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Reader question: What are additional costs when buying a house?

By Submitted Message
Posted in News from Thailand
Tags:
December 12 2017

Dear readers,

Hello I am planning to buy a house in Pattaya. Now my question is what costs are involved? Notary and/or other expenses? Maybe hidden expenses?

Regards,

Johnny

Number of times read: 217

11 responses to “Reader question: What are additional costs when buying a house?”

  1. Nicky says up
    12 December 2017 at 08: 22

    Depends. Will the house be registered in the name of a Thai person or will you lease it from a Thai person? A foreigner cannot buy a house or land. When leasing, you must pay attorney fees and lease tax

  2. Rudolf says up
    12 December 2017 at 09: 34

    If I look at your question in this way, you have no idea what is involved and what is (im) possible; I would be assisted by someone who is an expert otherwise you will come home from a rude awakening. I advise you to check it out http://www.baannethai.com to watch.

  3. Rob E says up
    12 December 2017 at 11: 19

    Go to the country department with the seller and transfer it there, then you have to pay the tax immediately, I believe it is 3% that you normally share with the seller.

    Furthermore, there are no costs.

  4. paul says up
    12 December 2017 at 11: 20

    my house is for sale and is on a company name
    there is no cost just change the director's name
    but it is still better to get a lawyer who will check all the papers and chanoets to see that there is nothing wrong with the company
    cost per year for the company's balance sheet = 12.000 baht /year
    that's all

  5. Peter says up
    12 December 2017 at 11: 43

    Nicky…..

    You can't buy land, but you can buy a house.
    2-With a lease contract, no lawyer is required/mandatory.

    Please provide correct information.

    • Nicky says up
      13 December 2017 at 15: 41

      I do know that a lawyer is not mandatory, but it is recommended if you are not familiar with this matter

  6. Pieter says up
    12 December 2017 at 12: 24

    From my own experience I can tell you that there are virtually no additional costs.
    Have experience with the purchase of condos and land, indeed not in your own name, but the transfer costs are also peanuts there, there are only transfer costs.
    In fact, there is no notary involved.
    However, a warning is in order regarding property.
    Again, you cannot purchase land, only with a Thai partner, and in that case make sure that the land is indeed owned by the seller.
    But realize, it's easy to buy but can be oh so hard to sell.
    So “look before you leap”

  7. Roel says up
    12 December 2017 at 12: 29

    Also watch out if you buy on a Thai name, land office where the homes are described can, in certain areas in Pattaya, view the price of the home quite well, on which the final costs must be paid.

    In any case, an advice, first have the chanot check whether there is no mortgage on it and also the registered value at the land office. You must count on 3% of the value or value with which the land office agrees.

    Usually the payment is split 50/50

    There are also enough houses that are in a company, taking over a company usually costs 10.000 baht, but look carefully at the Thai shareholders or ID card copy are recent, etc. I have had my house in a company for more than 12 years, my Thai other half is now shareholder in it on construction.

  8. Richard says up
    12 December 2017 at 12: 36

    Also take into account common area management fees if your house is on a compound. Those costs will continue to rise, so don't think, oh well, I can easily afford those 3 or 4.000 baht per month. Also common repair costs are often paid from a so-called Sinking Fund and that must continue to be supplemented. Let us assist you very well in the purchasing process. And remember, after 30 years nothing is yours; you lease for that period.

    • Pieter says up
      12 December 2017 at 16: 06

      That is not true, condos can be purchased for 100% ownership as long as it falls under 49% of the entire project.
      And maintenance fee has been 30thb/m2/month for years in my experience.
      Yes I admit in tourist areas it can go up, but even in Hua-hin it has been 30thb/m2 per month for years.

      • l.low size says up
        13 December 2017 at 10: 04

        With the 49% rule only for condos, it is therefore not a full 100% property.

        Houses are not eligible for this scheme! There is an (illegal) construction
        for devised according to the court in Pattaya.


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