Is this a good time to buy a Condo?

[Hmunker]

On 2/28/2020 at 9:17 AM, how241 said:

There are NO dogs at Nirun. No junk laying around as every building has a dedicated cleaning lady who cleans the building everyday.  It is a older building but it is kept clean. 

Is that cleaning the corridors outside rooms.Sweeping etc?

[Hmunker]

On 3/12/2020 at 10:23 AM, Lacessit said:

Given what's happened on world sharemarkets in the last week, I'd say this thread is now obsolete. Sit on as much cash and gold as you can.

Sit on a proper chair.Its much more comfortable.

[how241]

1 hour ago, Hmunker said:

Is that cleaning the corridors outside rooms.Sweeping etc?

Actually,  there is a young cleaning girl, in the C1 building,  that is nice. 

[jacko45k]

10 hours ago, Airalee said:

Buy now or be priced out...forever.*

 

 

*every realtor circa 2005

 

People don't live forever. 

[Airalee]

1 hour ago, jacko45k said:

People don't live forever. 

Nobody ever accused realtors of being intelligent.

[newnative]

2 hours ago, jacko45k said:

People don't live forever. 

    That's right.  We don't.  That's the whole point of using the word 'forever'.  You're dead.  You're done.  You missed your chance.  It's all over but the crying.  Sayonara.  Toot, toot, Tootsie good bye.  Adios, amigo.  When I am dead and done, I'll be happy as I draw last breath that I didn't spend my precious years living in someone else's rental space, spending my precious years with their likely cheap rental furniture, spending my precious years looking at their likely lousy art work--if any--and spending my precious years with their likely inferior appliances and electronics.  Not for me.

     This endless back and forth over whether buying a condo in Thailand is a good or bad investment leaves me mostly just entertained as it's never a question for me as to whether it's good or bad.  For me, it's always a good investment--whether I make or lose money--because I am always investing in me, not a condo.  I am investing in my life and how I live it, in my well-being, in my happiness, in my contentment, and in my personal satisfaction, among other things.  I always consider it as money well-spent, regardless as to whether there is a profit down the road--nice there has always been a profit with each condo, here and in the US, but I would buy anyway and not have a single regret.

    Usual disclaimer:   That's just me, results may vary.  If renting makes you happy, like buying makes me happy, go for it.  To each, his own.  Whatever floats your boat, etc. etc.  

[Hmunker]

1 hour ago, newnative said:

  I didn't spend my precious years living in someone else's rental space, spending my precious years with their likely cheap rental furniture, spending my precious years looking at their likely lousy art work--if any--and spending my precious years with their likely inferior appliances and electronics.  Not for me.

    

You need to appreciate other people’s tastes in decor.Give it time their jazzy wallpaper could grow on you.If not I don’t think renting is for you.

[bkk6060]

2 hours ago, newnative said:

    That's right.  We don't.  That's the whole point of using the word 'forever'.  You're dead.  You're done.  You missed your chance.  It's all over but the crying.  Sayonara.  Toot, toot, Tootsie good bye.  Adios, amigo.  When I am dead and done, I'll be happy as I draw last breath that I didn't spend my precious years living in someone else's rental space, spending my precious years with their likely cheap rental furniture, spending my precious years looking at their likely lousy art work--if any--and spending my precious years with their likely inferior appliances and electronics.  Not for me.

     This endless back and forth over whether buying a condo in Thailand is a good or bad investment leaves me mostly just entertained as it's never a question for me as to whether it's good or bad.  For me, it's always a good investment--whether I make or lose money--because I am always investing in me, not a condo.  I am investing in my life and how I live it, in my well-being, in my happiness, in my contentment, and in my personal satisfaction, among other things.  I always consider it as money well-spent, regardless as to whether there is a profit down the road--nice there has always been a profit with each condo, here and in the US, but I would buy anyway and not have a single regret.

    Usual disclaimer:   That's just me, results may vary.  If renting makes you happy, like buying makes me happy, go for it.  To each, his own.  Whatever floats your boat, etc. etc.  

I respect your comments.

Sounds like owning is the best for you.

 

Some of us I guess are spoiled as far as the home investment history.

Fortunately I bought and sold several house during the California RE booms.

Unlike here, lots of transparency and information available to sellers and buyers.

As opposed to a military run foreign country with little true RE information or transparency.

Buy in Calif. for $300,000, sell it for 8 or $900,000.  That to me is an investment and will never be the case here.

 

My experience actually that many who buy here, have never owned anything prior in their life.

