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A positive story about buying a house in Thailand


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3 minutes ago, Ralf001 said:

If you were to rent yours, you wont get 35k

Have you seen mine ? Everyone is so sure without even having a single clue of what the house is like, why the focus on rent value ? I really couldn't care less. Let's get back to discuss building and owning, renting is an entirely different thing.

Edited by WhatsNext
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28 minutes ago, WhatsNext said:

If you don't do the work you don't get results, enjoy your search troll !

 

It seems like you call everyone a troll who doesn't agree with your ridiculous valuation. It's probably not your fault...you just fell for the sales pitch.

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1 minute ago, Pravda said:

 

It seems like you call everyone a troll who doesn't agree with your ridiculous valuation. It's probably not your fault...you just fell for the sales pitch.

I call you a troll because you ask me to provide proof for -your- made up arguments. 

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1 minute ago, WhatsNext said:

I call you a troll because you ask me to provide proof for -your- made up arguments. 

 

They are not made up. They are painfully realistic. Notice how I didn't call you a troll for putting false rental prices?

 

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4 minutes ago, Pravda said:

They are not made up. They are painfully realistic. Notice how I didn't call you a troll for putting false rental prices?

I just explained why i called you a troll, that hasn't changed. Changing the focus of the discussion to avoid that, doesn't work. Let's start a new thread about rental prices instead of bickering here about something that really doesn't matter in my situation. I save 40k from my previous way of life and have a comparable house. If you think i save less, fine up to you.

 

to all : i'd like the discussion to focus on something else than rental value of a house you have no clue about, we are never going to agree, i am never going to post pictures and i just don't really care. Thanks and be positive ????

 

Edited by WhatsNext
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6 minutes ago, WhatsNext said:

If you are not trolling, then do tell what was negative about it.

 

Thaivisa is amazing, everything is negative at least with a certain crowd, it's entertaining but a little sad  too. I hope you can see some positive in life as well, trasam. 

 

Not just for Transam : This is turning into a mud fight, i won't be slinging anything back, but before you react ask yourself : Am i contributing something to the information here, or am i just taking away. If the latter is the case, drink some more Chang, find your oldest wife beater and start to walk up and down Soi Bukhao. 

Simple, buying a house using the company ploy purely for a farang to get his hands on it is not legal, so how can your story be positive, it's just a dodgy route you have used.

 

PS. My house/land was built after I got married, so if things did go tits up I would get something out of it, in fact the house and land has now doubled in price, so theoretically I would get my money back. That is a positive story..????

PPS. Derogatory remarks are uncalled for, sorry if you don't like questions in replies.

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4 minutes ago, WhatsNext said:

Sure, i said i am saving 40k a month on rent from my perspective and that's true. 

Was it not you who said your new house would rent for 35k ?

 

Your not saving 40k a month either as you now have all the associated costs of owning the house.

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5 minutes ago, Ralf001 said:

Your not saving 40k a month either as you now have all the associated costs of owning the house.

Now that's a valid point of course, the 1200 baht to the project and the future maintenance are costs that you don't have when renting. Pool/garden maintenance is a choice because i am lazy. On the other side of the coin, i won't have to worry about rent increasing (yeah not now, i know, covid) and i'll get some of my cash back for sure when the house sells. 

 

edit : and i forgot the yearly fee for the company reporting/paperwork, another 1000 or so baht per month. Which you don't have when leasing, but... when selling the company there are no transfer costs, when selling the lease there are. Always 2 sides to everything.

Edited by WhatsNext
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22 hours ago, transam said:

The Limited company ploy, I am sure Patts land office is fully aware of that farang ploy, and perhaps that avenue will come tumbling down at some time...

 

I often wondered how a company that is set up purely to buy a house for a farang, does the profit and loss etc paperwork that a company must do.. Can someone enlighten me..?

First of all,as I know it is propably not legal to have company for only have house on your name???Second ,in a fact you are not an owner,cos You can have only49%.Besides maintain company including paperwork is pretty pricey.

