I choose Thailand.....not sure why?

[Kadilo]

I recently sold a condo off plan and made a small profit too. I think it’s fair to say there’s is still money to be made for the right property, but there is a lot that will fail from a business perspective. 

I agree with the sea view. 

[hugh mckee]

thanks newnative, I think a seaview and next to the beach would be special and if I were to bail out and instead choose cyprus or tenerife I'm not going to get as close to the beach for what it costs in Pattaya, probably add 60%, 70% or more and out of my budget.

 

seems the reasons i bought I now ignore and focusing instead on the bad stuff, I admit i do listen too much to the bad stuff, I'm an indecisive person who was decisive when choosing my condo and now read all the bad shit and I shouldn't, it was not my intention to encourage people to post good stuff but admit I am enjoying reading the positive messages and feel better for reading them and have a decision to make in early new year about staying or selling and I am encouraged by the positive posts.

 

seems for now the negative posters are having the day off?.....I did expect to get hammered but wanted to get my thoughts off my chest and here on my own so thought why not post what I am thinking?

Edited November 14, 2017 by hugh mckee

[JSixpack]

10 minutes ago, hugh mckee said:

I came on here to read that only an idiot buys off plan and that the market is about to crash big time

 

 

Buying off plan in a Third World country is a risk and that's where almost all of our horror stories come from. Personally I wouldn't do it; I'm risk-averse and lazy, too. I lived in my building a year before I decided to buy. But then again the horror stories are few relative to the size of the market. Most projects are completed and most owners are happy enough, all considered. And some have reported selling at a profit. (Only a small number of owners post here and dare report anything positive. Renters absolutely hate the idea of anyone's having made a profit; it contradicts the whole narrative.)

 

Far as the crash goes, ace TVF Economists, who're merely renters with no real business background anyway, have been forecasting that for decades. I keep asking for a date--the question is always ignored. A broken clock, eh. One of our ace macroeconomists looks for any negative news around the world and attempts to relate it Thailand. Actually there's a lot of positive news what with the Eastern Economic Corridor planning.

 

Well, economic fearmongering is a time-honored way of getting attention and is a way for a renter to express envy. Franz Pick made a pile with it back in the 70s & early 80s:

 

 

But so what if did crash? If you've bought your condo to live in long-term--as you should have, unless you're one o' them sophisscated investors--then you just order a pizza from New York Pizza House, pop a Chang, and keep living in it. Meanwhile your foreign income/currency should have appreciated nicely against the baht, so buy yourself another condo and it's . You may anticipate, however, that if you read any of our recurring CONDO GLUT/CRASH/FOOLS BUY REAL ESTATE threads, that renters will do their best to try to make you unhappy. Hence maybe just ignore them and enjoy living in your place. Cheers from the balcony, man.

[JSixpack]

15 minutes ago, hugh mckee said:

seems for now the negative posters are having the day off?

 

 

The title of your post didn't suggest that this could be a FOOLS BUY REAL ESTATE thread. They may catch on soon and pile in.

Edited November 14, 2017 by JSixpack

[lamyai3]

Nothing to suggest that you have any actual problem here. If you moved into the condo and found it was next to an all night disco that's another issue, but your place will most likely be fine. 

 

As to no sun for two weeks, if you live here you'll soon come to relish a break from the sun. Thailand (and Pattaya) can be great places to live, you already have a condo and you're the right age to qualify for reliable visa options, without being too old to enjoy things there. 

[JSixpack]

Just now, Mansinthe said:

 Is there a fee/tax condo owners have to pay per month ? What monthly costs are there?

1

 

No ongoing property tax. Fees, a pittance compared to what you'd pay in the West. Our bean counters will be along soon w/ a range of sq.m. figures.

 

Quote

And how long do these Thailand condos last ? 20 years 25 years? 50 years?

1

 

All are guaranteed for a minimum of 1,000 years.

 

Quote

In germany i would have to pay alot for property tax and insurance stuff that i prefer to rent a place.. not to mention what repairs would cost...

