SkyRider

I got quotes from two companies:

On 10/17/2020 at 1:51 PM, crazykopite said:

And it’s my understanding that those who own there homes now must have 3 million baht in a Thai bank this was announced last week as soon as I heard this I started withdrawing my savings Thailand is on a cliff edge and I am not going to risk losing my money if and when they put locks on the cash machines and limit what you can withdraw don’t say it can’t happen it happened in the U.K. a few years back never say never .

"those who own there homes now must have 3 million baht in a Thai bank this was announced last week" 

I haven't heard anything about this. Could somebody please elaborate on this?  

I'm about to put a 30,000 baht deposit down on a condo, to hold it for a month, before paying the final purchase price.

I've heard the money needs to come from outside Thailand, which I would use transferwise from my bank in my country to Thailand.

But for the 30,000 baht deposit, is it ok if I withdraw that from my Citibank ATM, (account in my country), get the receipt, and pay cash?  Would that be enough to prove that it came from outside the country, so that if I sell the condo someday, I will not have a problem getting the 30,000 back, and not have any legal issues of ownership?

On 4/20/2020 at 9:30 PM, jadee said:

I'm currently living in a condo that I bought in 2010 - so I'm not an investor or landlord, I just bought to live in, and I'd strongly advise anyone against buying a condo - this Nation article is probably a paid-for 'advertorial' written by a property agent. 
If anyone's tempted by the prices now, just wait a few months - even then it won't be a good idea. 

What are the reasons that you advise against buying?  

9 minutes ago, Peterw42 said:

Not sure why you would be so worried about termites. Condos are made out of concrete, not sure that there is any great termite problem with them eating concrete buildings. 

 

I lived with a girl in a condo, in the 800,000 to 1,000,000 price range, termites were eating the wooden part of the floor under the bathroom door, they were disgusting. Two of the condos I was considering renting / buying recently, turned out to have termites. I've heard three stories now, of entire ceilings falling down because of termites, at least one of them being in a condo.  

On 12/29/2019 at 6:15 AM, Peterw42 said:

When I bought a condo a couple of years ago $40k AU converted to 1,2m baht, I think I spent around 44k, I didn't buy a 800k condo, current rentals, then and now, are around 8k a month. with current exchange rates the figure would probably be around $50k AU for the equivalent condo.. 

Plenty of new build condos around for 1m-1..5m, 35-40 sqm.

I understand the concept of buying a condo and not paying rent again, although there is maintenance costs (lower then the cost of rent). I figure it would take 12 to 20 years to get the buying cost back compared to renting, depending on how much I paid for the condo. I am not a citizen in this country, no guarantee I can stay here. And it seems that any condo can eventually get termites, they are very difficult to get rid of, and some management doesn't even try.  Maybe I'm making a mistake buy continuing to rent and not getting any investment back for my money, but buying just seems to risky for me.  

Thank you for all your comments.  Most of the comments to my post has made me decide that buying probably has too many risks.  

So now I'm thinking of continuing to rent.  My landlord is thinking about selling the condo I rent, so I have to find a new room.  I wish I could find one that is not furnished, I'd rather not pay more money in rent for someone else's furniture. 

I'm a little bit concerned about landlords not wanting to rent to foreigners, because of the complications it causes for them with immigration.  I've already had a woman tell me that she will not rent her condo to foreigners.  

52 minutes ago, xylophone said:

I thought I would come back on the thread because of something you said in a previous post, and that was that you were looking at condos priced at between 800,000 to 1 million baht.

 

Now I don't know what sort of condo you would be looking at, but where I am you would be lucky to get an old POS (piece of ....) for that price, and it would be highly likely that you would have to spend money on it.

 

For example the plastic water pipes set in the walls have a habit of cracking, this is because they usually are set solid in cement/concrete and no movement is possible, so if the building moves ever so slightly, then the pipes crack, and trying to find a leak in a pipe set in a concrete wall is hard work indeed. The plastic pipes can also have a habit of cracking, simply because they are old, and not only that I've seen joints in walls that have been put together with no glue, so after a while they leak.......

 

So many things to go wrong with an old building, and although some of the newer buildings are even worse, some of the older ones really do suffer from the perils of "old age".

 

Food for thought perhaps.

1.5 million max budget. I was hoping I might be able to find a gem under or at 1 million, but that does not seem possible.

I didn't know this about the pipes.  

1 hour ago, xylophone said:

Termites are quite a common problem in Thailand, as they are in some other countries, and I've seen a house here just about eaten out of anything made of wood, so be careful.

 

Not only that they are extremely difficult to get rid of and although spraying may help, it often does not stop the little buggers from getting in elsewhere, or getting in again.

 

And a friend who has a top floor apartment here, has also had a termite problem, and he is at the top of a large block of apartments, so they are resilient and will travel anywhere for a feast of cellulose (wood)!! 