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3 hours ago, WhatsNext said:

Have you seen mine ? Everyone is so sure without even having a single clue of what the house is like, why the focus on rent value ? I really couldn't care less. Let's get back to discuss building and owning, renting is an entirely different thing.

     You're never going to win with these posters.  They aren't interested in important nuances like how a place looks, what is the quality and location of the project, the size and quality of the house and furnishings, etc.  The whole package.  They aren't interested in the nuances that make one house rentable for 35,000 or 40,000 and another only command 20,000 or less; one property sell for a million more than another down the street.   It's the same with prices on both condos and houses for sale.  And, it explains why this property sells at a profit and that property might not.  It can be dozens of different things--which makes it all so interesting, fun, and challenging.

     But, they aren't interested in all that.  Easier to not actually do any homework.  Easier to not actually get out there and see what's what.  Easier to just post vague claims with usually no actual examples to back up what they are claiming.  Surely we all remember the claim that all Thailand condo buildings have a life span of just 30 years, after which they promptly crumble to the ground.  I believe that was later corrected by another poster and amended to 20 years.  At the time I was reading this distressing news I was bravely sitting in my Wong Amat beachfront condo, no hardhat, in a building built back in 1984.  

     Earlier this year we had someone post that houses in Pattaya were now virtually worthless.  Well, if I remember he was actually even vague on his vagueness because I think he also said they had all lost 50% of their value.  So, take your choice--either worthless or worth 50% less, in his learned opinion.  Any real world examples given to back up his claim(s)?  Not a single one.  

     Meanwhile, my partner and I had been house hunting around Pattaya at this same time.  We certainly would have liked to snap up a now 'worthless' house at, say Silk Road, or View Talay Villas, or Siam Lake View, or Jomtien Park Villas, or Siam Royal View, or Baan Balina, or Palm Lakeside Villas, or Baan Fah Rim Haad, or Horseshoe Point, or Mabprachan Garden, or Paradise Villa, or . . .   Well, you get the point.  We searched high and low and did not find any houses that were now 'worthless'--or even priced 50% less.  

     Are there some bargains to be found with properties for rent and for sale?  Sure.  Is everything suddenly worthless or priced 50% off?  No.  Probably not surprising, but quality homes in quality projects seem to be holding their value, both in rentals and sales.

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Guys, if you want to discuss rent prices, you should not exclusivly focus on the price of the object. More important is, where the property is and the quality of the village/surroundings.

An object far off the darkside in the middle of the nowhere will be cheaper to rent than one close to the city in a well maintained village, no matter  if  construction costs were the same.

 

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26 minutes ago, newnative said:

     You're never going to win with these posters.  They aren't interested in important nuances like how a place looks, what is the quality and location of the project, the size and quality of the house and furnishings, etc.  The whole package.  They aren't interested in the nuances that make one house rentable for 35,000 or 40,000 and another only command 20,000 or less; one property sell for a million more than another down the street.   It's the same with prices on both condos and houses for sale.  And, it explains why this property sells at a profit and that property might not.  It can be dozens of different things--which makes it all so interesting, fun, and challenging.

     But, they aren't interested in all that.  Easier to not actually do any homework.  Easier to not actually get out there and see what's what.  Easier to just post vague claims with usually no actual examples to back up what they are claiming.  Surely we all remember the claim that all Thailand condo buildings have a life span of just 30 years, after which they promptly crumble to the ground.  I believe that was later corrected by another poster and amended to 20 years.  At the time I was reading this distressing news I was bravely sitting in my Wong Amat beachfront condo, no hardhat, in a building built back in 1984.  

     Earlier this year we had someone post that houses in Pattaya were now virtually worthless.  Well, if I remember he was actually even vague on his vagueness because I think he also said they had all lost 50% of their value.  So, take your choice--either worthless or worth 50% less, in his learned opinion.  Any real world examples given to back up his claim(s)?  Not a single one.  

