Old condo buildings in Pattaya. Do you live in one?

[Liverpool Lou]

5 hours ago, Henryford said:

Makes you wonder when these 30/40/50 story condos get older and their lifts don't work. How will the people living at the top manage?

The lifts will be fixed, they don't leave them unrepaired for ever!

[arick]

Just now, Liverpool Lou said:

The lifts will be fixed, they don't leave them unrepaired for ever!

That's why you would never buy a condo in Thailand why would you buy a condo you'd have to live for 30 years in that condo even to break even with your money back just rent

[pomchop]

20 hours ago, scubascuba3 said:

VT6 should have replaced it's lifts by now, maybe they struggle to to raise the money as it's circ 4m per lift

 

Have stayed in vt 6 for over a year.  Never had any serious problem with the elevators. 

 

Every building with elevators likely every now and then has a glitch.  IMO vt6 is a very well constructed and maintained building ...in fact i have been pleasantly surprised at how well the elevators in vt 6 work in spite of very heavy use.

 

.i have been in at least 5 of the 13 or so view talay buildings around pattaya/jomtien and every single one of them appears to be well constructed, maintained, and managed.

 

 

[Irish star]

19 hours ago, scubascuba3 said:

I live in a condo 30 years old, well maintained but that's because at last few AGMs there's been votes to give extra supplementary fees, plus raise common fees, plus good management now.

 

Certainly don't buy in a place poorly maintained. As for lifts, I chose a lower floor, same price as higher floor but can use the stairs if lifts are busy 

We don’t like mosquitoes 

[lexxy]

54 minutes ago, arick said:

Horrible old Talay buildings.  Get out go somewhere else 

??

53 minutes ago, arick said:

Bull <deleted> rent at 20k it 30k I paid 6000 for a room last year was t worth more then that 

???

53 minutes ago, arick said:

Your talking out some offices of your body you will never get your back your money back after you even after you die and your grandchildren die

????

 

You have really lost your sh&t cooped up in that 6k premium room

[scubascuba3]

35 minutes ago, Irish star said:

We don’t like mosquitoes 

Myth about mosquitoes at lower floors, I'm on 4th and they are rare, depends on condo and area around

[bradiston]

1 hour ago, arick said:

That's why you would never buy a condo in Thailand why would you buy a condo you'd have to live for 30 years in that condo even to break even with your money back just rent

You're doing the wrong calculations. Ok, let's say 1m to buy. 10 years later, maybe 500k to sell. So it's cost you 500k. Plus annual fees. 10 years rent @ 12k pm minimum, averaged out on your 6k. 1.44  million over 10 years in rent. You're down 940k.

 

Moral. Don't look to getting all, or even any, of your money back. Living a decent life costs money, most of which you won't see back. But hey, that's life. Enjoy it while you can.

[lexxy]

9 minutes ago, bradiston said:

You're doing the wrong calculations. Ok, let's say 1m to buy. 10 years later, maybe 500k to sell. So it's cost you 500k. Plus annual fees. 10 years rent @ 12k pm minimum, averaged out on your 6k. 1.44  million over 10 years in rent. You're down 940k.

 

Moral. Don't look to getting all, or even any, of your money back. Living a decent life costs money, most of which you won't see back. But hey, that's life. Enjoy it while you can.

 

How do you even think property has dropped 50% in 10 years when i can assure you that from what ive seen in 10 years property is up about 50%.

 

Based on the condo i stay

Renting for 10 years - 25k THB is 3m thb

Owning for 10 years - 4.4mthb + 440k in fees + special levy of 100k total 5m thb ( Property value now 6.5m thb)

 

I just dont understand what you mean by dont look at getting any of your money back? I could sell now for 6m thb firesale and come out 1 million baht in front for the last 10 years or 4m thb better off than if i was to rent here.

