The Secret To Successful Overseas Real Estate Investing
"I've told the buyer from Dublin that the other buyer, the gentleman from Cork, is considering by how much he'd...
Read moreLief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
Hua Hin boasts miles of clean beaches, good year-round weather, and a large foreign community. The rich selection of restaurants, internationally accredited medical care, and nine town golf courses, with several more being constructed, make it even more appealing.
It’s close to the cultural offerings of Bangkok, yet far enough away to be well removed from the chaos. Mountains, caves, waterfalls, and abundant wildlife can be seen at the seven national parks within a two-hour drive from town.
The event that transformed Thailand’s oldest major beach resort from a small fishing village to the popular seaside resort destination that it is today came in 1911, when the railroad from Bangkok to Hua Hin was completed.
Transportation to and from Bangkok became much easier and more convenient, inspiring members of the Thai Royal Family and Bangkok’s elite to build bungalows here.
In many respects, Hua Hin could be described as the San Miguel de Allende (Mexico) or Pedasí (Panama) of Southeast Asia—there is an expat community, but there are still enough local Thai people to keep things interesting.
You’ll know and feel that you’re in a foreign country, but moving here does not require total immersion in a new culture.
There is always something happening in town. Besides the annual Jazz Festival and Kite Festival, there are soccer leagues, pool tournaments, darts leagues, book clubs, and running and cycling clubs—just a few of the numerous pastimes available for the entertainment of the many expats living here.
Formerly known as Siam, modern Thailand did not culturally begin to modernize until the 1800’s under British influence. Even then, it was primarily only the wealthy elite who benefitted.
The World Wars brought more exposure to the world, but also turmoil as Siam underwent a revolution and became Thailand between the wars.
It was during theVietnamwar that an influx of American soldiers, money, and culture began reaching the common Thai at a level that changed the country permanently.
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Few other places in the world seem to match the attributes of a retirement haven as aptly as Hua Hin. Dollar for dollar, you can enjoy a much higher standard of living in Hua Hin than you could afford to have back home.
Rents in Hua Hin are almost always negotiable, at least to a certain extent. Your biggest decision will be whether you want to live right on the beach or prefer to live more inland.
The beach is lined with condominiums and apartments, and many units offer direct ocean views. If you want to live right on the beach, plan on spending around US$800-US$950 for a furnished two-bedroom unit.
However, if you prefer to live a mile or two outside of the city center and away from the beach, rental prices will generally be about half of that amount.
Paying a damage deposit is the norm; usually one month’s rent for an unfurnished place or two month’s rent for furnished units. Since the deposit is used to cover potential damages made to the property, it is especially advantageous for you to have photos taken prior to moving into the residence. If your landlord insists on an overly large security deposit, you may want find a different place to rent.
You’ll need to clarify who pays for repairs. Structural repairs, electrical, and plumbing problems are generally paid for by the landlord.
The tenants pay to keep the property clean and maintained, as well as replacing light bulbs, fuses, fans, and any items that break during the tenancy.
In most cases, you’ll have the utilities in your name and will be responsible for paying them.
Expense | Monthly Cost | Notes |
---|---|---|
Rent | THB 16,531 | |
Gas | THB 315 | Used for cooking. |
Electricity | THB 1,102 | No air conditioning installed. |
Water | THB 315 | |
Telephone | THB 630 | Prepaid cellphone plan for 30 days. |
Internet | N/A | Free with Hua Hin Citywide. |
Cable TV | THB 787 | |
Groceries | THB 10,233 | |
Entertainment | THB 11,020 | |
Total | THB 40,933 |
Click here for currency conversion at today’s exchange rate.
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The Hua Hin district in Thailand is a center of tourism, education, and medicine.
An international kite festival and Cricket bring tourists flooding into the region each year. And, the markets and cruise ships are strong touristy events as well.
Plus, there are University’s and Research Hospitals in the region which make it a center of learning and bring people from around Thailand.
Golf is quickly becoming a popular attraction in Hua Hin. Several excellent courses have opened in recent years throughout the region, making it especially attractive to visitors and businessmen from the west.
For Americansliving in Thailand, the most important fact is to be aware that you are required to pay taxes in the country. It will be your responsibility to file in both countries by the required deadlines and to take advantage of any available exemptions.
The most important element in Thailand’s tax system for foreigners is the personal income tax (PIT). If you live in Thailand and earn income, your income is subject to the PIT. Your employer may arrange a tax ID number for you, or you may have to request it yourself from the Revenue Department.
"I've told the buyer from Dublin that the other buyer, the gentleman from Cork, is considering by how much he'd...
Read more"I've told the buyer from Dublin that the other buyer, the gentleman from Cork, is considering by how much he'd...
Read more"I've told the buyer from Dublin that the other buyer, the gentleman from Cork, is considering by how much he'd...
Read moreI first visited Chiang Mai in 2002, and it was sleepy beyond imagination. "I'm not old enough to live in Chiang Mai," was what I said back then. The frenetic city life in Bangkok still had me under its spell. The half-speed pace of the northern capital was just too slow. Nearly two decades later, it seems Chiang Mai and I have met in the middle. I've slowed down to a respectable pace for a 50-something and Chiang Mai has...
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© 2008 - 2024 Live and Invest Overseas - All Rights Reserved.
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