Should I buy a condo or rent?

[Hummin]

8 years ago I was looking for appartment around 8 million, but there was so many fouls or details I found that constantly put me off from finalize a buy. Insted we escaped the ity during covid, and built a small farm for less than a quarter of the price I was willing to invest. Now I have other plans than staying in Thaland for the next 10- 15 years and happy I did not invest. 

 

My idea when building in Isaan was intil last spring, was to stay in Isaan to I was around 70, but as we go, e make new experiences, and we tend to make new decisions, or with we could. 

 

Most important, do not invest more than you are willing to leave behind you, there is thousands of prospects available for sale, while some moving faster than others, others do not sell att all, and even worse, very fee is willing to pay marked price to rent.

Edited 21 hours ago by Hummin

[ChipButty]

We bought a condo 8 years ago here in Phuket and paid 5.9 million baht, I would be lucky to get my money back, the only saving grace it has been a superb rental unit,

The property is still in good condition the management do a good job of taking care of the place and the pools, 

[Johno57]

12 hours ago, Celsius said:

 

You wrote that a 4 million baht condo rents out for 28,000 baht a month. Maybe in your dreams when a real estate agent aka bargirl told you so.

 

You said there is no capital gains when you resale. That one piece of advice must have come from a ladyboy.

 

You pay tax when you sell condo even if you sell for a loss.

 

Go back to bar.

Mate I don't need bargirls like you, cause I have a gorgeous wife, as I said on the beach side  in huahin condos to rent at 28k, not that I would pay that, as I have my own condo,and if you did some research you would find after 5 years owner ship ther is no capital gains tax payable, but cannot argue with fools as its a no win situation.. 

[henryford1958]

16 hours ago, RichardColeman said:

You want to buy a condo in a place that you cannot legally be a permanent resident and live daily at the beck and call of any new thai laws ? Go ahead, its your money. Would I ever sell my UK house and buy here ? Not a chance, I may be foolish but I am not an idiot. 

 

My advice would always be buy a property in your home country if you can and rent it out for both income and a safe haven if it all goes bits up here

 

I bought a nice 100 sqm apartment near the sea with pool and covered parking for 50,000 GBP. Please tell me where in the UK (if that's your home country) i can buy the same. In Brighton it would be about 600,000 GBP.

 

Edited 5 hours ago by henryford1958

[Hummin]

On 11/25/2024 at 5:42 PM, Celsius said:

 

Everything you wrote is wrong. How did you manage?

A 4 million baht condo would rent for 5% a year maximum if location was right. We talking long term rental, and not high season short term rent.

 

 

[Celsius]

7 hours ago, Johno57 said:

Mate I don't need bargirls like you, cause I have a gorgeous wife, as I said on the beach side  in huahin condos to rent at 28k, not that I would pay that, as I have my own condo,and if you did some research you would find after 5 years owner ship ther is no capital gains tax payable, but cannot argue with fools as its a no win situation.. 

 

Your wife must be a "real estate agent"

[Hummin]

19 hours ago, khunPer said:

Rent is typically in the area between 8% and 12% of the investment; Average 10% of 4,000,000 is 400,000 baht/12 = 33,333 baht per month.

 

You cannot use an asked re-sale price for percentage calculation, it's a dream of capital gain and many properties are finally sold with a discount.

 

Now, if mortgage interest i around 6%, and you calculate a condo as business for the owner that rents it out, minimum 8% makes sense; location and market will increase the price. Some properties in prime locations are rented out for more than 12% the initial investment.

That's a dream to rent out for 12% of marked value, and not representiv for the long term average marked. Thumb of rule is 5%