 

[Henryford]

1 hour ago, arick said:

That's why you would never buy a condo in Thailand why would you buy a condo you'd have to live for 30 years in that condo even to break even with your money back just rent

 

I bought mine 17 years ago and i think i broke even about 7 years ago. So not only am i living rent free for ever i have a valuable asset i own. Renting is a mugs game.

[bradiston]

6 minutes ago, lextsy said:

 

How do you even think property has dropped 50% in 10 years when i can assure you that from what ive seen in 10 years property is up about 50%.

 

Based on the condo i stay

Renting for 10 years - 25k THB is 3m thb

Owning for 10 years - 4.4mthb + 440k in fees + special levy of 100k total 5m thb ( Property value now 6.5m thb)

 

I just dont understand what you mean by dont look at getting any of your money back? I could sell now for 6m thb firesale and come out 1 million baht in front for the last 10 years or 4m thb better off than if i was to rent here.

 

Well, that just re-enforces my argument. I've also calculated it's worth buying, but not using your figures. Why have a go at me? I'm just not expecting to see any appreciation on a 30 year old 1m THB studio apartment, after 10 years. However, if you want to make me an offer, I'll take any in the region of 1.5m, payable in 10 years.

 

And your place is only worth what somebody's prepared to pay. 6.5m buys a very decent amount of brand new property. The market's awash.

[scubascuba3]

There is a new downside to owning property here, potentially to avoid tax people might need to leave the country for 180 days 

[noobexpat]

2 hours ago, lextsy said:

 

3 brand new lifts (completely new rails and everything) in a 23 story building cost 100k baht as my special levy (on 100sqm condo).

These lifts are estimated to last 30 years. In the same turn this condo in 2014 was 4.4m (estimated rent 25-30k pm).

I have been here 10 years and estimated value is 6.5m and rent 30-35k.

 

Glad im renting statements dont really equal the math. (Approx spent 5m thb in 9 years on ownership with no rent and 6.5m asset) where renting would be 3mb spent with no asset

 

5m in s&p500 (total return)over last 9 years would give 12.85m, less 3m in rent you would have paid, equals 9.85m. 

 

You now have a 6.5m condo. About the same as a cheap UK council house, but they are easier to sell.

 

You never heard of opportunity cost? 

[noobexpat]

I expect to quadruple my investments in 20 years. You only need modest growth p.a. Far less than the likes of s&p has returned.

 

4^(1/20)

[bradiston]

1 hour ago, noobexpat said:

I expect to quadruple my investments in 20 years. You only need modest growth p.a. Far less than the likes of s&p has returned.

 

4^(1/20)

I think you're confusing liabilities and assets. This isn't London.

[noobexpat]

Just now, bradiston said:

I think you're confusing liabilities and assets. This isn't London.

 

Global stockmarket, not property.

[bradiston]

21 minutes ago, noobexpat said:

 

Global stockmarket, not property.

Ah, apologies

[lexxy]

1 hour ago, noobexpat said:

 

5m in s&p500 (total return)over last 9 years would give 12.85m, less 3m in rent you would have paid, equals 9.85m. 

 

You now have a 6.5m condo. About the same as a cheap UK council house, but they are easier to sell.

 

You never heard of opportunity cost? 

 

Buying a condo here is not a financial decision, Its a lifestyle choice. I have made my money already which is why im here. Even the richest people in the world own homes everywhere left unoccupied why? if they listened to you they would be renting in soi 15 for 12000 a month while pumping everything into the stock market? just stupidity and shows how useless you are as a human being.

[NextG]

5 minutes ago, lextsy said:

 

Buying a condo here is not a financial decision, Its a lifestyle choice. I have made my money already which is why im here. Even the richest people in the world own homes everywhere left unoccupied why? if they listened to you they would be renting in soi 15 for 12000 a month while pumping everything into the stock market? just stupidity and shows how useless you are as a human being.

A claimed 22,000 per month and rising….with his blessing. 

