There are many viable reasons to invest in and own your own property outright, however, that’s not to say that renting property is without its merits. For example, what are the practical lifestyle advantages of renting an apartment in Thailand, as opposed to buying outright? Read on and let’s discuss it further…
What is arguably one of the greatest advantages of renting an apartment in Thailand is the fact that you will have zero responsibility whatsoever.
Yes, you’ll want to take care of your rental property in order to keep your security deposit, and you’ll certainly be required to pay your rent on time, however, aside from that you have nothing else to worry about.
Maintenance, repairs, and all other issues will be the landlord’s problem, not yours.
It might not sound like much of a benefit, but having fewer things to worry and stress about in life is a truly freeing experience indeed – and critical for good mental health.
Free access to expensive amenities
Imagine being able to go to a fully kitted gym every single day without having to leave the comfort of your condominium? Or being able to head outside for a swim at any time of the day or night whenever the mood takes you? Or being able to sweat out a hangover in a sauna? Or enjoy rooftop drinks with panoramic views of the Bangkok city skyline? Sounds awesome right? Well, when you look for apartments for rent in Thailand, these are just a few of the luxury amenities that you can gain instant access to.
Just as you won’t have any responsibilities, you won’t have any commitments either. Buying a property—whether at home or overseas—is a huge responsibility and a decision that mustn’t be rushed.
What happens if you buy a condo in Bangkok and decide you want to live in Phuket 6-months later? Or when you realize that you want to move back to your home country? Managing a property can be an expensive and time-consuming commitment; whereas renting will only bind you to a property for the duration of your agreement – and even then, you’re free to forfeit your security deposit if you are desperate to leave and move on early. All you’ll need to know is how to pack for your trip!
No massive down payment
When renting an apartment in Thailand, your biggest expense will be putting a month or two of rent down – including a security deposit. Other than that, it’s incredibly cheap to get set up with a new rental agreement. As for buying a property however, even with a mortgage, you’ll still be required to put down a significant down payment.
No concerns about property value
Renting = freedom. Freedom from constriction and freedom from concern. You don’t need to worry about the potential of your property depreciating in value and leaving you with an expensive property that you may ultimately lose money on.
Again, don’t let this article put you off buying property. There’s no denying the real life advantages of being on the property ladder under the right circumstances. However, don’t neglect to consider how freeing it can be to simply rent a property while you travel around and figure out where you want to settle down for life. Once you’ve got it all figured out, then you can concern yourself with a bigger commitment.