4

 

Repairs are relatively cheap here. I got a Mon to paint my balcony, slaved in the heat all day for B500. Did a great job, too.  

[AlexRich]

Are you really saying that you want to leave Thailand because of what you have read on here, or because of the experiences that you have had since coming to live here permanently?

 

I visit Pattaya for a few months each year and manage to enjoy the place whilst avoiding the negatives. I have a good gym, enjoy the cinemas, restaurants ... and occasionally the night life. 

 

The Thai Visa forum is a constant battle between those that highlight the dangers and those that defend Thailand more than a Thai would. The truth is somewhere in between these positions. If you can avoid the negatives you can have a great time here. If you can make a few decent friends and get yourself into a happy routine you might feel a bit better about your condo purchase. If you are in no hurry to leave you may want to give it another year and see how things pan out.

 

 

 

 

[KittenKong]

13 hours ago, hugh mckee said:

nothing has gone wrong, after I bought it  I came on here to read that only an idiot buys off plan and that the market is about to crash big time, I try to tell myself these guys are idiots but be lying too if i didn't think what if they are right? what have I done?

 

Whilst the trend for prices is currently downwards, I see no reason why there should be a big crash (short of some major unrelated world event).

 

 

13 hours ago, hugh mckee said:

I fell in love with the idea of owning my particular condo that's why i bought, it's nowhere near finished yet but when it is next year I think it will be one of the most desirable one bed condos in Pattaya and won't be difficult to sell as has great location next to the beach with uninterrupted sea views, well I hope won't be difficult to sell.

 

Well, if it does have a nice view and is in a nice location then it should hold its value fairly well. At worst you may be looking at a 10-20% drop, which is not the end of the world. But do keep your eyes open for any new structure that might remove your view. If you have bought carefully this wont be possible, but there are many who wrongly assume that just because the next door plot has been empty for 20 years it will remain empty for the next 20.

 

 

13 hours ago, hugh mckee said:

ever since I bought I've became a regular reader on here and to be honest I was clueless about Thailand and many of the things that go on here and much of what I read has made me come to the conclusion that I made a big mistake,

 

Before I came to live here I knew that many of the people here, of all skin colours, are grasping and selfish and dishonest and inconsiderate. I also knew that a lot of things one buys in shops are very expensive and that there is little choice. I also knew that corruption is rife in every walk of life, and that there is often little in the way of a work ethic or conscientiousness to be found.
But I also knew that the utilities are reliable and that most day to day costs including condo maintenance fees are fairly low, and that the general tasks of daily living (paying bills, owning a car, visa extensions) are quite simple, and that the streets near my condo are safe to walk in (though I would avoid areas like Beach Road at night). I also knew that I would save a lot of money on income tax and that eating out would not bankrupt me.

So the bottom line for me was that this is a reasonable place to live as long as I avoid most of the people, which I what I do. And it all works out quite well.

[newnative]

5 hours ago, Mansinthe said:

 Is there a fee/tax condo owners have to pay per month ? What monthly costs are there? And how long do these Thailand condos last ? 20 years 25 years? 50 years?

 

In germany i would have to pay alot for property tax and insurance stuff that i prefer to rent a place.. not to mention what repairs would cost...

      As JSixpack has said, it's much cheaper to maintain property here.  In America, I would be paying much more expensive monthly condo maintenance fees.  My monthly fees here on the 2 bedroom I own in a very nice condo development in Pattaya cost about $88 a month. In the US I would likely be paying $350 or more.  Many 1 bedrooms here have monthly condo maintenance fees of $50 or less a month, scarcely more than the cost of a dinner out for 2 in America.  And, if I had a condo on the ocean in the US, it could be even more in some places  with expensive hurricane insurance. 

        Most places in the US also levy property taxes so that is another expense I don't have here. Water and electric are very reasonable here, as well.   Really, one of the best things about owning a condo in Thailand is how cheap it costs to maintain it, and keep a roof over your head, once the purchase is made.  Rents are also very reasonable for those who prefer to rent.

