Estimate cost of new 100sq m house in CM?

[chingmai331]

This for low earning Thai folks. Flat roof, 100 sq meters under cover, conventional in most respects, Thai workers and bosses. 

Land owned now, will drill well, within 1 km of Ping River. Has low amp electric wires nearby.  Has connected septic system and drain field in place. 

Could 800K baht build a house? 

 

[geoffbezoz]

Simple answer is yes

[Jaxxper]

Should get change out of Thb 800 k for spec you described.

[soidog99]

Please send me  any renderings you have of the design you want and the specifications and I will get you a quote. 

[TPI]

800K should be enough but... in Thailand it's never enough, there's always something the wife didn't think about!

[jvs]

800 k is plenty!!!Buy all the materials yourself and at the same place,usually this will get you a nice discount.

Only pay for labour and check the work after they leave everyday.

 

[poka513]

My 2 older stepkids do house building/remodel in Chiang Mai area. If interested, message me.

[ericthai]

you should be able to do it for half that. 

[chingmai331]

Thanks all for the input.  When the time comes i'll contact those expressing interest in building.

This will be a mortgage loan but i'm only the 'hidden' investor.  A Thai man i trust will hold the land deed till mortgage paid off. All this only to save the cost of renting over the years for a Thai single mom with kid and mother.

No swimming pool, sauna or hot tubs in this plan. 

There ain't no romance happening, yet.

[alacrity]

If you're planning to drill down to a reliable aquifer a good chunk of your budget (10% or more) could easily be spent.

Will the current owner of the land still own it when you have paid off the mortgage for the structure?

Are you expecting a 100% mortgage for something that currently doesn't exist?

 

Perhaps you should sit back and consider a little lateral thought.

[chingmai331]

I'm not sure you know what is going here, alacrity.  Or i have not explained very well.

She owns the land now.  She will transfer the land title to my Thai friend. I will put up enough $$ to build a house, etc.  She will occupy the house and pay monthly installments, for years no doubt, until the entire  sum, plus some interest, is fully paid. 

Then the Thai friend will sign back the title to her.  She is an ethnic minority girl, cannot get a bank loan.

Perhaps all this could be different, but this is the current plan.

If i were planning to move into this piece of land, all would be very different.  

 

[ThomasThBKK]

18 minutes ago, chingmai331 said:

I'm not sure you know what is going here, alacrity.  Or i have not explained very well.

She owns the land now.  She will transfer the land title to my Thai friend. I will put up enough $$ to build a house, etc.  She will occupy the house and pay monthly installments, for years no doubt, until the entire  sum, plus some interest, is fully paid. 

Then the Thai friend will sign back the title to her.  She is an ethnic minority girl, cannot get a bank loan.

Perhaps all this could be different, but this is the current plan.

If i were planning to move into this piece of land, all would be very different.  

 

Why?

 

She can just give it you instead via a userfruct or a lease, you have the right to use the land then you can also own the building (superficies) until you cancel those contract in the land office with her. No need for a third party.

 

Then you also don't need to pay the land transfer etc fees twice.

Edited August 18, 2019 by ThomasThBKK

[chingmai331]

I won't be using that land. Nor living in any house built on it.  Userfructs are unknown to me but i can look into your suggestion.

My only hope/plan is to 1. free up the woman from rent onto a small property she now owns; and 2. to insure that my 'loan' will be paid back over time. 

If i simply gave her the cash obviously i have no more input into any situation regarding paybacks.

And as a farang, my status in the Thai courts is very low so if i must attempt to 'foreclose', likely i could not do so.

Yeah, i'll surely look into the userfruct thing. Thanks for the idea. 

 

[blackcab]

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