What's your top advice for buying a house in Thailand?

[TPDH]

Hey

 

I'm going to buy a house or a townhouse in Bangkok and would love to get some advice about pretty much anything related to that. This would be a house that I'd live in long term, full time and without kids. The legal side and the financial side is already covered so I'm more interested in advice with actually choosing a house. For example: Do you recommend buying a new house or a used house? How can you assure the quality of the house? What are some pitfalls to look out for? Do you recommend buying the house in a gated community or not? Etc. 

 

Thank you! 

Edited October 30, 2020 by TPDH

[FritsSikkink]

Only buy a house when you own the land.

[PatOngo]

5 minutes ago, FritsSikkink said:

Only buy a house when you own the land.

Stirling advice! How many rai do you own?

[mstevens]

Advice on buying a house in Thailand? In a word: DON'T!

[1FinickyOne]

You can get a house inspection to evaluate construction...

 

The worst problem you can run into will be neighbors who make your life miserable. Before buying, visit the premises at odd hours, especially nighttime to see how noisy it might get... 

 

check for flooding... and worry global warming. 

 

management - and fees... look into this. 

 

have an understanding of the market and that resale value may go down... land appreciates and homes depreciate... the climate is not easy on structures and age is deterioration, not charm as it might be back home... 

 

And good luck... 

[ChakaKhan]

Find a thai girl...she will handle the rest about investing your money...

[jackdd]

If you want to invest in property do so in your home country, in Thailand better just rent.

[Andrew Dwyer]

5 hours ago, kenk24 said:

You can get a house inspection to evaluate construction...

 

The worst problem you can run into will be neighbors who make your life miserable. Before buying, visit the premises at odd hours, especially nighttime to see how noisy it might get... 

 

check for flooding... and worry global warming. 

 

management - and fees... look into this. 

 

have an understanding of the market and that resale value may go down... land appreciates and homes depreciate... the climate is not easy on structures and age is deterioration, not charm as it might be back home... 

 

And good luck... 

Good advice.

 

If thinking about used check out the Government Bank ( the pink one ) as they often reclaim houses when the owners couldn’t make the payments. A couple of good examples of 4 year old houses reclaimed in my moobahn, once reclaimed the bank makes little effort for resale ( their padlocks fitted and maybe a “for sale” banner ) no attempt to even tidy the property.
Not sure what resale prices they are asking but  could be worth a look, maybe find a bargain.

[bert bloggs]

First have a wife and family you completely trust .

second ,visit the property a few times ,to make  sure of noise etc 

third intend to end your days there, we had  lived in our home in the UK for years

then came back to Thailand and lived in an appt for 6 months while looking for our home ,been here in it now for 15 years. its our paradise.

life is what you make it(mind you a little luck helps.)

[Hayduke]

What's your top advice for buying a house in Thailand?

 

Don’t spend any more money than you can afford to lose.

 

 

[Lacessit]

For Heaven's sake, rent. You buy a house in Thailand, you are stuck with it. If the neighbors from hell move in, you are stuck with them. If the place starts falling apart due to shoddy construction, you are stuck with that too. Trucks decide to make your street a thoroughfare. A slipup in your visa, out you go, the Thai "asset" becomes worthless.

A friend of mine just sold his house after 5 years of stress. My former landlord has been trying to offload three apartments in a Chiang Mai condo for 10 years.

Renting solves all of those problems.

Edited October 31, 2020 by Lacessit

[johng]

34 minutes ago, Andrew Dwyer said:

Not sure what resale prices they are asking but  could be worth a look, maybe find a bargain.

All/any  "bargains"  would have been snapped up by  friends and family of the bank employees long before they get advertised the banks  don't care either way   they just keep the  price high  and the property on their books  so as not to declare them as "non performing loans"  hoping one day a buyer will materialise.

[banglay]

If you intend to stay long time in Thailand Buy .....I bought 12 yrs ago in a company Name ....and the house paid for itself in 10yrs (if I'd have rented a similar property )  renting long term is a waste of money .. just find the right property in the right location for you .....don't be put off by all the doom and groom renter out there ...Good luck with your intended purchase

[thaibeachlovers]

4 minutes ago, banglay said:

If you intend to stay long time in Thailand Buy .....I bought 12 yrs ago in a company Name ....and the house paid for itself in 10yrs (if I'd have rented a similar property )  renting long term is a waste of money .. just find the right property in the right location for you .....don't be put off by all the doom and groom renter out there ...Good luck with your intended purchase

Thailand now is very different from 10 years ago. Accepted wisdom from many years ago does not apply.

 

I find it hard to believe anyone would be buying during a pandemic and an immigration biased, IMO, against long stay farangs.

 

At least wait till the epidemic is over, however many years away that may be.

[CorpusChristie]

9 minutes ago, thaibeachlovers said:

Thailand now is very different from 10 years ago. Accepted wisdom from many years ago does not apply.

 

I find it hard to believe anyone would be buying during a pandemic and an immigration biased, IMO, against long stay farangs.

