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Posted

OK, first off, I'm new here so hi!  I know there are quite a few older threads about this already but the circumstances are a bit different, so would appreciate some advice.  I was thinking I would like to leave ole Blighty behind and move to Thailand for a while now.  I have met a lady who lives in HH and would like to move there and build a house with her about 18km outside HH.  I'm 54 years old and if I build said house i would have about £100k left.  She has 2 children, one leaving home soon.  I know it depends how i invest/spend the money, but she is hard working and pretty frugal I think, so would you say this is realistic or am i a long way off here?

 

Thanks

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Posted

Go for it, you will either find happiness, or lose 100K.

I think true happiness is worth more than 100K.

 

 

Just one question how long have you know the lady ?

regards worgeordie

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Posted

So, how much money do you actually have?

Are you already in receipt of a company pension?

How long do you think 4.3Mthb will last you?

Does the lady have any income?

Any school or uni fees coming up?

 

You need to think carefully

Posted
1 minute ago, nopsled said:

I'll have about £160k.  Everything I have.  No pension.  I can feel the heat from here!  Let the flames commence ;-)

No Flames - Reality

I would of owned everything but had a few hick ups

I would estimate your house maybe 3 Mill all up then car 1 Mill 

Cost of living pending = 100, 000 bht + p/mth

 

This doesnt cover your health 

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Posted
3 minutes ago, BEVUP said:

No Flames - Reality

I would of owned everything but had a few hick ups

I would estimate your house maybe 3 Mill all up then car 1 Mill 

Cost of living pending = 100, 000 bht + p/mth

 

This doesnt cover your health 

Thank you.

Posted

I will inherit at some point, as things stand @£200k but that could be a while yet.  Parent age 76 in good health.  Hopefully will stay that way for many years.  I think I'm getting the picture.

Posted

160k

Less 10k in the bank for visa requirements assuming marriage visa (20k if retirement visa)

= 150k

Min 600 per month assuming no rent 12 years say 90k

=60k 

55k should buy and equip a modest home 

=5k

Transport a motorsi perhaps 

Few luxuries

A no frills lifestyle 

Eventual UK pension possibly about the same living standard (If enough qualifying years)

 

Possible :smile: Do you enjoy living life on the edge :smile:

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Posted
45 minutes ago, 473geo said:

160k

Less 10k in the bank for visa requirements assuming marriage visa (20k if retirement visa)

= 150k

Min 600 per month assuming no rent 12 years say 90k

=60k 

55k should buy and equip a modest home 

=5k

Transport a motorsi perhaps 

Few luxuries

A no frills lifestyle 

Eventual UK pension possibly about the same living standard (If enough qualifying years)

 

Possible :smile: Do you enjoy living life on the edge :smile:

Well, I've climbed some mountains, and I used to fly aerobatics (hence the lack of money ;-), so yes, I guess I do.

 

Seriously, thanks for the replies.  Food for thought.

Posted

As said, house equals 3 million and car equals 1 million (you''ll be lucky to get away so cheaply), at current exchange rates that's 90K Pounds, even if you lived frugally and got away with 60k a month for living expenses, bank interest rates are 1.70% at very best - you'll be broke in just over 4 years. Do yourself a favour and don't do it.

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Posted

OK, second option. Don't sell my flat, rent it out and have an income of about £650 per month after agent/repair fees.?  Clutching at straws?

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Posted

I hate to break it to you but you simply don’t have enough ... you have roughly 7 m baht ... whatever you budget for a house ... double it ... then you will need a car ... I’d say you will wipe out your 7 m building the house and buying a car ... and living on roughly 30k baht a month with a wife and 2 kids is stretching it ... it’s just not there.


Sent from my iPhone using Thaivisa Connect

Posted
2 minutes ago, 473geo said:

Sounds like it would be a good way to come and experience for yourself, look at the housing options, see how your spending goes. At least if things were too tight you would soon know it for fact. Plus initially in the short term you would perhaps not require anything more than basic accommodation. Is moving in with the lady an option in the short term? Although I'm sure you have thought on that one.

For instance If you bought a ready built house, no need to take into account the "double the budget" advice on a build. That in itself is a major saving right there :smile:

 

 

Thanks geo.  Yes, I would live with her first anyway.  She suggested this.  She has a small business and supports this family on her own.  I think with our resources pooled it would be OK?  She rents though, and I think she sees it as wasted money if at some point we could buy somewhere.  So do I come to that.

Posted
27 minutes ago, 473geo said:

Sounds good to me, get your flat rent flowing and give it go for a while, enjoy. You will then have the pleasure of conversations about the future with your lady. All part of the enjoyable experience of Thailand.

 

Thanks geo.  Sound like a good starting point.

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Posted
1 hour ago, tonray said:

Invest your savings in dividend paying equities that will grow over time.

 

7,000,000 baht invested paying 3.25% in dividends after taxes will give you about 17,000 baht monthly. If you keep your property spinning off rentals add another 25,000 baht per month. You can live (not extravagantly) but can make it on 42K baht monthly with her supplementing from her business. If the portfolio of stocks does well over time...then a house can be considered. All Thai girls will say that renting is throwing away money...when it is your money they are talking about. If her business is successful have her apply for a mortgage loan and you can make the payments on that if she feels that way. Keep your capital working for you to have options later in life.

Thanks for that tonray.  I can't do both but at least I have some new numbers to consider.  I think a joint effort may be doable.

Posted

How much is enough, you can always use more!  Avoiding risk in it's pursuance is the key!

You don't tell us if you have income or any pensions to go with the £100k. Your sate pension is still about 13 years away.

There isn't much opportunity to make much money with investing these days.

 

If the £100k is all you have, you are well off the mark. In fact the OP appears like a wind up, if not you may be returning home tail between your legs in the future.

Posted

Suggest a vasectomy also. Seems like you are to be her tent and she is looking to drive in every peg. A child with her is such a bargaining chip in case you ever wish to get out. Sorry if we seem pessimistic, but recall saying "Hope for the best, prepare for the worst, do the possible".

 Would you jump in whole hog to a similar arrangement back home? Listen to your gut, and keep your eyes open.

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Posted
8 hours ago, nopsled said:

Thanks geo.  Yes, I would live with her first anyway.  She suggested this.  She has a small business and supports this family on her own.  I think with our resources pooled it would be OK?  She rents though, and I think she sees it as wasted money if at some point we could buy somewhere.  So do I come to that.

You do know that the law says ''Farang can never own Thai land" right?

So if you build a house with your money , its sitting on land that ( you bought ) in HER name.

Forget all types of tricky bits of paper - if a Thai wants you off THEIR land they will achieve that goal.

And Ive never seen a better incentive  for any  woman wanting rid of a man than the carrot  of automatically  "Winning" a house for her decision. To a Thai this cant possibly have been a bad decision.

Do NOT buy/build a house in someone elses name !

You will need a car living way out there  ( my obs of the bush near HH is 'hot and dry' ) and you will have relocation costs. Put the car in YOUR name - you can. Watch  out carefully to see  if she tries to guide or misinform you on this ( or the house ). 

Then on top of all that - two kids ...

Sheez , the country is full of attractive women without them ...

 

 Anyway ...

I sincerely advise other Aus men that $800 k  aud ( 400k pounds ) at age 60 is a minimum to have behind them and retire here  pre-65.

Up to you ,  the 'live off your UK rent' idea will be very  tight ... but possible.

At least you'll know if she really likes you , or was just hoping for money ...lol.

 

But good luck !

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