40k Baht Lifestyle

[johnny7634]

We are planning to move sometime in March. Retirement requires me to have 800k baht in bank no prob as I can muster maybe between 40-50k GBP. However we (2 persons) plan to live off the rental of our home here in the UK. Rental income about 600 GBP after all deductions. We plan to rent in Hua Hin. Rental Budget up to 20k baht per month (approx. £300) therefore balance of £300 per month to live on. Question: After utility bills, reporting every three months to immigration and the associated cost, is this enough to live on? Obviously we are not looking at a holiday life style.

[londonthai]

if it's only 2 of you - get something smaller and cheaper than 20k (especially if it's a long term contracts, for many years).

yoy might look into private english teaching or same other low profile jobs to entairtain yourself and top up your income

[libya 115]

We are planning to move sometime in March. Retirement requires me to have 800k baht in bank no prob as I can muster maybe between 40-50k GBP. However we (2 persons) plan to live off the rental of our home here in the UK. Rental income about 600 GBP after all deductions. We plan to rent in Hua Hin. Rental Budget up to 20k baht per month (approx. £300) therefore balance of £300 per month to live on. Question: After utility bills, reporting every three months to immigration and the associated cost, is this enough to live on? Obviously we are not looking at a holiday life style.

Yes, and No. It is possible to live as a couple on 300 GBP per month, but beware of the unexpected expenses, that will swallow up a month or two of the allowance.

I have been in Thailand over five years. As a couple my expenses aim was 40,000 baht per month. However the average over my time here is 53,000 baht per month.

Also; consider health and home contents insurance and travel costs and household bills, which seem to get higher every month.

Good luck in your quest.

[Jet Gorgon]

Agreed on both counts. Bt20,000 is way to high for rent. You should be able to find a jungle home for even 4 or 5,000. Hunt around, say you will stay long time, pay a few months in advance.

Get to know your area. Shop at the cheap wet markets and watch what other people pay, too. Cook and drink at home mostly, altho it's good to go out a few times a week to meet people. My one person plus dogs/cats budget is about 35,000/mo. Rent 8,000. But I drink alot of wine...

[paulsmithson]

Do you not get the state pension? thia could top up your money considerabley.

[sua yai]

I've been renting my property out in the UK for knocking on 9 years and living over here. I'm sure you've thought about it, but you will have maintenance and other costs back in the UK at some point. As you can probably fall back on the lump sum you refer to in this situation, I'm sure you're covered.

As an example, last year (between May-Apr), I spent over 250,000 B on my place. That was extraordinary and this year - so far - has been nothing like it. It will hit again though, of that I'm certain. So, I need to always save back in the UK every month for these rainy days. I do not have a lump sum to fall back on though. You also may get void periods in your tenancy - so no income.

However, that 40-50 k back home will dwindle over the years if you're unable to add to it from savings. Just a thought from someone who's been doing it for a while.

[November Rain]

You'll be able to find something cheaper than 20k in HH, but depends what you want & where you want to live. If you want a condo on the beach, you'll pay more than 20k, but a townhouse slightly further out will be cheaper. At present I live in a 2 bedroom, 1 bathroom bungalow with a garden, 2 aircons, water heater in bathroom & pay 9,000 per month. I'm about 7 mins drive from central HH or 15-20 mins walk.

For 40k living expenses you should be OK, but if your lifestyle demands lots of eating out, imported food (cheese, wine, deli meats), golf every day or similar, you may find it a bit of a stretch. Good idea, as Miss Gorgon says, to buy as much food as you can at the market, rather than supermarket or deli. Good luck.

[macb]

Agreed 20k for Rental far to high: I tend to spend to much on Farang food whilst some of the stuff my wife eats in the village I cant, I do eat a lot of Thai food, when you can get a meal for 30 bht that is very filling.

Cheese bread jam marmalade potatoes veg bacon sausage meat pies Steak chicken pork etc

Whilst I can afford all these nice things really I could adapt to more local foods that are I know I can palate.

But yes beware the hidden costs I tell all my firends and new expats this its very important

[Jet Gorgon]

Totally agree with all the posts. You really have to learn basic living. Do you need a telly never mind cable charges? Phone, computer (well, ya, so you can log onto TV). Many richer farang will be around, and may make you jealous, but if you try to live their lifestyle, you won't last long.

[raybkk]

So after your accomodation cost you will have Baht 20000.- left. That leaves you with about Baht 300.- a day per person. I would say impossible.

Spent one day on the beach with food and drinks, you will be locked up at home for the week after.

[dclaryjr]

golf every day

Now you're talking!!

[wilko]

I think you are aiming to spend too much rent, you should easily get it down to 10 k or less.

THe remaining 30 k will leave you a fairly meagre lifestyle. If you eat Thai and live Trhai then you should be fine, but don't expect a luxury "western" lifestyle.

[naka]

On your budget you plan to spend too much on rent.

