Thailand First Trip... Buy House?

[Gorguruga]

Hi

I'm planning on visiting Thailand for the first time in August and at the same time I'm considering buying a house out there with the intention of renting in the future. I do however have a number of questions and I'd appreciate the answers of people who are currently living in Thailand (or have in the recent past) and also people already on the property ladder over there.. Or in other words, people with a personal experience of Thailand!

• What are the Visa requirements I should address before I leave the UK if I intend to buy a property over in Thailand? What is the procedure and timescale for obtaining the correct visa and can I go with a tourist Visa (or no Visa) and update the Visa when I'm there?
  
• If I buy a condo for 1 million Bhat, how much on average should it be rented it out for every month? I'm trying to figure out how quickly, on average, I can expect to recoup my investment costs and go into profit?
  
• What cut would a property management agency receive if I leave it in their hands to source potential tenants and maintain the property? Are there any specific companies you would recommend to take care of that?
  
• At the moment I'm thinking to stay for 4 months but I may stay longer. What are the limitations to my stay and are there any ways around this? I've heard about doing a "border jump" for a few days but not sure exactly how it works. If I crossed the border to Malaysia for a few days and return to Thailand would that mean my visa would refresh and could I keep doing "border jumps" to stay in Thailand indefinately? Hypothetically speaking, could I use the "border jump" method to stay in Thailand for a period of years without any backlash from the authorities?
  
• For the first 2 or 3 months I plan to rent out a one-bed room apartment with kitchen. How much should I expect to pay in Bangkok, Phuket or Pattya?
  
• What area of Thailand would you most recommend buying a property in ?
  

I have endless questions and will probably ask loads more.. I'm really looking forward to visiting and investing in Thailand, and I'd appreciate your insight and guidance..

Thanks

Guru

[jdinasia]

You have never been here? Not read up on the rules? yet are considering investing in a low end condo?

I hate to say it but you are gonna get SOAKED!

[lannarebirth]

What is a "property ladder" ? TIA

[canuckamuck]

Hi

I'm planning on visiting Thailand for the first time in August and at the same time I'm considering buying a house out there with the intention of renting in the future. I do however have a number of questions and I'd appreciate the answers of people who are currently living in Thailand (or have in the recent past) and also people already on the property ladder over there.. Or in other words, people with a personal experience of Thailand!

• What are the Visa requirements I should address before I leave the UK if I intend to buy a property over in Thailand? What is the procedure and timescale for obtaining the correct visa and can I go with a tourist Visa (or no Visa) and update the Visa when I'm there?
  
• If I buy a condo for 1 million Bhat, how much on average should it be rented it out for every month? I'm trying to figure out how quickly, on average, I can expect to recoup my investment costs and go into profit?
  
• What cut would a property management agency receive if I leave it in their hands to source potential tenants and maintain the property? Are there any specific companies you would recommend to take care of that?
  
• At the moment I'm thinking to stay for 4 months but I may stay longer. What are the limitations to my stay and are there any ways around this? I've heard about doing a "border jump" for a few days but not sure exactly how it works. If I crossed the border to Malaysia for a few days and return to Thailand would that mean my visa would refresh and could I keep doing "border jumps" to stay in Thailand indefinately? Hypothetically speaking, could I use the "border jump" method to stay in Thailand for a period of years without any backlash from the authorities?
  
• For the first 2 or 3 months I plan to rent out a one-bed room apartment with kitchen. How much should I expect to pay in Bangkok, Phuket or Pattya?
  
• What area of Thailand would you most recommend buying a property in ?
  

I have endless questions and will probably ask loads more.. I'm really looking forward to visiting and investing in Thailand, and I'd appreciate your insight and guidance..

Thanks

Guru

I have endless answers but I make them up as I go. luckily many of these things have been covered already in various threads

check out some of these areas and you will find some quick answers

http://www.thaivisa.com/forum/index.php?showforum=1

http://www.thaivisa.com/forum/index.php?showtopic=67483

You are doing the right thing in finding some info first, Thailand does not make it easy to do what you want to do. The biggest obstacle is: non Thais face many restrictions to owning property. really, really restrictive retrictions restricting it nearly absolutley!

I hope you have a great deal of patience and no deadlines to consider.

