Buy Condo or Buy land ?

[HulkSmash]

I am thinking to buy a condo. But somehow I am not feeling satisfied and feeling like I am compromising. Meanwhile I am thinking to buy a land around BANGKOK (close to Bts) and Make my own dream house , or should I buy villa?

 

Which one is the best option and cheaper

I am mix Thai.

 

Looking forward to hear from you guys.

 

Thank you

 

 

Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[simoh1490]

Buy land, buy as much as you can, which is about zero......!

[Crossy]

6 minutes ago, simoh1490 said:

Buy land, buy as much as you can, which is about zero......!

Our OP is Thai.

 

[simoh1490]

6 minutes ago, Crossy said:

Our OP is Thai.

 

Ah.......that alters things somewhat!

[welovethailand]

RENT

[simoh1490]

Buy land, buy as much as you can and either hold it, build on it or both.

[welovethailand]

I guess you have no info on how the world housing, land market is teetering? Thailand is in a bad situation right now, Banks are not loaning, car markets are in a glut....housing builds also in a glut.

Rent and wait it out for a possible much lowered price.

[poanoi]

trust your instinct, and good luck,

i honestly think if you are going to live there and not just speculating,

then you will get your moneys worth no matter when you buy.

[simoh1490]

35 minutes ago, welovethailand said:

I guess you have no info on how the world housing, land market is teetering? Thailand is in a bad situation right now, Banks are not loaning, car markets are in a glut....housing builds also in a glut.

Rent and wait it out for a possible much lowered price.

I heard the same story in 2004, the market is going to crash and I did indeed sell (in one country) but bought in a second at a lower price. The value of the house I sold in 2004 is now almost double what I sold it for, fortunately, fate treated me well so all was not lost. Teetering? The market will always be teetering for those with no money or balls.

[Langsuan Man]

 As Mark Twain said, "Buy land, they're not making it anymore".

[FritsSikkink]

Buy land

[Just Weird]

21 hours ago, HulkSmash said:

I am thinking to buy a condo. But somehow I am not feeling satisfied and feeling like I am compromising. Meanwhile I am thinking to buy a land around BANGKOK (close to Bts) and Make my own dream house , or should I buy villa?

 

Which one is the best option and cheaper

I am mix Thai.

 

Looking forward to hear from you guys.

 

Thank you

Nice troll, can't decide between a condo, very expensive land in Bangkok near the BTS, building your dream house on that pricey land or a villa.  

 

And you're asking which is cheaper?  Doesn't that depend on how much the condo, land, dream house or villa will cost you?  How would anyone here now which would be cheaper? 

[1FinickyOne]

On 5/19/2018 at 6:19 PM, simoh1490 said:

I heard the same story in 2004, the market is going to crash and I did indeed sell (in one country) but bought in a second at a lower price. The value of the house I sold in 2004 is now almost double what I sold it for, fortunately, fate treated me well so all was not lost. Teetering? The market will always be teetering for those with no money or balls.

And how often do you hear people saying, I could have bought 20 years ago for $xx and now it is $xxxxx - - and as you say, most could not have afforded it back then anyway... The, 'I could have bought Apple for' people.  

[uffe123]

Dont buy anything in Thailand you cant own it. The government owns all of it. When the military took over they confiscated 80% of the farmers land. My cousin in Buri ram had 25 rai confiscated. They told him it was no longer his, and they would permit him to farm it, even though he had farmed it for over 15 years and had the deed to the property. Many others in the village met the same fate.

Dont believe anything they tell you it all BS 

Edited May 21, 2018 by uffe123
spelling

[simoh1490]

1 minute ago, uffe123 said:

Dont buy anything in Thailand you cant own it. The government owns all of it. The the military took over they confiscated 80% of the farmers land. My cousin in Buri ram had 25 rai confiscated. They told him it was no longer his, and they would permit him to farm it. Many others in the village met the same fate. 

Rubbish! The military did NOT confiscate 80% of famers land when they took over, not even 0.008%!!!

[ChiangMaiLightning2143]

I bought a condo. Full understanding the law may later allow confiscation, and kick me out on my duff. I can afford to lose it. Money mostly safe abroad.

