Is it better to buy or rent property in Thailand as an expat?

[1FinickyOne]

On 8/26/2024 at 10:48 AM, Conan The Barbarian said:

I have been planning to buy a condo but wanna know where I can get the best ROI 

renting condos is a business requiring active participation and often problem salving and fixing as well... if you want ROI try the S&P 500... you will be better off in the long run with far less aggravation... 

[edwardflory]

We rent.  I am 79, she is 58.

 

Why should I buy when I RENT a 2BR UNFURNISHED ( she chose furniture) house in KORAT for a average of $128.00USD ( see 3rd paragraph ) monthly in a gated community with friendly neighbors and a great soi dog, 4 major stores and Immigration 15 or less minutes away, a natural fishing lake ( free) 2 minutes away.

 

One 20 minute round trip ( 260bt by grab ) to "downtown" monthly to the bank to transfer monies. We have a electric tricycle for  'local' shopping travel.

 

WIFE owns unfurnished house and farm land in her home village - over 1 1/2 hours, and over the mountains, from any city in the middle of BFE. We also have a condo in BKK area she can sell - we stay there when visiting BKK.

 

When I pass, she has KORAT furniture for her house in BFE, and money from the condo sale along with retirement monies.

 

[scubascuba3]

1 hour ago, edwardflory said:

We rent.  I am 79, she is 58.

 

Why should I buy when I RENT a 2BR UNFURNISHED ( she chose furniture) house in KORAT for a average of $128.00USD ( see 3rd paragraph ) monthly in a gated community with friendly neighbors and a great soi dog, 4 major stores and Immigration 15 or less minutes away, a natural fishing lake ( free) 2 minutes away.

 

One 20 minute round trip ( 260bt by grab ) to "downtown" monthly to the bank to transfer monies. We have a electric tricycle for  'local' shopping travel.

 

WIFE owns unfurnished house and farm land in her home village - over 1 1/2 hours, and over the mountains, from any city in the middle of BFE. We also have a condo in BKK area she can sell - we stay there when visiting BKK.

 

When I pass, she has KORAT furniture for her house in BFE, and money from the condo sale along with retirement monies.

 

At your age pointless buying 

[edwardflory]

"""At your age pointless buying""".  

 

IF a person is over 65, agree with you 100%,

UNLESS

you get married and want to leave a home, assets, $$$ and etc to her.

 

We have 3 homes. 2 of the 3 "we" own. We live in the KORAT rented house because of the LOCATION:

Ease of MY BANKING at the malls, HOSPITALS and LOCAL, near the house SHOPPING and very 'close' to a major city, but away from the noise.

 

In her home village, there are basically 2 mom & pop stores - NO Petro ( gas ) station, street lights or 'junk' food delivery.

 

Amen!!

[Justanotherone]

4 hours ago, 1FinickyOne said:

renting condos is a business requiring active participation and often problem salving and fixing as well... if you want ROI try the S&P 500... you will be better off in the long run with far less aggravation... 

 

 

might be in a big surprise this year when it drops 60-70% as predicted by some 'professionals' that saw 2008 before it happened

[crazykopite]

I rented for four years before taking the plunge to buy still here 20 years later !

[newbee2022]

On 8/26/2024 at 10:48 AM, Conan The Barbarian said:

I have been planning to buy a condo but wanna know where I can get the best ROI 

ROI??? I doubt it. Better save your money and invest eg in Doge coins🤣

[newnative]

3 hours ago, edwardflory said:

We rent.  I am 79, she is 58.

 

Why should I buy when I RENT a 2BR UNFURNISHED ( she chose furniture) house in KORAT for a average of $128.00USD ( see 3rd paragraph ) monthly in a gated community with friendly neighbors and a great soi dog, 4 major stores and Immigration 15 or less minutes away, a natural fishing lake ( free) 2 minutes away.

 

One 20 minute round trip ( 260bt by grab ) to "downtown" monthly to the bank to transfer monies. We have a electric tricycle for  'local' shopping travel.

 

WIFE owns unfurnished house and farm land in her home village - over 1 1/2 hours, and over the mountains, from any city in the middle of BFE. We also have a condo in BKK area she can sell - we stay there when visiting BKK.

 

When I pass, she has KORAT furniture for her house in BFE, and money from the condo sale along with retirement monies.

 

   'We rent', you say.  But, then you say, 'We also have a condo in BKK area she can sell'.  So, actually, you rent but you and your wife also own property here.  Which, I think, is a good thing because, as you also say, when you pass your wife has the option of selling the condo and getting some 'money from the condo sale'.  Same with me.  When I pass my spouse will also have property we own here--to use for himself or to sell should he need the money.  

[Suitcase]

On 8/26/2024 at 7:14 PM, steven100 said:

 

does 400+  include the cockroaches & bedbugs or are they extra  ? 