       Condos here can last as long as anywhere else and I would rather be in a strong concrete building here than some of the flimsy frame-built condos in America that I lived in.   Yesterday my partner and I looked at a condo in a small building that was built in 1971.  The project was being beautifully maintained--building freshly painted, pool in great shape and water sparkling clean, walkways all in repair, elevator good, landscaping excellent, everything neat and tidy.  Condos, here or anywhere, can also be maintained not as well so it pays to check things out before buying. 

[Anythingleft?]

Have any of the negative postings you may have read affected you in your time here? Seems like you need to live your own life and have a look outside away from this forum, if you don't like something then try to change it. Your life to live nobody else's...
It's quite easy to get caught up in the silly negativity here

Sent from my SM-G900F using Tapatalk

[bkk6060]

Most people have lost money in investments at some time in their life.

If it is that good you probably won't lose much if you sell at a loss.

Just sell it after completion, or rent it out.  It certainly is not the end of your life or end of the world.

 

[lkn]

On 11/14/2017 at 6:03 PM, hugh mckee said:

ever since I bought I've became a regular reader on here and to be honest I was clueless about Thailand and many of the things that go on here

I am curious about what exactly you are referring to. Is it about build quality, scams, double pricing, corruption, dishonest/incompetent building staff/JPM, or something else?

 

I know there is a lot of negativity on TV, especially about buying real estate, but most of it is just the same stupid mantras being repeated without any solid advice, yet there are many of us who are perfectly happy with our “investment” here in Thailand.

 

Just don’t expect Western build quality when you are paying a fraction of what it costs in the West, and be prepared to take an active role in committee work if you care about how the building is being run: You’re retired, so it’s not like you don’t have the time to involve yourself with this. I’d wager that many buildings are mismanaged only because none of the co-owners care enough to do something about it.

 

The main “problem” I have with Thailand is that authorities don’t care about pedestrians (often leaving out sidewalks), public spaces (like public parks), and abandoned buildings / vacant plots (leaving us with countless eyesores).

 

Edited November 17, 2017 by lkn

[KittenKong]

1 minute ago, lkn said:

I am curious about what exactly you are referring to. Is it about build quality, scams, double pricing, corruption, dishonest/incompetent building staff/JPM, or something else?

 

Or all of the above?

 

 

2 minutes ago, lkn said:

Just don’t expect Western build quality when you are paying a fraction of what it costs in the West,

 

Beach condos here are not always much cheaper than properly built Spanish ones. And in Spain they have no bizarre rules about foreign ownership ratios.

[Destiny1990]

The Massages and the food and lower overall prices.

[JSixpack]

2 hours ago, KittenKong said:

And in Spain they have no bizarre rules about foreign ownership ratios.

1

 

'Course, now,

 

Expatriates living in Spain need a thorough understanding of the Spanish tax system and how it applies to you. Only then can you establish what tax planning steps you can take. Because there is the good news – there are often ways to lower taxes on your investment income, assets, pensions and estate. This is not an area for ‘do it yourself’ financial planning, you do need specialist guidance. Getting it wrong could be costly.

     --https://www.blevinsfranks.com/news/blevinsfranks/article/living-in-spain

[bkk6060]

The place is not for everybody, especially Pattaya. Pattaya is an amped up big buzz of a place.

I came here for a few reasons.

#1 sex lots of it.  Hate 65 year old smelly falang ladies.

#2 A decent lifestyle.  Not Socal but also 1/3 the cost.

#3 With #2 I am saving quite a bit of money which I wasn' t doing much of before.

#4 I actually do like the people culture and food. More of a free lifestyle from where I came.

#5 more and more sex.

 

If one kind wants to slow down I think Chiang Mai is good.  About 30 minutes outside the city Mae Rim is very nice.

[thaibeachlovers]

On ‎11‎/‎14‎/‎2017 at 3:57 PM, hugh mckee said:

I'm not sure the point of my post either? and you are right I was a bit quick but I'm in my 50's, how long can I wait? I decided to take the leap and buy a condo and never once read Thai Visa and then started reading, maybe looking for positive messages as it was a big decision for me, looking for reassurance I'd done the right thing, sadly for me that's not what I read and completely surprised by so much negativity so instead of reassurance got the complete opposite and now regret my decision and admit I am an idiot.