And now a question for you, Do you really want to have to live on Bt 20,000 a month ?

and if so, then for how long ?

Seems to me you may end up in a poverty spiral.

Naka.

Edited January 20, 2007 by naka

[londonthai]

if thai people can live on 100 baht/day (including rent) than some 500 baht/day (excluding rent) for farang should be enough.

as I said there are always ways of making maney locally - even if small, part time/casual work or work over the internet

[fanciman]

Find a 3000 baht a month one room place to live in a cheap town in thailand.

Of your 40k, put away 5000 every month for unexpected expenses, and you could live nicely on the remainder.

But not very nicely

Think about medical expenses etc.

[andyadam]

I managed to survive with my girlfriend on 40k a month but we were only paying 5500 rent but 6000 for the car payments and 5000 for the gf's uni, it was 4 years ago and things were a bit cheaper and it's not luxury living by any means so possable.

As per all the other posters, rent a cheaper place. you can rent a house in Pattaya for 12k a month, I'm sure there must be cheaper rentals on the other side of the bay.

[johnny7634]

if it's only 2 of you - get something smaller and cheaper than 20k (especially if it's a long term contracts, for many years).

yoy might look into private english teaching or same other low profile jobs to entairtain yourself and top up your income

Thanks. Partner is a qualified NNEB nanny. Any opportuniy for her?

[DragonQuest]

40k is luxury to most thai peolpe, for farang its ok, depends on your lifestyle really.

[johnny7634]

Do you not get the state pension? thia could top up your money considerabley.

Not old enogh to qualify for state pension. About 4 years away.

[LivinLOS]

Dont forget that inflation is running pretty high.. Gov published CPI is 4.9% but many foodstuffs are running 10 - 20% !!

[smacko]

Thanks. Partner is a qualified NNEB nanny. Any opportuniy for her?

maybe some of the rich local farangs would be interested in a British nanny... but then you run into the problem of work permit unless your doing it for cash and everyone keeps quiet.. you need to do some networking once you get there, see what you can work out... but you wouldn't want to factor any income like that into your budget but just some extra pocket change.

[ronw]

40k is luxury to most thai peolpe, for farang its ok, depends on your lifestyle really.

It will depend on where you live, as well as how you live.

I am in Pai, am buying a house and a car, and get by quite comfortably on 40 K/month....

At the moment there are few outright luxuries,but soon the car will be paid -for.....and then we can expand a little...

but it mostly depends on your choice of lifestyle..........

[Briggsy]

Get out of that rental agreement as soon as you can. On your budget, it is clearly extravagant and sounds like something arranged with UK rents in mind and not Thai rents.

Say 8000 a month could get you a small house. This leaves 32000 for two for a month. Doable but if you like a drink and farang restaurants you could overspend.

Also how often do you plan to return to the UK? This may be impossible to manage within budget.

[marshbags]

Why not come out on the basis of trial and error.

There is only one sure way to find out if it is within your financial capabilities and that is to give it a go.

Adjust accordingly and look around different areas away from the major tourist places where costs are more reasonable.

We can all offer you good advice based on our experiences but at the end of the day only living here will answer your questions as per your own personal circumstances and expectations.

T.Visa members have already posted some good positive information and being a member yourself will only enhance you stay here along with a multitude of forums at your fingertips on all and sundry

The 2 things that stand out after your Visa requirements that several posters have observed are your rent and your style of living.

If you live in moderation first of all and possibly improve it accordingly later on when you,ve had time to judge for yourself, if you are living beyond your means or not.

Baring in mind there are 2 of you to consider, will it all be compatable relating to culture and possible life style changes to BOTH of you ?

You can rent a reasonable property outside and away from the Bangkoks, Phukets and Pattaya,s for 4-5K with no problem, possibly less if you look around and rent privately.

Short term:-

Stay in a reasonably priced apartment / hotel and take a ride around the area where you should find properties with signs on the gates ( possibly in Thai ) which usually indicate they are available for rent, jut take the Tel.No. and get someone trustworthy who can communicate in Thai and English to help you.

Communicate with the local expats / T.Visa for further assistance and advice, but do not take it at face value / without checking it out.

Theres one option by the way, an apartment which can be low rental and may suit your needs.

Regarding the hidden extras the biggest threat could be medical and it is essential you get a good health insurance to cover this area. ( good doesn,t have to mean to expensive by the way )

Also if you are going to drive any mode of transport, again make sure you get adequate ins. cover and don,t take chances as this could also be really costly should anything happen.

I think you will do O.K. from your O.P. info and will not have to many problems once you adjust and settle in as you are sensible and realistic enough to think before you leap and planning for tomorrow shows good judgement..

Welcome to Thailand and good luck in the future, which ever part you finish up in.

marshbags

P.S.