 

Just before I sign off, a few years ago I got a call from a friend who was renting a house nearby and he was worried because the whole ceiling in his bedroom (second floor) had collapsed on him due to the fact that the paper on the back of the gib-board had been eaten away by termites, so the whole thing fell in on him whilst he was in bed, and he was worried about the electrical fitting hanging down just above his head!!!
 

That's enough of a worry to scare me off from buying, just in itself.  

2 minutes ago, scubascuba3 said:

how did you spot them?

There was an exterminator there that told my girlfriend this, and she saw a line of spots that appeared to her to be a termite line. I didn't notice it, and she neglected to tell me this until later. She said she didn't realize how termites can damage a building. 

If there are termites in the building, but have not reached a unit that you are looking into - would a building inspector even know that the building has termites?  

I have now seen two buildings in the 800,000 to 1,000,000 range that had termites. 

Are termites in low cost condos common in Thailand?

10 hours ago, Lacessit said:

If the OP is young, buying a condo for the long haul would make some sense. Better to rent in your 70's, liquidity is more important then.

Last thing I would do is buy a condo in Bangkok. If Thailand is a bathtub, Bangkok is the plughole. 1 metre above sea level.

I'm 56.  Great point about the flooding. 

4 hours ago, xylophone said:

Well I've bought and sold two properties here, sold a condo for a friend, and I'm now renting.

 

Add to that the fact that two other friends have had major problems with buildings going up next to (and I mean within centimetres) of their property and it has cost them a great deal of money and many years to fight the developers to try and get some compensation – – as of now one has, and one hasn't.

 

Like other posters have said I was getting a fairly good rate of return in my home country for any funds invested, so easy to do the sums with regards to buying versus renting.

 

Other considerations I had when I eventually sold up and moved into a rental apartment, were the fact that I am only a guest here, and if they decide to change their minds, then I will be out of the door with no compensation paid for any property I own.

 

Following on from that, as can be seen around the country, there are many properties for sale, ranging from very small condos up to large villas, and the market is stagnant and has been for some time, so trying to sell a property if one wants to move/leave the country is tantamount to winning the lottery.

 

And trying to get something done about an unruly neighbour here is very difficult indeed, and furthermore if they are Thai, then that makes the job even harder.

 

Had I known what I know now, when I bought my first property, then I certainly would not have purchased.

 

Now I am free to go wherever I want, whenever I want, with the minimum of fuss and no worries – – and that is of paramount importance to me at my time of life.

Yes, as I posted before, not being a citizen of this country concerns me.  So does unruly neighbors, and if I want to leave, I might not be able to sell it.

You're renting an apartment Xylophone, not a condo? Isn't the electricity much more expensive in an apartment?  

2 hours ago, scubascuba3 said:

Also you may not like the place after a period of time. Rent for a few years to get a better feel for locations and any changes in visas, insurance etc.

 

Also depends on age, if 70 I wouldn't bother buying

I have to think long and hard about this, it's a huge decision, full of risks, and not being a citizen of this country certainly concerns me. 

I was thinking about finding a building I like that has condos for both rent and sale.  Rent in that building for a year (or more), see what I think of it, and if I like it, maybe buy a unit in that building.  

My budget is no more then 1.5 million baht.  (I've been here for 7 years, and have spent about 500,000 in rent. That's one third of 1.5 million that could have been invested in a condo).

I saw a condo today that seemed clean and cute, with a nice small swimming pool, asking 800,000. 

But then I found out that some of the units have termites.  

My girlfriend was told that the management is only spraying in the rooms where the people let them in. That seems like a huge problem to me.  

6 minutes ago, ezzra said:

If you're planning to buy now is the perfect time as the market is saturated with properties for sale in all areas and all sizes and prices, if you're in Thailand for the long haul than yes buy a condo, not a good idea as investment or renting, i'n stuck for couple of units for sale in Sukhumvit Rd for months now with not even one caller...

I plan it to be for the long haul. Although it does concern me that I am not a citizen in this country, and who knows what will happen regarding being able to stay long term.  

3 minutes ago, Peterw42 said:

How can you be getting a zero return on investment when you haven't made an investment.

 

Whether or not to buy a Condo would very much depend on personal circumstances, not sure that there is any blanket advice that may/may not cover your circumstances.

 

 

 

What I meant is, I am not getting anything in return for the money I'm paying in rent. 

I would just appreciate any advice at all, I want to thoroughly research whether to do this or not, research the risks, and what to look out for if buying.  

I've been thinking about buying a house or a condo in Bangkok or Sumat Prakan.  I've given up on a house because a foreigner cannot own land, and I think the 30 year lease is too risky.  

I also think buying a condo is risky, buy not as risky as a house.  (I've been paying rent and it has been zero return on investment.)

Any advice on buying a condo would be appreciated.  Thank you.  

Buying a house in Thailand, the land would have to be in my girlfriends name.

Since the land would not be in my name, I would like some security.  

How secure - or not secure - is a Usufruct 30 year lease?  