 

before I'd only read barstool banter on pattaya addicts and maybe I should have stuck to that?

Don't stress it. I had been on TVF for years but never read the divorce subforum till after I got divorced. Had I done so before I got married I might have saved myself a lot of money and heartache.

[HooHaa]

absolutely ridiculous to regret your purchase due to the moaning, bitterness and venom you read on thaivisa.

are you that insecure or careless that you didnt have a clue what you were getting into?

 

this just sounds like purchase anxiety to me.

 

[amvet]

2 hours ago, HooHaa said:

absolutely ridiculous to regret your purchase due to the moaning, bitterness and venom you read on thaivisa.

are you that insecure or careless that you didnt have a clue what you were getting into?

 

this just sounds like purchase anxiety to me.

 

Average Thai Visa poster in London or Boston.  Remember that when you read the forums. 

Edited November 17, 2017 by amvet

[Ulysses G.]

"I recently bought a condo off -plan in Pattaya and now sorely regret it"

 

Well, I am the opposite opinion. I lived in Thailand 25 years and then returned to the West. I would give anything to own a condo in Pattaya, but have to work in Southern California for a few years. Blecck. 

[Ulysses G.]

16 hours ago, amvet said:

Average Thai Visa poster in London or Boston.  Remember that when you read the forums. 

Ad L.A. to that list.

[KittenKong]

21 hours ago, JSixpack said:

 

'Course, now,

 

Expatriates living in Spain need a thorough understanding of the Spanish tax system and how it applies to you. Only then can you establish what tax planning steps you can take. Because there is the good news – there are often ways to lower taxes on your investment income, assets, pensions and estate. This is not an area for ‘do it yourself’ financial planning, you do need specialist guidance. Getting it wrong could be costly.

     --https://www.blevinsfranks.com/news/blevinsfranks/article/living-in-spain

 

I dont see the connection with ownership ratios as applied here?

 

People everywhere should pay attention to tax issues, if they want to save money.

[Watchful]

On 11/14/2017 at 2:08 PM, Mansinthe said:

In germany i would have to pay alot for property tax and insurance stuff that i prefer to rent a place.. not to mention what repairs would cost...

 

Your reasons for renting (ie avoiding property tax, repairs, insurance, etc) are NOT valid reasons for choosing renting vs owning.  Believe me as a landlord for over 30 years all of those costs PLUS are included in my rent rates just as they are included in my competitor's rates.

 

You don't really "avoid" costs by renting. Now, clearly you can avoid "risk" by renting. That is you avoid losing some of your investment when you sell in a down market. But that "risk" is a two edge sword. You also never experience any return should market values increase.

 

In my case I lost a little on one unit, broke even on another and won big time on the third. That big "win" however was due to a great deal of effort (evicting all tenants and replacing with better people allowed me to get repairs under control and that mean higher profits. Higher profits = higher value upon selling).

 

 

[Watchful]

On 11/14/2017 at 6:50 AM, hugh mckee said:

thanks newnative, I think a seaview and next to the beach would be special and if I were to bail out and instead choose cyprus or tenerife I'm not going to get as close to the beach for what it costs in Pattaya, probably add 60%, 70% or more and out of my budget.

 

seems the reasons i bought I now ignore and focusing instead on the bad stuff, I admit i do listen too much to the bad stuff, I'm an indecisive person who was decisive when choosing my condo and now read all the bad shit and I shouldn't, it was not my intention to encourage people to post good stuff but admit I am enjoying reading the positive messages and feel better for reading them and have a decision to make in early new year about staying or selling and I am encouraged by the positive posts.

 

seems for now the negative posters are having the day off?.....I did expect to get hammered but wanted to get my thoughts off my chest and here on my own so thought why not post what I am thinking?

 

How do you know that a real estate investment in Cyprus or Tenerife would hold its value?

