rent it out and make some earnings during this period.

Lease holding a condominium in Pattaya is governed by a few rules which must be acknowledged by the condo buyers. For example, the maximum period for a lease is thirty years. If you wish to renew the lease you can only do so for another thirty years. However, you are only allowed to renew the lease twice. This means you can only lease a particular property for a maximum of ninety consecutive years.

If you wish to renew the lease you can only do so for another thirty years. However, you are only allowed to renew the lease twice. This means you can only lease a particular property for a maximum of ninety consecutive years.

Freehold buying

If you are buying freehold Condos In Pattaya, you only need to sign a freehold agreement and the property is yours for over unlimited time duration. This is the most common purchase option for foreigners who want to buy condominiums in Pattaya.

This is because, for one, it opens up a window for a foreigner to own property and also for investors to participate in the property market. Remember, In Thailand, it is difficult for a foreigner to own property except in the case of condos. Hence, here you own the brick and mortar but not the land under which it is located.

Whichever of these options you choose depend on which is more appealing for your circumstances, either fully own the condo or to lease it for a period of time. People who opt for leasing usually like to enjoy the flexibility of switching properties and it is essentially much cheaper than buying a freehold condominium.

But the truth is, most people who buy Pattaya condos will be taking up the purchase of freehold condos since the principles between this is much more straightforward.