So, you have been holidaying in Thailand for many years and finally, retirement is looming and you and your partner are excited about the prospect of retiring in the Land of Smiles and building your dream retirement home. This is an exciting time; it isn’t every day that you get to design your living space and in this short article, we offer valuable information to help you build the home of your dreams.
Land Ownership
Unfortunately, foreign citizens are not permitted to own land; although there are ways around this, you can, for example, set up a limited company and acquire land in the company name. The other way to secure the land on which your home sits is to lease it on a 30×30 basis, which gives you 30 years, with the option of a further 30 years. Leasing the land would cost about the same as freehold, but you have 60 years of tenancy, which is more than enough time.
Designing & Building your Home
There are custom builders who handle every aspect of the build from design to hand-over and with construction machinery for rent (known as เช่าเครื่องจักรก่อสร้าง in Thai), you can hire locals and oversee the project yourself. Don’t make the mistake of trying to save money and cut corners; using quality building materials equals longevity.
Seek an English-speaking Lawyer
Prior to acquiring land, you need to source an English-speaking Thai lawyer, who can make sure that all is above board and that your best interests are protected. The lawyer can arrange land surveys and find out whether utilities are available; he can also check that the land is owned by the seller; whether buying or leasing, you need to cover every angle and be sure that this location is suitable. If you are setting up a limited company, the lawyer can prepare the paperwork and facilitate the company registration; if you are leasing the land, the legal professional can check the lease to ensure you are not restricted.
Solar Power
Any person building a home in Thailand would be expected to install solar panels and batteries, as this allows you to remain off-grid; such is the level of panel and battery development, your green energy system can provide you with all the power you need, with zero emissions. There are many small companies that offer solar energy systems and it is worth noting that with no grid connection, you don’t have any energy bills.
If you need help with long-term visas, a Thai lawyer is the person to help in this regard.
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