Don’t invest anything you can’t afford to lose!

[mlmcleod]

Based on my observation since I retired here in Thailand buying property or condos is a fool's proposition.  Everything is being overbuilt.  You can see the construction everywhere.  Alas, there are fewer and fewer EU, Russians and Americans coming to Thailand.  I do not think the Chinese will buy much here.

 

Promises by the condo developers are just that.  If you have excess income feel free to buy here.  If not, RENT!  The prices of rental condos have been going down steadily in the Pattaya area.  Rayong is very cheap as well.  You can rent a very nice 2 bedroom detached house or one bedroom condo for 10,000 baht per month.  

Edited May 21, 2018 by metisdead
Bold font removed again. Please stop using bold font when posting.

[janclaes47]

Buy a shophouse instead, much better investment.

 

PM me if you want a tip on any of the +20.000 available new builds between Bangkok and Pattaya alone.

[simoh1490]

10 hours ago, mlmcleod said:

Based on my observation since I retired here in Thailand buying property or condos is a fool's proposition.  Everything is being overbuilt.  You can see the construction everywhere.  Alas, there are fewer and fewer EU, Russians and Americans coming to Thailand.  I do not think the Chinese will buy much here.

 

Promises by the condo developers are just that.  If you have excess income feel free to buy here.  If not, RENT!  The prices of rental condos have been going down steadily in the Pattaya area.  Rayong is very cheap as well.  You can rent a very nice 2 bedroom detached house or one bedroom condo for 10,000 baht per month.  

That's not my experience at all. I bought my first condo. in 2006 for 6.5 mill. and sold it a couple years later for another half a million plus I lived for free for those few years. I made most of my money from that purchase out of the exchange rate which moved against the Pound from 80+ to around 60. Later I bought another unit and whilst I didn't make more than about fifty thousand on it I lived free for a couple more years. Now I'm in a house that I bought five years ago so I've avoided rent for over 60 months, eventually, I expect to at least break even on the sale of it but more likely I'll make a profit since it includes a lot of land. In total I guess I've saved over 2.5 mill in rent in that time plus I've made about 600k in profit and about 2 mill on the exchange rate. The thing with the exchange rate is that if I hadn't transferred the funds here to buy the condo the money would have sat in fixed income at a low rate of return.

[Peterw42]

2 hours ago, uffe123 said:

Dont buy anything in Thailand you cant own it. The government owns all of it. When the military took over they confiscated 80% of the farmers land. My cousin in Buri ram had 25 rai confiscated. They told him it was no longer his, and they would permit him to farm it, even though he had farmed it for over 15 years and had the deed to the property. Many others in the village met the same fate.

Dont believe anything they tell you it all BS 

I think you will find that your cousin never owned the land, like most farming land its not owned, he would have a deed that allows him to occupy and farm the land. Over the years people have abused these titles, renting the land out, building on the land, transferring title , and in some cases getting illegal ownership. The military stepped in and put a stop to people illegally developing, transferring and claiming to own land that was never owned, only ever a farming deed.

Maybe familiarise yourself with the many Thai land titles and how they were being abused, before making ridiculous 80% confiscated claims.

Edited May 21, 2018 by Peterw42

[csabo]

On 5/19/2018 at 5:24 PM, simoh1490 said:

Ah.......that alters things somewhat!

IDK, asking foreigners a question they can't answer seems futile. 

[baansgr]

4 hours ago, uffe123 said:

Dont buy anything in Thailand you cant own it. The government owns all of it. When the military took over they confiscated 80% of the farmers land. My cousin in Buri ram had 25 rai confiscated. They told him it was no longer his, and they would permit him to farm it, even though he had farmed it for over 15 years and had the deed to the property. Many others in the village met the same fate.

Dont believe anything they tell you it all BS 

Sounds like he had only a por  bor 5 title which is something for agriculture use, however many people build on it without the proper planning permission 

[jakethepeg]

The property market has been crashing for 20 years if you believe the busted arsed  pensioners here forced to live in a crappy fan room shoe box because of the "cheap rent"

 

oh and dont forget no body sells for a profit. Every sale is a 50% loss ?

