House purchase

[khunPer]

18 hours ago, Boyn said:

When i retire to Thailand (hopefully) next year i will buy a house, is it best to buy in a gated community? is the security worth it?

 As i want my own pool there is no advantage to me of a community pool

So will the monthly charge be worth it? Are there any advantages im not seeing?

It's a question of personal preferences.

 

I would never wish to be inside a gated community depending of both fee and rules, I prefers my freedom with an individual chanote-title plot of land, and being my own master as long as it's allowed by government rules or other servitudes.

 

From a security point of view you can gate and wall your land, and install x-number of CCTV-cameras; just the presence of security cameras might be enough.

????

[rickudon]

Also bare in mind that selling houses is not as easy as in the farang world. Sometimes houses stay empty for years, unless selling at a big discount. Also inheritance to a non-Thai can be an issue. 

[Tazmo]

I have read some of the replies. It’s obvious that experiences differ greatly.

you will need to do your own research on the area or community you want to purchase.

it is never a no, no, because there’s good and bad, as everywhere else in the world!

 I have lived in a Gated Community now for 2 years and it’s been a good experience.

beforehand, I knew there was an International School nearby and some of its staff lived there.

the same goes for local restaurants, all used by the School’s staff and visiting parents.

 I go away a lot, and no problem. Never put up window bars etc. loads of people available for watering your garden; cleaning; moving the lawn; laundry collection etc good and cheap local services. Electricians, plummers, builders, mainly handymen ( be careful of their qualifications)

some electrical work can be risky. But if you have a Thai speaking partner, no problem whatsoever.

[paddyfield7]

We were looking at gated communities but decided not to buy a house there. First of all, we didn't want a house style where the next 99 looked exactly the same. Secondly, the space between the houses for our taste is much to small almost everywhere. We decided to buy quite a piece of land (2 Rai) a bit outside of our city, thus it was our decision how far or how close any next neighbour would live. We have designed the layout and design of our house ourselves and built it without an architect, thus it is very unique.

[1FinickyOne]

13 hours ago, Boyn said:

Thanks for answering guys, it seems that a gated community is not that great

depending where you are, resale might be very difficult... the type of people who buy into moo bahns, usually want new, so 2nd hand is undesirable and in many many places, there is so much overstock on the market that many don't bother to even list their properties...

 

the other problem I have w/moo bahns is that so many are uninteresting in that near every house looks the same... they become soulless pits of boredom. I have had friends come and be enthralled w/a moo bahn because their rental is so cheap compared to USA prices... they stay a year and then move out. 

[Pinot]

I always advise NEVER buy property in Thailand. Rent is cheap and once you purchase it's difficult to sell.

 

I have two friends who coincidentally happen to sell their homes in Phuket for half of what they bought them for. Both homes had been for sale for 10 years. 

 

10 years. 

 

Buying a home in Thailand is a financial mistake. 

[Orinoco]

18 hours ago, KhunLA said:

I only see disadvantages in a gated community, of course, does depend on which.

 

You want a private pool, so your paying for the upkeep of something you won't using.

Do you want the assoc. to dictate what you can / can't do, paint your house polka dots, what trees, how high grass or hedge or wall can be.  Future expansion, add on, gazebo / sala.

Snotty neighbor jealous, since he can't have, doesn't want you to have.

Proximately to neighbors, less privacy, will they disturb you or you them.

Security ... most break in are by neighbors who know your schedule ????

 

When half the people stop paying the assoc fee, yours will go up, or, turned over to the amphur.  Your now gated community is public through way.

 

Chose wisely.

and some

[Why Me]

3 hours ago, Guderian said:

And if you're staying here for more than a few years, then definitely buy, only an idiot would rent here for more than that length of time. I've owned my house for more than 10 years and have already saved over half of what it cost me by not having to pay 30K Baht a month to some stranger.

Hmm. I did the math years ago. Rented and kept the money in the US market. Made out like a bandit, i.e., made multiple times my rent money over the years.

 

Keep in mind rent is cheap here, typically 3-4% of purchase price. Unlike the US where it's more like 10%. And markets typically return 7%pa in the long run (though it's been much more than that past few years) so there's your differential right there. Plus in the US there's owner's tax breaks, not here.

 

Bottom line, financially there's no advantage to renting in Thailand if you have access to a western market to invest in. But, of course, some like to own, fair enough.

[Thingamabob]

19 hours ago, Gottfrid said:

The biggest disadvantage is that during time the guards get lazy or totally disappear. Better with your own villa and pool.

I agree.

[CharlieH]

Reported post and replies to it removed.