 

Condo market is under pressure in Thailand right now, but who says it will continue?  What makes this market so complex is Thailand's constantly changing immigration policies. Right now Thailand is actively courting foreign investment. That will NOT work with very strict immigration policies. They'll have to open things up if they really expect foreign companies to invest in Thailand. A loosening of immigration policies could significantly impact the condo market so do not be too quick to take a loss.

 

Enjoy your vacation and just watch what the government does. They change so often and so fast, that I would not despair. Prime real-estate with a good sea view will always be in demand.

[newnative]

26 minutes ago, Watchful said:

 

How do you know that a real estate investment in Cyprus or Tenerife would hold its value?

 

Condo market is under pressure in Thailand right now, but who says it will continue?  What makes this market so complex is Thailand's constantly changing immigration policies. Right now Thailand is actively courting foreign investment. That will NOT work with very strict immigration policies. They'll have to open things up if they really expect foreign companies to invest in Thailand. A loosening of immigration policies could significantly impact the condo market so do not be too quick to take a loss.

 

Enjoy your vacation and just watch what the government does. They change so often and so fast, that I would not despair. Prime real-estate with a good sea view will always be in demand.

Liked your last sentence--so true.  And, not a glut of it in Pattaya.  The OP should do just fine. 

[JSixpack]

1 hour ago, KittenKong said:

 

I dont see the connection with ownership ratios as applied here?

 

People everywhere should pay attention to tax issues, if they want to save money.

 

You're right of course. Just pointing out that other factors come into play as well, which noobs might be aware of. You've mentioned the tax advantages of Thailand previously.

[hugh mckee]

On 17/11/2017 at 7:13 AM, HooHaa said:

absolutely ridiculous to regret your purchase due to the moaning, bitterness and venom you read on thaivisa.

are you that insecure or careless that you didnt have a clue what you were getting into?

 

this just sounds like purchase anxiety to me.

 

yes I know I am being ridiculous and definitely is purchase anxiety, I considerd Spain but their tax issues scare the hell out of me and Cyprus which is good value but ultimately choose Thailand as this is where I almost always go on holiday, I was naive to the goings on in Thailand which I've since read on here and it was not for me a small purchse costing £175k and a one time opportunity for me, cost me more than my home in UK but to live  next to the sea in a new build with a unbroken sea view means you have to pay a large premium, I could have saved £50k by being half a mile away from the sea in an older property but I'm only doing this once and is an investment only in the quality of my life, not interested in making money and dieing a richer and unhappier man.

       the same way I have been put off by what I've read on thaivisa I am encouraged by what I've read on this topic, I'm now back in the UK and guess where I wish I was right now? nowhere is perfect and most of the issues people complain about on here will not affect me, you only get one life, this isn't a practice, the years fly by and this is why I decided to buy my condo and make my quite boring and quiet life a bit more interesting and fun, you can say many things about pattaya but never boring or uninteresting,

nothing is perfect, I love Thailand, I hope I made the right choice, in future will try my best to ignore and not read the guys who have got absolutely nothing good to say about Thailand on here, I don't really get these guys? if thailand is so bad, why are they still in Thailand? why are they on a Thai forum? and why do I even take any notice of them???

 

thanks for all you comments.

Edited November 20, 2017 by hugh mckee

[The manic]

Ignore the TV trolls. They are weak minded damaged losers. But...travel around Thailand and have a break from Pattaya.I follow the festivals especially around Issan. And get a back bone.

[The manic]

On 18/11/2017 at 9:18 AM, Ulysses G. said:

Ad L.A. to that list.

Brilliant.

[The manic]

On 17/11/2017 at 12:23 PM, JSixpack said:

 

'Course, now,

 

Expatriates living in Spain need a thorough understanding of the Spanish tax system and how it applies to you. Only then can you establish what tax planning steps you can take. Because there is the good news – there are often ways to lower taxes on your investment income, assets, pensions and estate. This is not an area for ‘do it yourself’ financial planning, you do need specialist guidance. Getting it wrong could be costly.

     --https://www.blevinsfranks.com/news/blevinsfranks/article/living-in-spain

loads of expats lost big money in Spain.