If it doesn,t work out you can always go back, having been there and done that, as the saying goes, and keep an open mind to all the possible outcomes

Edited January 24, 2007 by marshbags

[PhilHarries]

800k Baht at current exchange rate is about 12k GBP. That leaves 28-38k GBP from your lump sum. I would leave that in UK to deal with expenses arising from your property plus you'll need to return occasionally to check up on the property and maybe catch up with friends and family. Also you really must arrange health insurance, you may be in fine fettle now but nobody can predict the future. I don't recall you indicating your age as this will be a major concern but you don't mention state, or private, pensions so I assume you are below the retirement age of 65.

You'll need to bring a reasonable sum with you to cover set up costs. You'll need to cover hotel and I would budget for two weeks. I don't know the rented property scene in HH wrt furnished/unfurnished but you should budget for at least a minimal amount of furniture plus cooking/eating utensils.

If you can rent a place for under 10k per month that will leave around 30k of which you should aim to put aside at least 5k for unexpected expenses. From the 25k remaining has to come utilities, cable TV, internet connection, phone but these costs will depend largely on your lifestyle.

Say you end up with 23k per month (a figure grasped from the air) that works out at over 750 Baht per day. This is a perfectly feasible sum for two people to live on provided you don't go mad. But you won't be living a western level lifestyle and boredom can quickly set in. There was another thread about budgetting, on there I advised make a plan and stick to it. I would suggest being stingy for five days of the week and allow yourselves two nights out, believe me you'll need them.

You make no mention of travle within Thailand. Do you intend to spend you entire retirement in HH? It would be a pity to do that when the country has so much more to offer. This will knock a hole in your finances, unless you dip into the lump sum.

As I said, it's doable but for how long? A week is a long time in politics and it's a bluddy eternity on limited finances.

Good luck and enjoy Thailand.

[Tolley]

You could survive on that sort of money but what sort of life are you going to be living?

You will have to try and supplement your income with some sort of work on the side otherwise you will be living a pretty miserable existance.

What is the point in coming to Thailand and living on the breadline.

Sure a lot of Thais live on less but they are used to living like that.

And there are plenty of Thais that have a lot more than that as well.

[PeaceBlondie]

As November Rain posted, you might rent in Hua Hin for well under 20K rent per month, away from the beach, etc. Hua Hin's cost of living, however, may be double the cost in some parts of rural Thailand, so it depends on your lifestyle. Don't base your retirement plan upon teaching English in Hua Hin; there aren't many jobs compared to the number of teachers.

I once thought I could live in Chiang Mai for 25K per month, paying rent of 6,500. Nope. Now I spend closer to 50K. I'd be afraid that 40K per month doesn't leave you a cushion for medical costs, modest travel, and other things you might be taking for granted back home.

[LoveDaBlues]

We are planning to move sometime in March. Retirement requires me to have 800k baht in bank no prob as I can muster maybe between 40-50k GBP. However we (2 persons) plan to live off the rental of our home here in the UK. Rental income about 600 GBP after all deductions. We plan to rent in Hua Hin. Rental Budget up to 20k baht per month (approx. £300) therefore balance of £300 per month to live on. Question: After utility bills, reporting every three months to immigration and the associated cost, is this enough to live on? Obviously we are not looking at a holiday life style.

Yes, and No. It is possible to live as a couple on 300 GBP per month, but beware of the unexpected expenses, that will swallow up a month or two of the allowance.

I have been in Thailand over five years. As a couple my expenses aim was 40,000 baht per month. However the average over my time here is 53,000 baht per month.

Also; consider health and home contents insurance and travel costs and household bills, which seem to get higher every month.

Good luck in your quest.

What are the particulars on your home contents insurance? I've never found any decent coverage in Thailand. We always pay someone to watch the house when we're gone.

I agree that 20K baht for rental is way over the top.

[mexxx]

you will be fine, give it a crack.

if theres a will, theres a way!

[ProThaiExpat]

Some specifics might be helpful.

I bought chicken thighs last week at Carrefour for 45 Baht a kilo. Pork loin was 65 baht a kilo. You do the conversion into your familiar currency and you can then compare with your current costs.

It seems to me if you budget conscious you would eat chicken and pork in Thailand rather than beef, which is far more expensive and not very deliciious. Making these choices as one goes through the budget makes your projected budget doable and enjoyable if your self intertaining.

Clearly your rent will be your biggest expense and the budget consious would opt for a nice home within walking distance of the beach rather than a condo on the beach.

Cooking at home is the key as your food costs for self prepared food is a third or less than the same thing in a restaurant.

As far as entertainment, we are all different. Many find retirment boring and go back to work as they can't entertain themselves. Many retirees are very busy and do not have a great deal of spare time, all without spending money.

If you don't drink or smoke, your expenses will be considerably lower than for those who do.

If you don't cook, a thai cooking class should be a must do in your first few months. Not only are the ingredients less expensive but you might enjoy learning to cook this way.

As with most things, its up to you to make it work and be happy doing it.