[A_Traveller]

What is a "property ladder" ? TIA

A UK phrase, relating to the situation where house prices rise quicker than a person can save the deposit {purchase price = % deposit+mortgage} and so it become more difficult to buy the first property. {1st rung on the ladder} The next step is then to sell the first property {which has increased in value} thereby allowing a larger deposit and larger mortgage to buy second {rung} property. Hence ladder, as in one step up the ladder.

Whilst not unique to the UK the particular taxation and property valuations often make people assume that everywhere else has the same 'issues'.

Since an individual foreigner {or foreign entity} cannot own land the situation here is different, despite the desire to talk up the property market.

Regards

[observer21]

There is a property ladder in Thailand but a bit different to the UK.  If you buy your at the top and when you sell your at the bottom

However it is a buyers market at the moment.  A lot of real bargains to be had.  but 1 million is not going to get you anywhere where taxis will go

[chaiyen]

Hi

I'm planning on visiting Thailand for the first time in August and at the same time I'm considering buying a house out there with the intention of renting in the future. I do however have a number of questions and I'd appreciate the answers of people who are currently living in Thailand (or have in the recent past) and also people already on the property ladder over there.. Or in other words, people with a personal experience of Thailand!

• What are the Visa requirements I should address before I leave the UK if I intend to buy a property over in Thailand? What is the procedure and timescale for obtaining the correct visa and can I go with a tourist Visa (or no Visa) and update the Visa when I'm there?
  
• If I buy a condo for 1 million Bhat, how much on average should it be rented it out for every month? I'm trying to figure out how quickly, on average, I can expect to recoup my investment costs and go into profit?
  
• What cut would a property management agency receive if I leave it in their hands to source potential tenants and maintain the property? Are there any specific companies you would recommend to take care of that?
  
• At the moment I'm thinking to stay for 4 months but I may stay longer. What are the limitations to my stay and are there any ways around this? I've heard about doing a "border jump" for a few days but not sure exactly how it works. If I crossed the border to Malaysia for a few days and return to Thailand would that mean my visa would refresh and could I keep doing "border jumps" to stay in Thailand indefinately? Hypothetically speaking, could I use the "border jump" method to stay in Thailand for a period of years without any backlash from the authorities?
  
• For the first 2 or 3 months I plan to rent out a one-bed room apartment with kitchen. How much should I expect to pay in Bangkok, Phuket or Pattya?
  
• What area of Thailand would you most recommend buying a property in ?
  

I have endless questions and will probably ask loads more.. I'm really looking forward to visiting and investing in Thailand, and I'd appreciate your insight and guidance..

Thankso

Guru

I have a REALLY difficult time with farang that move to Thailand with the intention of making money..... Why don't you travel around Thailand, decide for yourself where you want to stay- How do you even know if you will like it at all? If you have never travelled to Thailand it boggles my mind that you have such big expectations.....you think you can just plop yourself down wherever you like??? Or wherever someone else likes because you cannot be bothered to make look for yourself?....Take it easy, don't rush, you must take the time....good luck.

[Mossfinn]

Why don't you travel around Thailand, decide for yourself where you want to stay-

Agree with this

How do you even know if you will like it at all? If you have never travelled to Thailand it boggles my mind that you have such big expectations

A little strange but not uncommon, particularly Brits hitting certain parts of Europe.

Or wherever someone else likes because you cannot be bothered to make look for yourself?

This is a common trend, but generally in former Soviet block, recently self governing countries, people are speculating, why not Thailand, but with little research and planning, to coin a previous poster, wait for splash down.

Take it easy, don't rush, you must take the time....good luck.

Good advice

Moss

[Gorguruga]

I have a REALLY difficult time with farang that move to Thailand with the intention of making money..... Why don't you travel around Thailand, decide for yourself where you want to stay- How do you even know if you will like it at all? If you have never travelled to Thailand it boggles my mind that you have such big expectations.....you think you can just plop yourself down wherever you like??? Or wherever someone else likes because you cannot be bothered to make look for yourself?....Take it easy, don't rush, you must take the time....good luck.

I've never been to Thailand but one of my aunts (by marriage) is Thai, living in the UK, and I've met many of her extended family when they visited UK from Thailand. My aunt insists that I visit the country, she says i will love it. Aunt and uncle go to there once a year and they are always telling stories about Thailand when they return to England. I'd have to make sure I enjoy the country before I buy property there but I already have a good impression!

If I end up staying in Thailand I'd possibly live in the condo I buy and then rent it out after I leave Thailand. Then again I may just rent it out straight away and possibly buy another property around the same time to live in. I'm not sure how I'm going to go about the whole thing, which is why I'm here... for your ideas?