[WhiteBuffaloATM]

Massive Subject. Do Six Months DUE DILIGENCE. In & Out of Country. Many Large Decisions.

Buy or Rent, Build or Existing, Freehold or Lease, Home or Investment, Developer or Private, Gated or Open, Urban or Rural, Sea or Mountain, House Design & Size, Quiet or Lively. For Best Peace & Quiet & Quality : Do NOT Live Near Any Thai Households !

[fredscats]

Nothing is selling now,unless give-away,will get far worse     then will you be able to live long time in Thailand?   does not look hopeful

[NightSky]

My wife owns a house in gated community I lived there 6 years, it was really nice with nice neighbors and we only left due to work requirements elsewhere. We are thinking of selling the detached villa with communal pool, gym and security. 10 minutes from downtown Bangkok and 10 minutes from the airport. 
 

We are thinking of renting it out or selling at reduced price if interested pm me for more information. (About 6.9 million baht actual value about 8.5 million)

Edited November 12, 2021 by NightSky

[thailand49]

15 hours ago, Boyn said:

Thanks for answering guys, it seems that a gated community is not that great

 

 

 

 

 

I suggest you rent and live in one first that will give you time to think hard about it. From your post you don't know enough to buying outside of a gate community plus you do know you can't own land in Thailand ( but there are ways ) no matter how much their leaders are giving hope to outsider during the pandemic they might one day!

[robertson468]

12 hours ago, HAPPYNUFF said:

You probably know , but   us farangs cannot   own land in Thailand, so  as for YOU buying a house, forget it.   Your  Thai partner can of course have it in their name, at your peril.

Wrong, you see a Solicitor, form a Company with share holders, (who have no voting rights or financial benefit) and the Company owns the land.  Thousands of foreigners have done this, including myself, until I got to trust my Thai Wife 100% and then signed it all over to her (we actually have a small resort).  But I would agree with one of the previous pieces of advice.  Rent first and really get to know the area, then if there is anything that you don't like, you can move on and look again.  Good luck.

[LikeItHot]

Well first thing is: You're crazy

And the second thing is: See the first thing

[bontang]

Forget buying a House in any housing Estate as  whoever the Person taking care of the Estate they are in there for themselves n become dictators,

 

You better off Renting a Place for 1 year that will give you time to scout around to find a nice size Block of Land,  1 Rai is  enough as you can grow your own Veggies, have a few Ducks, Chucks & enjoy  Life, 

Don't get sucked in by any of the local Ladies as they have the. Expensive touch & Excess Baggage

 

There are many nice Blocks of Land upcountry make sure the land has a Title deed, 

 

Good Luck Mate,

 

 

[LikeItHot]

1 hour ago, WhiteBuffaloATM said:

Massive Subject. Do Six Months DUE DILIGENCE. In & Out of Country. Many Large Decisions.

Buy or Rent, Build or Existing, Freehold or Lease, Home or Investment, Developer or Private, Gated or Open, Urban or Rural, Sea or Mountain, House Design & Size, Quiet or Lively. For Best Peace & Quiet & Quality : Do NOT Live Near Any Thai Households !

You are a third class citizen here with no laws enforcement or legal protection. Neighbors here are insane. It's a matter of time before a drunk karaoke singer with a dog that barks all day and night moves in next to you and there won't be a thing you can do about it. If you buy here you are a crazy.  And anyone who says this isn't true is either lying or hasn't been here long enough to know. Google Thai neighbor news and is one murder after another.  Recently a Swiss guy defended himself against a gun wilding That attacker. Straight to jail do not pass go. Never buy anything here you can't sell on the way to an airport or walk away from.

[BritManToo]

22 hours ago, KhunLA said:

I only see disadvantages in a gated community, of course, does depend on which.

I live in a gated community.

It's very safe for the kids, the guards won't let them out of the gate without permission.

If you're not home, the gate will accept your deliveries.

We have a nice park to walk around, no speaker vans are allowed inside.

No traffic, hardly any noise at any time of the day or night.

Zero crime in the community, no break-ins, no car or m/c theft. 

The old folks all sit round tables in the park every evening.

No pool, but we do pay 400bht/month for the guards, streets and grounds maintenance.

Probably not a good idea to buy cash up front, I gave my woman 10% and the rest is a bank loan, repayments 9k/month.

Me and an Italian guy (no English) are the only foreigners in the moobaan of 250 homes.

 

No downside for me, and I've been here for 8 years now, it's nice.

