Costs, Taxes & Ongoing Budget

Start with the building’s age, construction quality, exposure, equipment and maintenance history. Set separate reserves for annual servicing, predictable replacement—such as pumps, air conditioners and exterior coatings—and major risks such as roofs, retaining walls or waterproofing. A new property still needs a reserve because warranties may be limited or disputed. Review the amount each year using actual invoices. Prepare three figures: cash required to…

Request recent electricity and water bills, meter type, tariff, common-area recharge method and any private supply arrangement. Pool pumps, air conditioning, hot water, irrigation and EV charging can materially affect use. Check whether bills are paid directly to authorities or marked up by a manager or estate. For off-plan property, ask for expected meter capacity and connection charges. A property that appears affordable at purchase can become difficult…

Overseas owners often underestimate inspection visits, emergency call-outs, key holding, bill payment, tax or accounting support, inventory checks, cleaning between stays, replacement of small equipment, storm preparation and supervision of contractors. A low monthly management fee may exclude most of these services. Ask for a full fee schedule and sample monthly statement before appointing a manager. Prepare three figures: cash required to complete, norm…

A purchase agreed in baht can become more or less expensive as the buyer’s home currency moves. Staged off-plan payments extend that exposure, and later costs such as fees, furnishing and management remain in baht. Build a currency buffer, document each transfer and obtain regulated financial advice where needed. Do not let an attractive exchange rate replace due diligence on the property. A property that appears affordable at purchase can become difficul…

Confirm building, contents, public liability, storm, flood, water damage, rental use, unoccupancy, pool, landslip and business interruption where relevant. Coverage and exclusions vary, especially for hillside, coastal, short-stay or long-empty property. The insured party and value should match the legal ownership structure. Keep maintenance records because neglected drainage, roofs or pumps can complicate claims. Prepare three figures: cash required to c…

Prepare a room-by-room inventory covering furniture, appliances, curtains, lighting, air conditioning, kitchen equipment, outdoor furniture, pool equipment, internet, security and linen. Phuket humidity and rental use can change the appropriate quality level. Separate items included in the contract from optional packages. For a resale, test equipment and record serial numbers and condition before completion. A property that appears affordable at purchase …

A villa estate may charge for security, roads, lighting, drainage, landscaping, waste, shared facilities or management, but the legal structure and owner controls can differ from a condominium juristic person. Review the estate rules, budget, accounts, voting, fee increases, arrears, reserve planning and enforcement. Confirm whether road and infrastructure ownership will transfer to owners or remain with a developer. Prepare three figures: cash required t…

Typical budgets may include estate or road fees, property management, pool and garden care, air-conditioning servicing, pest control, water systems, electricity, internet, insurance, security, cleaning, repairs and replacement reserves. Coastal and hillside homes may need more frequent exterior, drainage, pump and corrosion work. Build a twelve-month budget with a contingency and ask for actual invoices from the specific property where available. A proper…

A sinking fund is intended to support major common-property expenditure rather than routine monthly operations. Confirm the amount already held, how contributions are calculated, permitted uses, investment controls, recent withdrawals and planned projects. A new buyer may have an initial contribution, while an older building may need replenishment or a special levy. Inspect the accounts rather than assuming the marketing figure is adequate. Prepare three …

Check the fee rate, unit area basis, payment schedule, late charges, recent increases and what is included. Compare the current budget with actual spending on security, lifts, pools, landscaping, insurance, staff and repairs. Review arrears and planned capital work. The cheapest fee is not automatically best if the building is deferring maintenance or expects special levies. A property that appears affordable at purchase can become difficult if fees, main…

The contract normally allocates costs between buyer and seller, but the legal charge and commercial negotiation are separate questions. Transfer fee, withholding tax, specific business tax or stamp duty may apply depending on the asset, seller, holding period and structure. Do not rely on a simple “50/50” statement without a calculation. A Thai lawyer or accountant should confirm the current treatment before completion. Prepare three figures: cash require…

Budget for independent legal advice, title and company searches, survey, building inspection, translation, bank and foreign-exchange documentation, transfer-related taxes or fees, insurance, utility changes, moving, furnishing and immediate repairs. Off-plan and lease transactions may have different cost items. Ask for a written completion statement showing who pays each charge and which amount is fixed, estimated or dependent on the official appraised val…