Silverhill-Residence offers you several possibilities to become a resident. You make your choice according to your personal circumstances.
Purchase
In the area of villas for sale you can buy an already built home, or you can select a free plot of land on which we can build the mansion of your dreams.
Lease arrangement
If you opt for the so-called lease arrangement the Land Department will provide you with a certificate which gives you the right to use that land and any buildings erected on it for a maximum of thirty years. Even if the owner of that land wishes to sell it, your right to use that land does not expire. The law allows for an extension of the lease for a further thirty years, but such a contract will not be registered with the Land Department and is therefore a matter subject to civil rights.
Renting
You choose which property you wish to call your new home, then you can enter into an timeless rental agreement similar to the ones in your homeland. There is one condition: The rental period has to be at least one year. After that the contract can be terminated with three months prior notice.
With a cooperative share of 40'000 Euro, for which you'll receive interest in the form of a rent reduction, you will become a resident at Siilverhill. Should you wish to terminate the contract, this amount will be returned to you.
Advantages and disadvantages when buying
In recent years Thailand has seen a lot of development. Therefore land and house prices have gone up. If you buy a property you automatically profit from this rise in values.
However, as mentioned before, foreigners can not buy land in this country. No matter what sort of property you decide on, a maximum of 49% will ever be yours. The rest must be in the hands of Thai citizens. But there are several ways to ensure that you remain in control of your property. Indeed thousands of expats have already made use of these possibilities. If you live in Thailand for a while and have established a few connections, you'll find that these problems will solve themselves. We will certainly be ready to help you in finding a solution suitable to you.
Advantages and disadvantages when leasing
The big advantage with leasing is that this is at the moment the only legal and safe way to "own" land in Thailand, even if it is only for thirty years plus another thirty years. When leasing, you are absolutely safe for the first period, and even for a second period there are contracts that are legally sound.
The disadvantage of leasing is actually only an emotional matter because the lease holder feels that the land he lives on is not entirely his own. He also cannot pass it on to future generations, and even when reselling the property there are certain things to be considered. For many expats this time limit seems to be an important reason not to opt for this kind of deal, even though it is slowly gaining in popularity.
Advantages and disadvantages when renting
If you decide to rent you have the greatest flexibility. You wish to move to another home in our village? No problem.
Did you have a different perception of your life in Thailand? You can cancel your contract at any time (by giving notice three months in advance) and the cooperative share you contributed when signing the contract will be returned to you in full.
A not so pleasant but nevertheless important point: In case of your death your family will not be under any strain because of your foreign property. No one will have to travel to Thailand to conduct legal matters in a strange country. After finalising your accounts we will forward any money owed to you to the bank account you specified when signing the initial contract. And that will be the end of the matter. Mortgage rates in Thailand (8%) are relatively high when compared to Europe. However, because of sound financial management Silverhill is in the position to offer you rental payments based on a mortgage rate of only 5%. Nevertheless, rents, espacially when the contribution to the maintenance fund is included, tend to seem a little steep. Through increasing your cooperative share we offer you the opportunity to reduce your rental payments. The earnings on your investment are equivalent to the mortgage rate, at present 5%.