Edited June 21, 2007 by Gorguruga

[ThaiPauly]

The most you will get in rent would be approx 70 quid a month for a house costing that much. Thats IF you could rent it, there is a glut of property for rent at he moment, then their are agents fees, repairs, etc to come out of that.

Is it worth all the hasle?

Edited June 21, 2007 by ThaiPauly

[bkkandrew]

Hi

I'm planning on visiting Thailand for the first time in August and at the same time I'm considering buying a house out there with the intention of renting in the future. I do however have a number of questions and I'd appreciate the answers of people who are currently living in Thailand (or have in the recent past) and also people already on the property ladder over there.. Or in other words, people with a personal experience of Thailand!

But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), if your are not a Thai citizen, so what on earth do you intend 'buying'?

Edited June 21, 2007 by bkkandrew

[JetsetBkk]

But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), <snip>

Incorrect.

[bkkandrew]

But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), <snip>

Incorrect.

Praise be. JetsetBkk has discovered a way of non-Thais to own land in Thailand.

Care to share, so we can all indulge...?

[calibanjr.]

Hi

I'm planning on visiting Thailand for the first time in August and at the same time I'm considering buying a house out there with the intention of renting in the future. I do however have a number of questions and I'd appreciate the answers of people who are currently living in Thailand (or have in the recent past) and also people already on the property ladder over there.. Or in other words, people with a personal experience of Thailand!

• What are the Visa requirements I should address before I leave the UK if I intend to buy a property over in Thailand? What is the procedure and timescale for obtaining the correct visa and can I go with a tourist Visa (or no Visa) and update the Visa when I'm there?
  
• If I buy a condo for 1 million Bhat, how much on average should it be rented it out for every month? I'm trying to figure out how quickly, on average, I can expect to recoup my investment costs and go into profit?
  
• What cut would a property management agency receive if I leave it in their hands to source potential tenants and maintain the property? Are there any specific companies you would recommend to take care of that?
  
• At the moment I'm thinking to stay for 4 months but I may stay longer. What are the limitations to my stay and are there any ways around this? I've heard about doing a "border jump" for a few days but not sure exactly how it works. If I crossed the border to Malaysia for a few days and return to Thailand would that mean my visa would refresh and could I keep doing "border jumps" to stay in Thailand indefinately? Hypothetically speaking, could I use the "border jump" method to stay in Thailand for a period of years without any backlash from the authorities?
  
• For the first 2 or 3 months I plan to rent out a one-bed room apartment with kitchen. How much should I expect to pay in Bangkok, Phuket or Pattya?
  
• What area of Thailand would you most recommend buying a property in ?
  

I have endless questions and will probably ask loads more.. I'm really looking forward to visiting and investing in Thailand, and I'd appreciate your insight and guidance..

Thankso

Guru

I have a REALLY difficult time with farang that move to Thailand with the intention of making money..... Why don't you travel around Thailand, decide for yourself where you want to stay- How do you even know if you will like it at all? If you have never travelled to Thailand it boggles my mind that you have such big expectations.....you think you can just plop yourself down wherever you like??? Or wherever someone else likes because you cannot be bothered to make look for yourself?....Take it easy, don't rush, you must take the time....good luck.

Not NEARLY as difficult a time that they do!

I'm pretty much in synch with you!

[JetsetBkk]

But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), <snip>

Incorrect.

Praise be. JetsetBkk has discovered a way of non-Thais to own land in Thailand.

That's not what I wrote.

You cannot own the land but you can own the house.

Edited June 22, 2007 by JetsetBkk

[bkkandrew]

But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), <snip>

Incorrect.

Praise be. JetsetBkk has discovered a way of non-Thais to own land in Thailand.

That's not what I wrote.

You cannot own the land but you can own the house.

I could be pedantic, but that would simply expose your stupidity. OK, never mind, I will anyway. You wrote "incorrect" to the statement: "But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), if your are not a Thai citizen". Quite clear I was referring to the land to any normal person. Crawl back under from whence you came.

[chingching]

A lot of negative replies, but I think OP has a good workable plan. I suggest tho, marrying a bargirl at the same time, that way if you do take a vacation she can watch the property for you, collect the rents, etc. You will save more money that way.

[dave111223]

[*]If I buy a condo for 1 million Bhat, how much on average should it be rented it out for every month? I'm trying to figure out how quickly, on average, I can expect to recoup my investment costs and go into profit?

