If we talk about purchasing properties, regardless of house, townhome, or condominium, the picture of the solid building tends to be the first thing to pop up in our mind. However, looking deeper into it, there are 4 opportunities hidden within these buildings.

1) Savings: In case we buy a newly constructed property, the expenses will be divided into 2 parts which are the expense we pay to the project during construction and pay once the construction is finished. The expense we pay during construction can be separated into deposit money, a lump sum for a contract, and down payment. Every down payment made is equal to setting aside some of our income into savings in the form of property that has a tendency to increase in value.

2) Tax Deduction: When the project is completely constructed, here comes the time we have to pay the remaining fees (property price subtracts deposit money, contract money, and down payment). In this part, if we choose to request housing loans from the financial institutions, we can use house interest for annual personal income tax deduction according to the amount spent and not more than 100 000 baht. Also, in the tax year 2019, the expense on the first house with land or condominium bought will get a tax deduction of up to 200 000 baht with the price of not exceeding 5 million baht. Property purchase and conveyance should be done between 30 April and 31 December 2019.

Buying property is one type of investment that gains us more than just a building to live in. Nevertheless, we have to always be reminded that every investment comes with a risk. We have to constantly gain knowledge in this field. We have to know the location and how to grab the opportunity. Ordinary people like us can actually gain a lot from the property.

* Reference to Bank of Thailand

References : https://blog.sansiri.com
https://aommoney.com