 

Buy your home and be the master of your domain. Furnish it beautifully! or do what the poor people do and rent living on Thai cardboard furniture, vinyl sofa, concrete mattress and 10 year old TV and getting ripped off for the security deposit ...How did the renters screw up so bad in life to end up in that scenario  ?

Edited May 21, 2018 by jakethepeg

[Lacessit]

1 hour ago, jakethepeg said:

 

Buy your home and be the master of your domain. Furnish it beautifully! or do what the poor people do and rent living on Thai cardboard furniture, vinyl sofa, concrete mattress and 10 year old TV and getting ripped off for the security deposit ...How did the renters screw up so bad in life to end up in that scenario  ?

Gee, I don't know. If I was renting in Australia 50% of my income would be going in rent. Here, it's less than 10% in a well-situated condo with swimming pool. I don't pay any security deposit. I've been paying my landlord 3 months in advance for the last 5 years. He fixes anything that breaks down. I live very comfortably. If you call that screwing up, guilty your honor.

[Brickbat]

Rent. And invest your money. More freedom and better investments out there. And I think a big housing dump aboutvto hit worldwide as 8nterest rates and gas prices increase. 

[jakethepeg]

13 minutes ago, Brickbat said:

Rent. And invest your money. More freedom and better investments out there. And I think a big housing dump aboutvto hit worldwide as 8nterest rates and gas prices increase. 

You forgot about 2008? Global meltdown saw thousands of expats lose everything and for many a double whammy of a 50% drop in their OS house value and rental income gone plus raped by the stock market.

Sure the markets are liquid but that works both ways !!!

[simoh1490]

1 minute ago, jakethepeg said:

You forgot about 2008? Global meltdown saw thousands of expats lose everything and for many a double whammy of a 50% drop in their OS house value and rental income gone plus raped by the stock market.

Sure the markets are liquid but that works both ways !!!

Yawn, another doom and gloom merchant!

 

Which expats lost everything, where, how?

 

A 50% drop in housing value, where, how?

 

Links and proof, not rhetoric!

[metisdead]

Inflammatory bickering posts and the replies have been removed. 

[jakethepeg]

2 hours ago, simoh1490 said:

Yawn, another doom and gloom merchant!

 

Which expats lost everything, where, how?

 

A 50% drop in housing value, where, how?

 

Links and proof, not rhetoric!

How embarrassing . You really had no idea and here you are giving advice on TV lol

https://www.theguardian.com/business/2010/mar/02/detroit-homes-mortgage-foreclosures-80

 

Oops there goes your credibility and it was only a 3 sec google search. tens of thousands of expats gave the same advice ..never buy in Thailand and in the meantime completely forgot about there own backyards. I had to laugh as it was a good cull !

[Bang Bang]

In Bkk, the math says it's better to rent. E.g., I rent a 65sqm. 2-bedroom on the 14 fl. about 5mins. from Victory Monument, 5mins. from the BTS, 10mins. from Century and Center One malls, for 20k/mth. Units in my building are not for sale but similar ones in the vicinity are going for 8m+.

 

So, my annual rent of 240k is 3% of 8m, the cost to own. Put another way I've effectively got a loan of 8m for 3%/annum. So, now I can invest this 8m. anyway I like. Now, unless you're looking to get rich in gold mines in Nigeria there's hardly any investment which, in the long run, won't safely pay more than 3%/annum.

 

The US S&P500 has been yielding > 6%(inflation adjusted) per year on the average past 80 years. Sure you're going to run into the 2000s and 2008s but it's all a matter of having a buffer to tide over the recessions. The average will kick in sooner or later (precisely, the average time to recover from a recession has been 40 months).

 

So, to my mind if you've got decent assets in the West, then keep it invested there and use (part of) the proceeds to rent here. That's what I've been doing at any rate.

 

Other advantages (a) No problems with the vagaries of the laws here (b) Can move around at will, not having a home to sell first (c) If teerak comes into your life you can be sure it's truly because of your good looks and warm personality and not to plant a flag in what she imagines will soon be hers.

Edited May 21, 2018 by Bang Bang