They come here older with $50,000 and wow, thinking to themselves I can finally buy something.

 

Unfortunately not all, but I would say the majority of the guys I know who own constantly complain.

Short time renters invasion, loud music or bars suddenly pop up nearby, neighbors causing issues,

weak juristic offices not enforcing rules, on and on.  They are stuck in an unhappy existence unable to sell with no flexibility to change things.

 

But I get it, some need the security feeling they own something.  Others, have been there and done that

not an important part of their current life.

 

 

 

 

 

Edited March 22, 2020 by bkk6060

[newnative]

1 hour ago, Hmunker said:

You need to appreciate other people’s tastes in decor.Give it time their jazzy wallpaper could grow on you.If not I don’t think renting is for you.

The nice thing about owning is you get to have your taste, not other people's.   Yes, renting is not for me. 

[newnative]

16 minutes ago, bkk6060 said:

I respect your comments.

Sounds like owning is the best for you.

 

Some of us I guess are spoiled as far as the home investment history.

Fortunately I bought and sold several house during the California RE booms.

Unlike here, lots of transparency and information available to sellers and buyers.

As opposed to a military run foreign country with little true RE information or transparency.

Buy in Calif. for $300,000, sell it for 8 or $900,000.  That to me is an investment and will never be the case here.

 

My experience actually that many who buy here, have never owned anything prior in their life.

They come here older with $50,000 and wow, thinking to themselves I can finally buy something.

 

Unfortunately not all, but I would say the majority of the guys I know who own constantly complain.

Short time renters invasion, loud music or bars suddenly pop up nearby, neighbors causing issues,

weak juristic offices not enforcing rules, on and on.  They are stuck in an unhappy existence unable to sell with no flexibility to change things.

 

But I get it, some need the security feeling they own something.  Others, have been there and done that

not an important part of their current life.

 

 

 

 

 

As per my disclaimer, whatever floats your boat. 

[xylophone]

2 hours ago, newnative said:

    That's right.  We don't.  That's the whole point of using the word 'forever'.  You're dead.  You're done.  You missed your chance.  It's all over but the crying.  Sayonara.  Toot, toot, Tootsie good bye.  Adios, amigo.  When I am dead and done, I'll be happy as I draw last breath that I didn't spend my precious years living in someone else's rental space, spending my precious years with their likely cheap rental furniture, spending my precious years looking at their likely lousy art work--if any--and spending my precious years with their likely inferior appliances and electronics.  Not for me.

     This endless back and forth over whether buying a condo in Thailand is a good or bad investment leaves me mostly just entertained as it's never a question for me as to whether it's good or bad.  For me, it's always a good investment--whether I make or lose money--because I am always investing in me, not a condo.  I am investing in my life and how I live it, in my well-being, in my happiness, in my contentment, and in my personal satisfaction, among other things.  I always consider it as money well-spent, regardless as to whether there is a profit down the road--nice there has always been a profit with each condo, here and in the US, but I would buy anyway and not have a single regret.

    Usual disclaimer:   That's just me, results may vary.  If renting makes you happy, like buying makes me happy, go for it.  To each, his own.  Whatever floats your boat, etc. etc.  

You make some very good points and as you say, in a nutshell, different strokes for different folks.

 

I never thought I would live in a rental property here, so when I arrived some 13 years ago I bought a house, which I took great pleasure in "doing up" not that it needed a lot, but just a few things to suit my tastes.

 

I sold it after about five years when the g/f and I parted company, so I moved into a rental apartment to buy some time before I looked around again, however I got to like the apartment so much that I've been ever since, and have installed some of my own furniture and bits and pieces and it does feel like mine, even though I know it isn't.

 

Unfortunately the guy who bought my old house has had some bad luck with noisy neighbours (biker type gangs) so it was lucky I got rid of it when I did.

 

Never thought I would stay in this rented apartment this long, however because I can put my own things in it and the owner doesn't mind me doing the occasional installation, and the fact that he and his wife are always looking out for my welfare (very important for someone 73 this year) and do the odd favour for me, as I do them, so it's a win-win situation for me and it will probably stay this way till the time I depart this mortal coil.

 

Rental is so cheap that I can stay in it another 31 years, whence it would become the equivalent of buying a house, and I don't think I have got that long! And anyway I like the idea that I could just get up and go at any time which suits me, so as you say, your situation suits you and mine suits me and I'm sure that's the case for many other posters here. 

[newnative]

2 hours ago, xylophone said:

You make some very good points and as you say, in a nutshell, different strokes for different folks.