Probably 3000-5000 per month (£45 - £75 per month)

[highchol]

A lot of negative replies, but I think OP has a good workable plan. I suggest tho, marrying a bargirl at the same time, that way if you do take a vacation she can watch the property for you, collect the rents, etc. You will save more money that way.

chingching.

ching ching

Edited June 22, 2007 by highchol

[jetjock]

A lot of negative replies, but I think OP has a good workable plan. I suggest tho, marrying a bargirl at the same time, that way if you do take a vacation she can watch the property for you, collect the rents, etc. You will save more money that way.

Great suggestion chingching . If I might add one thing---after marrying the bargirl--rather than buy a condo, why not buy a house instead because now you can buy it in your new Thai wife's name ! A fool and his money are soon parted especially in Thailand.

Edited June 22, 2007 by jetjock

[PhilHarries]

A lot of negative replies, but I think OP has a good workable plan. I suggest tho, marrying a bargirl at the same time, that way if you do take a vacation she can watch the property for you, collect the rents, etc. You will save more money that way.

Great suggestion chingching . If I might add one thing---after marrying the bargirl--rather than buy a condo, why not buy a house instead because now you can buy it in your new Thai wife's name ! A fool and his money are soon parted especially in Thailand.

Also a heavy investment in the Buffalo welfare society could pay dividends.

[Sir Burr]

Of course you gan buy land and 'virtually' own it. What you can't do is sell it. You can take out a registered 30 year lease and have the house in your name, though, that is pretty irrelevent.

If you want to buy/build a house to live in and know that you will stay there for 30 years, the above solution makes the house as good as yours.

If you need to sell, you put the lease in the name of a trustworty Thai. As you in with a Thai family, this should pose no difficulty. Don't listen to all these naysayers. A Lot of foreigners have made a lot of money from land and property. The secret is have a very, very trustworty Thai behind you.

A million baht condo will be a slum. You will realisticly need 4 to 5 million baht for a condo, or, 10 million for a house if you want to make good returns from rental.

[JetsetBkk]

But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), <snip>

Incorrect.

Praise be. JetsetBkk has discovered a way of non-Thais to own land in Thailand.

That's not what I wrote.

You cannot own the land but you can own the house.

I could be pedantic, but that would simply expose your stupidity. OK, never mind, I will anyway. You wrote "incorrect" to the statement: "But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), if your are not a Thai citizen". Quite clear I was referring to the land to any normal person. Crawl back under from whence you came.

I wrote "incorrect" to your statement "you can't own a house over here (by virtue of the fact you cannot own the land it sits on)" - which is the bit I quoted.

And that statement of yours is incorrect because you can own the house even if you don't own the land. Clear now?

Excuse me while I go for a crawl.

[cmsally]

Seriously 1m Baht will not get you anything. I am looking for a condo (only small) and can't see anything worth having for less than 2m (but will probably be considerably more to get something a bit nicer). An investment (it would be nice if value went up), rentable (don't really care as family will be living in it). For me it is worth it as otherwise I have to pay rents and hotel bills.

But it should be a buyers market at the moment and I plan on bargaining hard, that is what tipped the balance for me.

It depends on your situation really. Get to know the market before you dive in, otherwise repent at leisure.

[calibanjr.]

http://www.thaivisa.com/forum/index.php?sh...=126871&hl=

Thaipauly's no newcomer, and look what he's going through. Okay, it was a pre-construction deal, and hopefully he gets out of it whole, but just another warning sign, careful, or as I learned from Mike Brady, teaching the kids on the "Brady Bunch", caveat emptor.

[oldhand]

Gents,

Not sure the OP deserves quite the hard time you are giving him. Okay, he could spend the next 5 days trolling through TV to search out this info but he has asked for some advice. give him the advice or don't bother, but sarcastic replies don't really help much!

There are loads of condos in the 800,000 to 1,200,000 range all over Thailand but in this price range you have to look at who your tenants would be and what they can afford to pay.

Your average 1M baht condo in Bangkok would be rented to a Thai worker who would pay 4-6,000 for the rent. The same 1M in a selected unit in Pattaya could get you 6-8,000 per month from a long term farang resident. I have no idea what the same unit in Phuket would get you but I expect it may be even better than Pattaya.

