The first thing I did in preparation for getting a house in Thailand was scour the Internet for all the information I could find on owning or leasing a house in Thailand. Most of the information I found was at Thai legal sites and forums. The legal sites had the nitty-gritty information and the forums had the personal stories and some mis-information.
I also purchased a book, actually an eBook, which was one man's tale about building a house in Thailand. This was a great twenty-dollar investment as it was very detailed, came with an English-Thai dictionary, and was loaded with pictures with Thai language for all the parts of a house.
Armed with all that information, I next contacted an English speaking lawyer who works in the area. I asked him many questions via email and received very prompt replies. I will be meeting him when I get to Thailand to make my purchase.
Since foreigners cannot legally own land, and I am not too keen on the ?create an imaginary business and incorporate yourself? loophole, I have chosen the usufruct route. This is basically where the Thai wife/girlfriend will own the land and I will have a ?lease? on the house where it resides. When I die, it reverts to her. If she precedes me, the property goes to me.
My girlfriend has already done the preliminary house-hunting and we will both go and make a final decision. She has been scouting properties in the 1.5 million to 2 million Baht range. This is approximately $50,000 U.S. dollars.
Now, I just needed to find an extra 50 thousand dollars lying around. I checked with a buddy of mine to find out how he paid for his Pattaya property and he told me that he just got a home equity line of credit. I checked into this, easily qualified, but did not feel like paying the fees. So, it was time for some more research.
I work for the government, and we have a retirement plan similar to a 401K called a Thrift Savings Plan (TSP). I found out that I can loan myself half of the money that is stashed away for my retirement and then be forced to pay myself back over 5 years with a payroll deduction. The loan rate is only 4% and I will be paying this back to myself, not some other lender.
The problem I had was that there was not enough in the TSP to cover the cost of my house. So, I had to transfer funds from an older 401(K) to my TSP so that when I took out half of the money, it would be enough to cover the cost.
Next, was to contact my bank to find out how to transfer the funds from Hawaii to Thailand. I checked my online account and found a very simple transfer form, but called the bank just to get it clear in my mind. It seems too easy. All I need to do is open a bank account in Thailand and then fill out an online form at my current bank, pay a $40 fee, call them to verify all is well, and the money will be transferred. Then I will be able to complete the transaction in Thailand.
Buying property in a foreign country can be a trying experience. So far it has been smooth, but I am just getting started. I think doing my homework, contacting a lawyer in-country, and finding out about the financial part before going to Thailand will all work in my favor. This way I won't be one of the horror stories that you read on the Internet.
As the most northern and eastern state in the country, Maine is one of the most unknown and untouched states. The entire population in Maine totals less than 1.5 million and in the northern half of the state there is less than one person per square mile of land. Part of the reason Maine is so sparsely populated is that winters that far north can be extremely cold and long, but in the summer, Maine truly lives up to its nickname "Vacation Land."
If you like spending time outside, Maine is one state that has a lot to offer. With the ocean lapping at the coast and trees covering eighty percent of the land, Maine is mostly green and blue with beautiful scenery almost everywhere you look. You can spend hours just watching the waves crash into crystal spray on miles of rocky coastline. On sunny days, play Frisbee or fly a kite in the ocean breeze at Fort William's Park.
It is also fun to visit one or many of Maine's light houses. If you like animals, take a whale watch off the coast or a ferry to nearby islands to watch harbor seals and blue whales. There are some sandy, pretty beaches in Maine, but be prepared to get a little numb because the water will almost always be cold. If you want to see some marine life without getting very wet, tide pools appear during low tide all up and down the coast.
When they are not enjoying the ocean, residents and visitors can also canoe, swim, fish, water ski, kayak and look for loons because there are over 2,000 lakes in state. Thankfully, Maine lakes tend to get a little warmer than the ocean.
The tail end of the Appalachian Trail, Acadian national park and Tumble Down Mountain are just a few places to enjoy hiking and golf courses like The Woodlands and Sunday River provide some of the best golfing in the country. In the winter, Sunday River is also a ski resort that caters to skiers all over the North East.
In addition to the recreation and the scenery in the area, dining in Maine is wonderful. Seafood never tastes better than the day it is caught and that's exactly the way it is served in Maine. Although shelling a lobster can be a messy process, many visitors really enjoy a meal of the rich, red and white meat dipped in a small bowl of butter.
If you don't want to deal with the mess of a lobster dinner though, try a creamy bowl of chowder instead. If you like fruit, you'll be happy to learn that Maine is the number one blueberry producer in the U.S. If you visit during the end of the summer, you can even take the whole family to Acton, Maine to pick your own berries. The fruit grows as thick as grapes on the cultivated bushes at Blueberry Hill Farm.
As you can see, Maine truly is a beautiful and fun place to be in the summer, but there is no denying that winters tend to be frigid and long. A snow blower or a plow is almost a necessity during the colder months. So, if you want to find renters for your Maine home in the winter time, you may want to choose a property strategically placed near a ski resort.
Owning your own property in Maine can also be challenging just because Maine has some of the highest taxes in the country. If you can afford the price tag, the location is great.
Both Lar & Art Gib are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Lar has sinced written about articles on various topics from Travel and Leisure, Credit Cards and Hotels and Hostels. Larry Westfall is a frequent traveler to Thailand visiting 2 to 3 times per year and saves time and money booking through Submitted by:. Lar's top article generates over 201000 views. to your Favourites.
Art Gib has sinced written about articles on various topics from Supplements, Teachers and self improvement and motivation. If you are looking for beautiful , learn more about the large lots and luxury homes in Great Brook Preserve (. Art Gib's top article generates over 1830000 views. to your Favourites.