 

I never thought I would live in a rental property here, so when I arrived some 13 years ago I bought a house, which I took great pleasure in "doing up" not that it needed a lot, but just a few things to suit my tastes.

 

I sold it after about five years when the g/f and I parted company, so I moved into a rental apartment to buy some time before I looked around again, however I got to like the apartment so much that I've been ever since, and have installed some of my own furniture and bits and pieces and it does feel like mine, even though I know it isn't.

 

Unfortunately the guy who bought my old house has had some bad luck with noisy neighbours (biker type gangs) so it was lucky I got rid of it when I did.

 

Never thought I would stay in this rented apartment this long, however because I can put my own things in it and the owner doesn't mind me doing the occasional installation, and the fact that he and his wife are always looking out for my welfare (very important for someone 73 this year) and do the odd favour for me, as I do them, so it's a win-win situation for me and it will probably stay this way till the time I depart this mortal coil.

 

Rental is so cheap that I can stay in it another 31 years, whence it would become the equivalent of buying a house, and I don't think I have got that long! And anyway I like the idea that I could just get up and go at any time which suits me, so as you say, your situation suits you and mine suits me and I'm sure that's the case for many other posters here. 

       Life is strange.  During my working years in America I was a poorly paid state employee--good pension and good health care while I worked but, still, poorly paid.  I could never afford more than a 1 or 2 bedroom condo.  Even the smallest townhouse was beyond my means and a single family home?  Just something to envy those who could afford one.   If I could have afforded a home, I certainly would have bought one.

       Fast forward to here and now, where everything is topsy turvy.  For what I paid for my current Pattaya condo--about 6.5MB--I could have bought a nice, single family home with 2 or 3 bedrooms, 2 or more baths, and maybe even a pool.  I would have loved a house in America but here I'd rather have a smaller place with a killer view, in a great location, and with good amenities.  

      Down the road, if I reach the stage where I am old and tottery, my partner and I will probably switch and buy a house that is big enough for live-in help to take care of us.  I mentioned this to one of my sisters and she laughed and said I would be doing things in reverse--usually when people get older they downsize from a house into a condo or senior living facility.  For now, though, I'll enjoy my condo and my seaview. 

[LongTimeLurker]

Without having to read the other 33 pages of this thread my response to the OP is that the Baht 1 million and under condos he's talking about he should go and see, they are around 23 m2 to 25 m2, 30 m2 if it's a big one! If that's how you want to live?

 

It's never a good time to buy condos in Pattaya if you want to make money on them, only if you want to live 'rent free', but even then you have annual maintenance fees to pay and you have to be staying for 10+ years to make it worthwhile.

Edited March 22, 2020 by LongTimeLurker

[jacko45k]

16 hours ago, newnative said:

For now, though, I'll enjoy my condo and my seaview. 

A seaview is like a picture on the wall, except one can be changed, the other blocked!

For the amount you paid for that seaview, a house with several windows could have been obtained.

[RoadWarrior371]

40 minutes ago, jacko45k said:

A seaview is like a picture on the wall, except one can be changed, the other blocked!

For the amount you paid for that seaview, a house with several windows could have been obtained.

Me thinks he is talking about true oceanfront property, no chance of blocking there.  Of course, financially out of reach for quite a few in this thread....????

[newnative]

1 hour ago, jacko45k said:

A seaview is like a picture on the wall, except one can be changed, the other blocked!

For the amount you paid for that seaview, a house with several windows could have been obtained.

     'A seaview is like a picture on the wall...'   Indeed, it is.  A beautiful picture that moves and changes; with calm seas and rough, with the sound of the surf, and with boat activity that is not painted frozen in place.  I find a seaview endlessly enjoyable and calming.  However, if you read a later post of mine, you will find that my partner and I may end (end being the operative word) with '... a house with several windows...' down the road if or when we reach the old and tottery stage.

     Of the 18 seaview condos my partner and I have bought in Thailand in the past nearly 10 years, 2 in Rayong and 16 in Pattaya, none has had its seaview blocked.  Due to the condos being either oceanfront or having substantial low-rise buildings already in place next-door, it's unlikely they will lose their seaviews.

      The one exception is the small 1 bedroom rental we owned and sold at The Base.  With The Edge going up, it will likely lose part, but not all, of its seaview.  It is at the very front on the top floor of the north building--the building farthest from The Edge, so should retain a partial seaview.  When buying a condo--or a house--it is important to do your homework and take into consideration what is next-door. 