There is no substitute for experience and time spent researching on the ground. Go on your first trip, enjoy it, but if you are serious about investing here then put more time into research than you do into having a party and you will have a much better chance of walking away with a good deal.

Best of Luck

[toolonginexile]

But you can't own a house over here (by virtue of the fact you cannot own the land it sits on), <snip>

Incorrect.

Praise be. JetsetBkk has discovered a way of non-Thais to own land in Thailand.

That's not what I wrote.

You cannot own the land but you can own the house.

sorry, but i think for pattaya you're a bit late if you want to invest 1 mio baht. easy to get something for that price but what is that worth (hole in concrete block), how much would people pay for it monthly and for how many months per year? good deals could be made 3,4,5 or more years ago, since then prices have doubled or more, might still look cheap to you but this is not the UK. the only developments that SEEM to go pretty well are luxury class, one million in your currency. guess that is the same all over this country, bkk or phuket even worse i guess.

i would suggest: buy a condo for yourself if you find one you like and which is worth the price asked for (take your time, look around!); rent it out if you fancy but don't expect any big returns. might look like a possible 10% return on a yearly basis (buy for 1 mio, rent for 8000 a month), but from may till at least august most condos are empty, no income. if you want to speculate on buying property and sell it in the future, ok, prices might rise even higher, but i think property prices being asked for at the moment are a bit over the top already. best idea: (after spending some money on a condo you like) put your rest money into something else (take your time, look around).

sorry but have no idea yet what is worth an investment (with low budget) and possible/ realistic. bar beer maybe ? good luck!

[lotus eater]

A Lot of foreigners have made a lot of money from land and property. The secret is have a very, very trustworty Thai behind you.

A million baht condo will be a slum. You will realisticly need 4 to 5 million baht for a condo, or, 10 million for a house if you want to make good returns from rental.

Can it be taken as a rule, currently, that the more expensive or even luxurious (say 100,000 baht/sq metre) condos offer a solid investment and good rental returns? For example the ones going up at the far end of na Jomtien - The Sails et al.?

[hhfarang]

Read other forums about living/buying in Thailand very carefully. Don't think you will love the place just because someone else does. My advice (coming from one who has lived here full time for 3 years after visiting many times over the past 25 years) is that you need to live here for a year before making that decision. You need to see all four seasons and what happens with the infrastructure during that time before you commit. We bought in a great neighborhood in a beach resort community and have had nothing but problems with the developer, sub-contractors, water (both getting it in for personal use, and keeping unwanted water out of the house and yard), electricity, road infrasturcture, and "don't give a s..t about the neighborhood" neighbors and contractors.

In the words of Elmer Fudd, "Be vewy vewy caefull"!

[esbobes]

Hi

I'm planning on visiting Thailand for the first time in August and at the same time I'm considering buying a house out there with the intention of renting in the future. I do however have a number of questions and I'd appreciate the answers of people who are currently living in Thailand (or have in the recent past) and also people already on the property ladder over there.. Or in other words, people with a personal experience of Thailand!

• What are the Visa requirements I should address before I leave the UK if I intend to buy a property over in Thailand? What is the procedure and timescale for obtaining the correct visa and can I go with a tourist Visa (or no Visa) and update the Visa when I'm there?
  
• If I buy a condo for 1 million Bhat, how much on average should it be rented it out for every month? I'm trying to figure out how quickly, on average, I can expect to recoup my investment costs and go into profit?
  
• What cut would a property management agency receive if I leave it in their hands to source potential tenants and maintain the property? Are there any specific companies you would recommend to take care of that?
  
• At the moment I'm thinking to stay for 4 months but I may stay longer. What are the limitations to my stay and are there any ways around this? I've heard about doing a "border jump" for a few days but not sure exactly how it works. If I crossed the border to Malaysia for a few days and return to Thailand would that mean my visa would refresh and could I keep doing "border jumps" to stay in Thailand indefinately? Hypothetically speaking, could I use the "border jump" method to stay in Thailand for a period of years without any backlash from the authorities?
  
• For the first 2 or 3 months I plan to rent out a one-bed room apartment with kitchen. How much should I expect to pay in Bangkok, Phuket or Pattya?
  
• What area of Thailand would you most recommend buying a property in ?
  

I have endless questions and will probably ask loads more.. I'm really looking forward to visiting and investing in Thailand, and I'd appreciate your insight and guidance..

Thanks

Guru

Great Idea please put the house in my Thai wife's Name she will be glad to help free. See has good heart