[Toby1947]

Wouldn't give you 50 baht for one, 🤣😂🤣

[noobexpat]

28 minutes ago, lextsy said:

 

Buying a condo here is not a financial decision, Its a lifestyle choice. I have made my money already which is why im here. Even the richest people in the world own homes everywhere left unoccupied why? if they listened to you they would be renting in soi 15 for 12000 a month while pumping everything into the stock market? just stupidity and shows how useless you are as a human being.

 

This forum and its people. The hatred is unbelievable. Amusing how upset they get though.

 

You don't spend the equivalent of 10k a month for the next 5 years on a visa, to only live in a 12k month condo, eh genius? Well i don't anyway.

 

Sorry you are 3m down, i know its a lot for you at your age.

On the bright side, you will never crystallise that loss cus it'll probably never sell.

[noobexpat]

41 minutes ago, NextG said:

A claimed 22,000 per month and rising….with his blessing. 

 

When £500 a month is a big deal. Its just tragic that you even doubt it. Can earn more in a day!

 

[NextG]

3 minutes ago, noobexpat said:

 

When £500 a month is a big deal. Its just tragic that you even doubt it. Can earn more in a day!

 

No one but you stated that it was a big deal 🤭 That’s why I know about it. You’ve told us, proudly ☺️
Not about doubt. It’s simply your statement. I cannot speak for you, so have to write that it was your statement. Got it?

[NextG]

14 minutes ago, noobexpat said:

 

This forum and its people. The hatred is unbelievable. Amusing how upset they get though.

 

You don't spend the equivalent of 10k a month for the next 5 years on a visa, to only live in a 12k month condo, eh genius? Well i don't anyway.

 

Sorry you are 3m down, i know its a lot for you at your age.

On the bright side, you will never crystallise that loss cus it'll probably never sell.

The amount that you spend to look at your neighbour sitting across from you has nothing to do with how much you spend on your visa. Both actions spell M U G. Up to you. 

[noobexpat]

Just now, NextG said:

Both actions spell M U G. Up to you. 

 

I don't care if you're low budget, but my god you are seething that i'm not.

Look at what you write. You're an old man full of hate. 

 

[Celsius]

8 hours ago, lextsy said:

Maintanence does exist, you just need good building managers.

One of the oldest condos in Pattaya maintained vey well.

 

External painted, New Disabled lift outside, 3 new lifts inside, new this and that (fire pump, transformers etc)

 

https://www.pattaya-hill-resort.com/

 

 

 

 

 

"They were well past their life expectancy" so they just replaced them.... 

 

 

And people call this great management.

 

Do you even hear yourself?

 

It also seems like View Talay is junk, just like I expected, but no ona admitted because they probably bought a unit or two and need to pass it to a greater fool.

 

 

555

[scubascuba3]

Just now, Celsius said:

 

"They were well past their life expectancy" ans they just replaced them.

 

 

And people call this great management.

 

Do you even hear yourself?

 

It also seems like View Talay is junk, just like I expected, but no ona admitted because they probably bought a unit or two and need to pass it to greater fool.

 

 

555

If you had experience of how other condo blocks are run you might agree it's great management.

 

You do seem very negative about Thailand, is that because you're leaving?

[Celsius]

Just now, scubascuba3 said:

If you had experience of how other condo blocks are run you might agree it's great management.

 

You do seem very negative about Thailand, is that because you're leaving?

 

No. I like to state the facts.

[scubascuba3]

1 minute ago, Celsius said:

 

No. I like to state the facts.

No facts in your statement. Many condo blocks don't have good lifts and are poorly maintained, that's a fact

[Celsius]

1 minute ago, scubascuba3 said:

No facts in your statement. Many condo blocks don't have good lifts and are poorly maintained, that's a fact

 

So.... me being negative about condos in thailand is not because I am leaving, but because condos in Thailand are crap.

[NextG]

11 minutes ago, noobexpat said:

 

I don't care if you're low budget, but my god you are seething that i'm not.

Look at what you write. You're an old man full of hate. 

 

Not old ☺️ and I most certainly live in a much nicer place than you do.