 

At least wait till the epidemic is over, however many years away that may be.

 

  That would just mean having to pay rent for a few more years , although you may get a cheaper property, if the property prices crash 

[1FinickyOne]

21 minutes ago, banglay said:

don't be put off by all the doom and groom renter out there .

They must be married to their properties?

 

I know, just a typo but couldn't help myself.. 

[Pilotman]

I don't want to get into the whole 'it isn't legal for a farang to own a house' debate yet again. There are lots of comments on TVF already. most of them ill informed.  If you want to talk by PM, I'm happy to give you my take and share my wholly positive experience of house buying. 

[worgeordie]

The old adage ....Location, Location, Location, if you ever

need to sell it will be a lot easier, but then location comes

at a price.

regards worgeordie

[Lacessit]

44 minutes ago, banglay said:

If you intend to stay long time in Thailand Buy .....I bought 12 yrs ago in a company Name ....and the house paid for itself in 10yrs (if I'd have rented a similar property )  renting long term is a waste of money .. just find the right property in the right location for you .....don't be put off by all the doom and groom renter out there ...Good luck with your intended purchase

Right property, right location, good construction, good neighbors. Right price.

That sounds to me like a slot machine at a casino.

[jaideedave]

7 hours ago, kenk24 said:

You can get a house inspection to evaluate construction...

 

The worst problem you can run into will be neighbors who make your life miserable. Before buying, visit the premises at odd hours, especially nighttime to see how noisy it might get... 

 

check for flooding... and worry global warming. 

 

management - and fees... look into this. 

 

have an understanding of the market and that resale value may go down... land appreciates and homes depreciate... the climate is not easy on structures and age is deterioration, not charm as it might be back home... 

 

And good luck... 

Good advice.Make the effort to check out the neighbors . The ones across the soi moved in after me and they are proper <deleted>. They ripped me off dealing with a tradesman.They said the job was 20 k. Later the trades guy told me he was paid only 12k.I sincerely hope their house burns to the ground.

Where I come from you wouldn't even consider ripping off a neighbor.Of course unless he deserved it.lol

[jaideedave]

1 hour ago, bert bloggs said:

First have a wife and family you completely trust .

second ,visit the property a few times ,to make  sure of noise etc 

third intend to end your days there, we had  lived in our home in the UK for years

then came back to Thailand and lived in an appt for 6 months while looking for our home ,been here in it now for 15 years. its our paradise.

life is what you make it(mind you a little luck helps.)

I put my house in my stepdaughters name.I promptly got a legal ( lawyer) 30 year lease.She can't sell it or anything until I expire.Then she can have it.BTW shes a sweetheart.

[Grumpy one]

Be the first to build in the area.

Then any prospective future owners have to worry what type of neighbour you are.

Loud music, dogs and very bad karaoke should let you be the boss  of the block  

Edited October 31, 2020 by Grumpy one

[FritsSikkink]

9 hours ago, PatOngo said:

Stirling advice! How many rai do you own?

My wife owns 3 lots, 8,5 / 0.5 / 1,5 rai.

2 of them with a house, other Durian farm.

Renting a house in BKK as the land is too expensive.

Edited October 31, 2020 by FritsSikkink

[Surelynot]

In a word (or two) DON'T.....only ever rent.

[david555]

1 hour ago, Pilotman said:

I don't want to get into the whole 'it isn't legal for a farang to own a house' debate yet again. There are lots of comments on TVF already. most of them ill informed.  If you want to talk by PM, I'm happy to give you my take and share my wholly positive experience of house buying. 

 

 

That would be exactly the response a real estate agent would give …..????

 

 

PS:  by this  not assuming you are one ...????

Edited October 31, 2020 by david555

[ICELANDMAN]

17 minutes ago, Surelynot said:

In a word (or two) DON'T.....only ever rent.

And maybe after 10 years you will leave Thailand having avoided bad investments.

[Rdrokit]

Be there everyday when they are building the house to make sure no short cuts are taken. I would visit the site everyday around noon and bring food for the workers as most of them just had a small amount of rice and water for lunch. 

 

My house was built 14 years ago and I have had no problems. 

[1FinickyOne]

1 hour ago, jaideedave said:

The ones across the soi moved in after me

good point - that makes it tough.. 

[Toscano]

10 hours ago, ChakaKhan said:

Find a thai girl...she will handle the rest about investing your money...

And that will be the last you see of it , buy house in her name and she'll kick you out .

Just for yourself you are best advised to buy a condo , that you can wholly own and sell when you want to leave . 

[parallaxtech]

5 hours ago, banglay said:

If you intend to stay long time in Thailand Buy .....I bought 12 yrs ago in a company Name ....and the house paid for itself in 10yrs (if I'd have rented a similar property )  renting long term is a waste of money .. just find the right property in the right location for you .....don't be put off by all the doom and groom renter out there ...Good luck with your intended purchase

I did the same  2007 in Samui - best investment I ever made!