7 hours ago, xylophone said:

I have to admit that I'm not too au fait with the latest tax laws, however I did think that Chile signed an FTA with Thailand just a year or two ago, making their wines quite a bit cheaper, in respect of other non-FTA countries?

 

Also I'm not sure that the tariffs quoted are relevant now that the law has just recently changed on tax/tariff/duty, whatever one wants to call it?

 

Whatever the case as you quite rightly say, we pay far too much for wine here and I suppose I'm lucky in a way that I am able to buy some expensive wines a lot cheaper because of an association I have.

 

That still does not preclude me from looking for the "bargains" because the wines mentioned above do not become available very often, more's the pity! Anyway it's quite fun doing this and I get a great deal of satisfaction out of finding a relatively "unknown" wine which I manage to discover and which suits my taste buds.

 

As an aside, good to know that some Kiwi wines are finding their way here, the better ones being the whites, as although occasionally New Zealand gets rave reviews for its red wines, I really can't agree with some of the ratings they get, but perhaps that's just me!

That's a lot of very interesting information, thank you for this post. 

On 4/16/2018 at 4:19 PM, xylophone said:

I have just noticed some 5 L boxes of wines from South Africa, called "Africa Horizon" in Villa Market and wondered if anyone else had seen it.

 

It is what is called an "aromatised wine" which means that it has something added to it, but quite what, is not on the label, however at just over 1000 baht for 5 L it might be worthwhile for those folk who drink fruit wine to check it out and report back.

 

On another subject on here, I have been mentioning quite a few Chilean wines which may be worth checking out and I did mention that some of them seem to be a little "rustic" and I thought I would explain that a little more – –

 

Most of the Chilean wines I have tasted and have posted about have been from the lower price brackets and are therefore some of the lower end wines that Chile produces. So as Meatloaf has said, "if you're looking for a Ruby in a mountain of rocks........" you won't find one, but what you may find is a wine which is not a fruit wine and is better than the likes of Montclair.

 

Chile has a varied climate and is sometimes referred to as "cool climate" and I think a lot of these cheaper wines come from areas like that where the sunshine hours and heat are limited. That can play havoc with the Cabernet Sauvignon grape and produce something which is called an "herbaceous/green" wine; this because there has not been enough heat over a long enough period of time to get rid of something called methoxypyrazines, which are responsible for this herbaceous "flavour".

 

Bordeaux which can have similar problems with temperature, can also suffer from this, especially where the predominant grape is Cabernet Sauvignon.

 

So, persevere with the cheaper Chilean wines and see what you think, and perhaps try some with a little bottle age as this may help, and also the 2016 vintage was variable, so they are not exactly the pick of the bunch. Sorry about the pun – – partly intended!

So as Meatloaf has said, "if you're looking for a Ruby in a mountain of rocks........"

Great line, great song, and great album.  With the limited selection here, it's hard to find a ruby.  I've been passing on the Chilean wines, but once again, I'll take your advice, and try a few more of them.  

14 hours ago, xylophone said:

In that case seek out the following importer cos they import both Hopes End and Butterfly Ridge Aussie wines, and if it anything like a similar venture here, you can buy from them direct.

 

GALAXY FOOD AND BEVERAGE CO., LTD.
Address	45/99 MU 5 SOI PHROM SUPHA THANON BANGBON 3 LAK SONG, BANG KHAE, BANGKOK

Thanks again xylophone, I'll definitely check this out.     

30 minutes ago, churchill said:

 

Mont Clair seems now a lot more expensive than the Australian boxes or even 2 litre bottles by at least 50% .. unless the Australian wines go up in price how can Mont Clair  survive .

How can it survive?  That's what I'm wondering.  I'm wondering, who would buy it at these, prices, actually more then tripling in some stores. 

4 hours ago, giddyup said:

Ridiculous price considering the 2 litre bottles sold for 450 baht. It's virtually doubled in price.

I was buying Mont Clair in 10 liter boxes for 1499 baht. That would be about 150 per bottle.

1500 baht would be about 500 baht per bottle.  That's more then tripling in price. 

I've seen the 3 liter boxes for 999 and for 1199 - either way, that's still way too expensive for that wine.  

4 hours ago, xylophone said:

Phuket.................and you aren't?

Whoops, sorry. I made the mistake of assuming you were in Bangkok.  I'm in Bangkok.  

1 hour ago, giddyup said:

I've been buying the 2 litre Castle Creek for 450 bht since they increased the  price of Montclair by 40%. At least as good as the Montclair IMO.

At the time that the Mont Clair boxes disappeared, I also didn't Castle Creek. If I had seen the 2 liter Castle Creek before I bought the higher price bottles, I probably would have gone that route.  I had actually gotten use to the cheaper wine.  But since I've had much better tasting bottles, and I tried a little bit of Mont Clair that I had left, it tasted horrible, comparatively.  I feel like I can't go back to the cheaper wines now, the higher priced bottles just taste so much better.