Outside of Bangkok there are hundreds of brand new hotels that rent for 500 to 700 per night

[steven100]

1 hour ago, crazykopite said:

I rented for four years before taking the plunge to buy still here 20 years later !

sorry for your loss ....  one can only research so much I guess

[steven100]

5 hours ago, edwardflory said:

and a great soi dog

 

you lost me at this point 

[black tabby12345]

Renting is far more stress free.

It also gives you more freedom.

What if you may got tired of here(for some reasons) in any future?

If you are just paying month to month, you can move as soon as you change your mind.

 

But once you buy one, it will make a shackle of your life.

It simply creates more otherwise needless concerns.

 

[KhunLA]

9 hours ago, black tabby12345 said:

Renting is far more stress free.

It also gives you more freedom.

What if you may got tired of here(for some reasons) in any future?

If you are just paying month to month, you can move as soon as you change your mind.

 

But once you buy one, it will make a shackle of your life.

It simply creates more otherwise needless concerns.

 

That really does depend on your age, and finances, along with, what happens next.

 

Me, lucky to retire early, so knew I wanted a base, to live, while exploring this new country for living area options.  My style, always cheaper to buy in, IF, knowing you'll be there  for about 5 yrs.

 

At worse, selling at cost price, and your ROI, is rent you avoided paying for 3-5 yrs.  No great loss buying in.

 

1st house, actually lived there about 7 year.  And the what happens next, unexpected, took in the village orphan.  So new plan, as I knew I'd be here for another 10 ish years.

 

Not a fan of the hood, so sold 1st house, and rented for 3 years, while recon for land and building new house.  Then lived there for 7 years.  

 

Already about 17 yrs in country, so yea, need to retire younger for that plan.

 

Daughter graduates, knowing I don't want to live in that province, bought land elsewhere, way south of, before she even graduated, while on one of our O&A (out & abouts).

 

Rented in that area, for almost 3 yrs, while selling 2nd house, and while deciding if wanting to live there as final resting place.  Then built 3rd & final house, with added cost of solar, knowing it will be the final house.

 

If retiring at 66, like govt wanted me to, then NO, would not buy in.  Renting is the way to go, unless you really know, you are going to stay put, with first purchase.

 

Knowing my past living habit, never 2 or 3 years in any one house, and now living in foreign country I only visited once, I knew that wasn't going to happen.

 

Don't burn your bridges to mother land, (liquidate) unless you know (I did) that you will never return.  Where many fail, and spend their equity that they built up for 30-40 yrs, then realize ... oops, I didn't think this through ... F'me, now what 

[newnative]

8 hours ago, black tabby12345 said:

Renting is far more stress free.

It also gives you more freedom.

What if you may got tired of here(for some reasons) in any future?

If you are just paying month to month, you can move as soon as you change your mind.

 

But once you buy one, it will make a shackle of your life.

It simply creates more otherwise needless concerns.

 

      Spouse and I have not found owning here to be a 'shackle' on our lives.  And, we are apparently restless, move at the drop-of-a-hat types.  We arrived in Thailand in 2009 and started in Rayong.  Bought one condo, lived in it for awhile, then bought another one.  After a time, we decided we wanted to live in Pattaya so we sold the second Rayong condo and moved to Pattaya in December 2010.

       Since our move to Pattaya, we have hopscotched all over town, always owning wherever we moved and selling when we got restless and wanted to try living somewhere else.  We started at View Talay 3 and our last condo we owned was at Northshore--with 9 stops at different condo projects between those two--if I have counted correctly.

       When covid hit, the condo's pool and gym closed down.  We decided it was time for another change so we sold our 1 bedroom 1 bath condo with a gorgeous ocean and shore view and we decamped to the Darkside--which we had hardly ever visited and knew little about. 

       We bought a large 3 bedroom 3.5 bath pool villa right across from Lake Mabprachan in a nice housing project.  After buying and renovating it, we still had 500,000 baht left from our Northshore sale.  So, big pool villa for less than a 1 bedroom condo.  As I have said before, real estate is topsy-turvy here.   Lived in the house for awhile, got restless, sold it, and bought another pool villa on the other side of the lake. 

      Fixed that one up, lived in it for awhile, and then decided we would try our hand at building a house from the ground up, so we could design everything from the get-go to accommodate and highlight our antique Asian furniture and art.  The first house turned out quite well and rapidly increased in value once the project was finished.   Bought one of the last vacant lots in the same project and last year built a bigger version of the first house, with one more bedroom and bath and a bigger master bedroom and Thai kitchen, while selling the other house. 

      And, that's where we are--for now.  We are loving living on the Darkside and, especially the beautiful Lake Mabprachan area.  We like having our own pool and home gym, and enough space for family to visit.  We also like having an EV charger in the garage for our plug-in hybrid suv.   Non-rush hour, it's an easy 15 minute drive to T21, Central Festival, Index, Home Pro, the hospital, and everything else around there.  We can also be at Big C South Pattaya in 15 minutes--with no traffic lights until we hit the shopping center.

     By my count that's 15 moves, about one a year.  Several of our friends also own, and have also sold and moved to other places they have bought.  But, I think we hold the record as frequent fliers, err, buyers.