     Meanwhile, my partner and I had been house hunting around Pattaya at this same time.  We certainly would have liked to snap up a now 'worthless' house at, say Silk Road, or View Talay Villas, or Siam Lake View, or Jomtien Park Villas, or Siam Royal View, or Baan Balina, or Palm Lakeside Villas, or Baan Fah Rim Haad, or Horseshoe Point, or Mabprachan Garden, or Paradise Villa, or . . .   Well, you get the point.  We searched high and low and did not find any houses that were now 'worthless'--or even priced 50% less.  

     Are there some bargains to be found with properties for rent and for sale?  Sure.  Is everything suddenly worthless or priced 50% off?  No.  Probably not surprising, but quality homes in quality projects seem to be holding their value, both in rentals and sales.

 

Nice story, but lets stick to the facts. I never said property in Thailand is worthless.

 

Please, show me the property that sells for 5.1 million baht and rents for 35,000b. A few links would be nice...it's as simple as that.

Edited by Pravda
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7 minutes ago, JustAnotherHun said:

Guys, if you want to discuss rent prices, you should not exclusivly focus on the price of the object. More important is, where the property is and the quality of the village/surroundings.

An object far off the darkside in the middle of the nowhere will be cheaper to rent than one close to the city in a well maintained village, no matter  if  construction costs were the same.

 

Given the OP's is a new Village I suspect it is way way out on the darkside... the price paid also suggests this too.

 

 

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On 9/11/2021 at 2:25 PM, transam said:
On 9/11/2021 at 2:19 PM, WhatsNext said:

Of course they are aware , it's all over thailand. Of course they can stop it at any point, but they have failed to do so the last 30 years. 

 

There is a yearly fake report being made by the accountant, or real if you want to, i can rent my house from my company and everything will be real. Up to you.

Expand  

So a bit of a gamble, with false documents. Hmmm.

Not just a bit of a gamble, it's 100% illegal.   

 

Even if he rents from the company it will still be nothing more than a ploy for a foreigner to illegally "get ownership" of a property/land using, as you said, a non-trading company.   

 

Probably won't, but it could all come tumbling down particularly if he fell out with the Thais involved.   As long as he's happy, that's all that matters, pro tem.

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On 9/11/2021 at 2:27 PM, WhatsNext said:

I recommend you read up on how houses are "owned" in thailand under the current rules. There are no false documents. If everything comes falling down it will be for all foreign "home owners" in thailand, not just for me, and will cause such a problem that they'll never do it. If they do, no problem transfer house to TGF of choice, lease back. 

If it did all collapse, what makes you think that a person (your girl friend) who's been directly involved in a fraudulent scheme to give ownership of land/property to a foreigner will be allowed to retain the property of which she fraudulently became an part-owner?      I know how low the chances are of that happening but don't forget that there could be a big downside for all three of you.

Edited by Liverpool Lou
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2 minutes ago, Liverpool Lou said:

Not just a bit of a gamble, it's 100% illegal.   

 

Even if he rents from the company it will still be nothing more than a ploy for a foreigner to illegally "get ownership" of a property/land using, as you said, a non-trading company.   

 

Probably won't, but it could all come tumbling down particularly if he fell out with the Thais involved.   As long as he's happy, that's all that matters, pro tem.

 

The funniest thing is that people like op think they are fully protected. Once you do something even remotely dodgy your actions will attract a certain kind of undesirables. 

 

Just Google Ian Rance and or Jonathan Heed as I'm not sure links are allowed.

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There are pros and cons for all of the options to buy. If you are happy with your circumstances and aware of the possible outcomes, then great.

 

One option that I am considering for a property under 6mil is to loan the money to my girlfriend and register that loan (mortgage). not all areas allow this, so it would need to be looked into.

 

1) You can set up the registered mortgage (means at any time you can force her to sell and pay your loan back. If she is uncooperative, you can go to court. I've taken 4 people to court in the last 18 months and it's actually very easy to do).

 

2) Set up a usurfruct to allow you to stay there for more or less forever.

 

3) An MOU in the case you die or she dies - what happens to the mortgage.

