Chonnikarn

Pinning down exact costs for design approval and construction can be tough because it really depends on the scale of your project, the complexity of the design, and maybe even specific local requirements.

I'm not quite sure about the insurance company reaction so have to wait for their decision on covering the costs.

I'm Thai and I've never seen a hotel at that price in the last 5 years. Even for a hostel, it's still hard to find that price.

For Condo ROI in Thailand really depends on many factors location, market timing, various fees, taxes, etc. Plus, you usually need to hold it for the longer term to see worthwhile returns. Are you sure how long you plan to stay in Thailand? If you're not certain, or maybe just for a few years, renting first could be more flexible. It reduces the risk of price drops when selling, and avoids the burden of finding tenants or managing the unit. Just something to consider.