Edited November 12, 2021 by BritManToo

[wongkel]

totally agree. I made a terrible mistake buying a condo in Phuket. Now the management is so bad that they don't maintain the place and it is so run down despite paying management fees. The pool is dirty, gym closed, paint work peeling off, security guard not there. The thai juristic is ignoring my emails. I have filed a complain with the consumer protection board. Does anyone know who else I can raise a complain with ? 

 

[WhiteBuffaloATM]

5 minutes ago, LikeItHot said:

You are a third class citizen here with no laws enforcement or legal protection. Neighbors here are insane. It's a matter of time before a drunk karaoke singer with a dog that barks all day and night moves in next to you and there won't be a thing you can do about it. If you buy here you are a crazy.  And anyone who says this isn't true is either lying or hasn't been here long enough to know. Google Thai neighbor news and is one murder after another.  Recently a Swiss guy defended himself against a gun wilding That attacker. Straight to jail do not pass go. Never buy anything here you can't sell on the way to an airport or walk away from.

TRUE. In addition a Car Wrecking or Karaoke Bar or Ice Crushing business or Difficult Thai CAN move in next door, at any time……That’s why you AVOID Thai Households / Neighbourhoods Completely. Foreigner Only Complex in Tourist Area suggested…. strongly. Thais Normally Avoid any “Common Fund” Developments. Difficult Cranky Old Farangs still around though. Surrounded by Them Here. After Buying House Off Plan. Fixed by Police Reports from my Thai Lady. Check The Neighbours !

[Jen65]

14 hours ago, Jeffr2 said:

Via a company.  You need 3 shareholders.  My other 2 are my wife and her mother.

As long as you can find 2 other willing shareholders , you can have them sign over their share to you and thus you become the controlling shareholder .  

[CharlieH]

A Golden rule here, often repeated and never fades in relevance, is NEVER spend or invest any more than you would feel comfortable walkibg away from !

 

[natway09]

Sound like a person who knows what he wants & yes, a Company purchase can get around that 

Think you need 4  shareholders but that part is easy.

You have not mentioned where you want to live ? It makes a heck of a difference.

Let me know & I can send you some constructive ideas also on building or buying

[thaibook]

3 hours ago, Why Me said:

Hmm. I did the math years ago. Rented and kept the money in the US market. Made out like a bandit, i.e., made multiple times my rent money over the years.

 

Keep in mind rent is cheap here, typically 3-4% of purchase price. Unlike the US where it's more like 10%. And markets typically return 7%pa in the long run (though it's been much more than that past few years) so there's your differential right there. Plus in the US there's owner's tax breaks, not here.

 

Bottom line, financially there's no advantage to renting in Thailand if you have access to a western market to invest in. But, of course, some like to own, fair enough.

I would like to suggest there is more to owning property than the financial return and even then everywhere is not teh same, nor everytime, viz buying in 1928, even in the USA - except in the boondocks - or buying in London at almost any time since 1960.

 

When renting you are at the mercy of the landlord especially in a country with no balanced system of justice.  I would not be surprised if to the Thai authorities buying indicated permanence and renting transience.

[Boyn]

Once again thanks for the replies, I have been married for a long time to a Thai and she lives in England with me. We are intending to live in Hua Hin as i like the place ,and yes we will rent before we buy, it would appear that everything in Thailand is a lottery so lets hope im lucky.

[Why Me]

1 hour ago, thaibook said:

I would like to suggest there is more to owning property than the financial return

I did say financially it makes no sense to buy here. If other factors like pride of ownership etc. come in, then that's another matter. I make no claim other than financially.

 

1 hour ago, thaibook said:

When renting you are at the mercy of the landlord especially in a country with no balanced system of justice. 

Actually it's the other way around:-) Landlords, especially, those who make a business of it with multiple units are desperate for long-term residents. Case in point I moved into my place in 2002 for 25k/mth. After a couple of years told them that I won't move if they lower to 20k. They did and that's what I have been paying since.

[Albert Zweistein]

17 hours ago, HAPPYNUFF said:

You probably know , but   us farangs cannot   own land in Thailand, so  as for YOU buying a house, forget it.   Your  Thai partner can of course have it in their name, at your peril.

He can buy a house and lease the land.

[Boyn]

The house will be in my wifes name we have been together a long time, i refuse to limit my life choices by mistrusting everybody, She gets everything in my will anyway,she deserves it after putting up with me for long time.

[ThaiAl]

18 hours ago, jackdd said:

The main advantage of a gated community is that it greatly reduces the chance of your next door neighbour opening a karaoke bar, metal workshop or pig farm.

But why even buy? Because that's what your gf/wife wants? Rent, don't buy.

I would also recommend not buy in the first year(s). Look how life is, maybe you wanbt to change the city or suddenly like to have an appartment, etc.