 

Or a combination of all 3

 

Better to be done before you get married.

 

everyone's situation is different. But it's another option some may not have heard of. And obviously best to go through a proper lawyer.

 

I also think if you're looking to invest, your money is probably better off elsewhere. But if you want to live and enjoy and don't need to rely on the purchase - then you just need to protect yourself as best you can.

 

Edited by ncc1701d
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On 9/11/2021 at 2:34 PM, WhatsNext said:
On 9/11/2021 at 2:32 PM, transam said:

You quoted false company documents, that must be an offence, surely.

Yeah this is thaivisa, of course i expected the wall of negativity to come rolling in, enjoy yourself

That negativity also happens to be 100% accurate about the chances that you are taking!

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23 hours ago, WhatsNext said:

. Plus a minimal hope of the thai government making the 8 million "visa" a reality in the future (8 million investment and you can own land/house).

Plus a hope that the future legislation will be retrospective for those currently, illegally, owning the property, don't bank on that being the case.

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2 minutes ago, Pravda said:

 

Nice story, but lets stick to the facts. I never said property in Thailand is worthless.

 

Please, show me the property that sells for 5.1 million baht and rents for 35,000b. A few links would be nice...it's as simple as that.

      Feel free to stick to the facts, as well.   I never said you were the poster of that tidbit about property being worthless.  

      You obviously totally missed the point of my post, which was that properties can rent or sell--even in the same projects--for all sorts of different amounts depending on many things.  According to one of your posts, 6 MB houses in Bangkok rent for 13,000 baht.  Rather a blanket statement but even disregarding all the factors that go into one house renting for more or less than another, it doesn't mean that that's the case in Pattaya.  

     You're welcome to check some of the projects I mentioned in my post to get some idea of the varied house values and rents for single-family 3 to 4 bedroom homes in Pattaya, which may be and likely are different than Bangkok, or other areas of Thailand.  Looking for one house selling and renting for specific rental and sale amounts is a pointless exercise, for all the reasons properties differ.   Can one be found?  Likely.  Do I want to look?  No.  Does finding one mean anything, other than this particular house rents for X amount and sells for Y amount?   No.  But, search away if you are so inclined.  

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21 hours ago, WhatsNext said:

Sadly that isn't true, the house i was renting before for 40k was about 8 million with everything included. If i could rent an 18M property for 40k i'd be doing that instead. Of course i am not including condo's as i am not interested in those. 

IMHO especially in these uncertain times you would be far better off in that rental. By not commenting on the other issues I brought up they must have some merit. Location, location, location and timing, timing, timing. At the peak 2002-2008 I developed and built in Costa Rica. Cut up an ocean view farm I bought for 150K usd into 30 lots that sold out in 15 months for 65K a pop. Flipped 5 farms for 4x what I paid. Built a resort on 62 acres costs me 225K, sold in 2008 for 1.2M.

Come 2009, the great depression, home equity loans went the way of Dinosaurs and Costa Rica like Thailand depending on tourist came to a screeching halt and 12 years later I am still sitting on 100 acres I couldn't give away. Point is when life looks like easy street there's danger at your door, Grateful Dead. 

 

Actually the government in Costa Rica got greedy and ran off expats same way Thailand has. Now instead of rich and famous all there is are backpackers taking more than they spend. Luckily Thailand has the Chinese onslaught, just be careful where you step going shopping at Central Festival. 

CHINESE KID SHITTIN IN FRONT OF MALL.jpg

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People have different standards.  I would never, ever have handed over THB 50,000 before signing a contract, since what do you have then?  A handshake?  In my experience in the US such a request would be an insult.

 

Sounds like there are lots and lots of risks with the string-and-bailing-wire ownership structure.  The OP also makes the classic newbie mistake of allowing for zero cost of maintaining the property and in ignoring entirely the opportunity cost of the purchase price which could have been invested without at least the ownership risk.  Living in the home that you own free and clear is never "free."  

 

Still, it may work out for him and I hope it does.

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