There are people all across Thailand who own their property and there are others who think that there is a better option and it comes in the form of renting. When you think of what you have to go through in order to get a mortgage in the first place then it doesn’t bear thinking about. Signing a rental contract and coming up with the first and last month’s rent as well as a small deposit is much easier to get through than signing on the dotted line for a mortgage and committing yourself to a set amount of money that has to be paid no matter what for the next 25 to 30 years.
Due to all of this, many people decide to go down the rental route and they are much happier for it. At the moment, there are quality and affordable condos for rent in Bangkok and there are many different ones to choose from in many fantastic locations. If you are a little on the fence when it comes to whether or not you want to buy a property outright or you want to rent one for the time that you need it then the following are just some of the many benefits of renting instead of buying.
No maintenance or repairs
If you own your own property then you must carry out regular maintenance to protect your investment and if any repairs need to be done then you also need to do these by yourself or pay a professional to do it. The beauty about renting a property is that your landlord is responsible for everything when it comes to maintenance, improvements and any repairs that need to be done.
You get access to amenities
Many condo buildings come with their own swimming pool, gymnasium, shared municipal area and many other things. You get to enjoy all of these things within the cost of your rent and so you can live a very upscale life and enjoy the amenities that wouldn’t otherwise be available to you if you owned your own property. Building a swimming pool is expensive as is setting up your own gymnasium.
No large down payment needed
It has become increasingly more difficult to get a mortgage on a property nowadays and many institutions are asking for upwards of 20% of the property’s value before they will even consider lending you the money to take out the mortgage. This can amount to a significant amount of money depending on the price of the property and when it comes to renting, you just need the first month, the last month and a small deposit to be able to move in immediately.
These are just three of the reasons why renting makes a lot more sense than buying and there are numerous more. Make the right decision for you and your family today and let your landlord take all of the stress away from you.