[jacko45k]

17 minutes ago, newnative said:

The one exception is the small 1 bedroom rental we owned and sold at The Base.  With The Edge going up, it will likely lose part, but not all, of its seaview. 

So you got half a seaview and half a wall?

[Henryford]

What sort of "seaview" would you get from The Base. A thin strip of blue/green far off in the distance. I wouldn't pay extra for that.

[newnative]

49 minutes ago, jacko45k said:

So you got half a seaview and half a wall?

Well, it was a rental, not to live in myself but half a seaview is more enjoyable for me than a countryside view--but that's just me.  Rented it for a year at 25,000 baht a month then sold it. Bought it for 3MB, sold it for 4.25MB, so I'm not complaining.  

[jacko45k]

2 hours ago, newnative said:

Well, it was a rental, not to live in myself but half a seaview is more enjoyable for me than a countryside view--but that's just me.  Rented it for a year at 25,000 baht a month then sold it. Bought it for 3MB, sold it for 4.25MB, so I'm not complaining.  

Nothing wrong with that.

[newnative]

4 hours ago, Henryford said:

What sort of "seaview" would you get from The Base. A thin strip of blue/green far off in the distance. I wouldn't pay extra for that.

     Actually, 2nd Road is only a block from the beach so not really 'far off in the distance'.  When we lived on the 33rd floor at Centric Sea, also on 2nd Road, our sea and coastline views were terrific.  

[treetops]

Sea view can also mean disused oil platforms, rusty old tankers, noisy speedboats/jetskis, foghorns and an offshore wind farm (all available near me).  It's not necessarily idyllic, but I do like it.

[Leaver]

On 3/21/2020 at 10:50 PM, how241 said:

Not everyone is a lifelong renter as some people like to own.  Renting/buying both have good and bad points. For many,  buying their home has been a good investment and given them years of enjoyment and pride in the fact they own something.  To each their own.  Most of my life I have lived in places that I own. 

You use the word "own" a lot in your post, something we all know that a foreigner can not 100% do in Thailand. 

 

There's no need to get into that discussion again, but "owning" in Thailand is not the same as "owning" in western countries. 

[Leaver]

On 3/21/2020 at 10:59 PM, Airalee said:

Buy now or be priced out...forever.*

 

 

*every realtor circa 2005

 

Real Estate Agents don't ever mention "negative equity."   ????

[bkk6060]

1 hour ago, Leaver said:

You use the word "own" a lot in your post, something we all know that a foreigner can not 100% do in Thailand. 

Condos?

I certainly am curious what you are talking about.

[how241]

1 hour ago, Leaver said:

You use the word "own" a lot in your post, something we all know that a foreigner can not 100% do in Thailand. 

 

There's no need to get into that discussion again, but "owning" in Thailand is not the same as "owning" in western countries. 

You can own condos.  You can own land in a Thai company name  BUT some consider that a 'gray' area of the law and subject to being changed at any time. Due to the costs involved and potential law changes I would not recommend that someone set up a Thai company just to buy a house/land.  Condos are totally legal.  Buy land/house in the name of a trusted Thai friend. If you don't have a trust friend or don't believe that this is possible, then stick with buying condos in your name. Rent houses. No reason  to drag on for 10 pages about the legality of Thai companies.  It has been done to death. 

[Leaver]

49 minutes ago, bkk6060 said:

Condos?

I certainly am curious what you are talking about.

Does a condo float in mid air?  ????

 

Think about it.

[bkk6060]

1 minute ago, Leaver said:

Does a condo float in mid air?  ????

 

Think about it.

Uh, I guess I am dumb don't get it.

[Leaver]

22 minutes ago, how241 said:

You can own condos.

As mentioned, does it float in mid air?

 

22 minutes ago, how241 said:

You can own land in a Thai company name  BUT some consider that a 'gray' area of the law and subject to being changed at any time.

Not a grey area.  It's illegal to set up a Thai company for the purpose of owning property.  Don't confuse "grey area" with lack of enforcement. 

 

24 minutes ago, how241 said:

Buy land/house in the name of a trusted Thai friend.

????????????????

 

26 minutes ago, how241 said:

No reason  to drag on for 10 pages about the legality of Thai companies.

Yes, it's illegal.  Simple as that. 

[Leaver]

6 minutes ago, bkk6060 said:

Uh, I guess I am dumb don't get it.

How about you tell me what "right" a foreign condo owner has over the land their condo block sits on. 

Edited March 23, 2020 by Leaver