Should I buy a condo or rent?

[Celsius]

Just now, bbi1 said:

Does a landlord usually pay for aircon cleaning or is this something the tenant pays for usually?

 

Landlord. My wife also paid for it when she was renting out her condo 

[transam]

21 hours ago, G_Money said:

How long is a piece of string?

 

No perfect answer for your question.  Each person’s situation is different.

 

For me renting is the answer in Thailand.  Owning only in the USA.

 

For whatever reason being able to grab my passport and walk away on short notice if needed.  PRICELESS!

 

Even forfeiting my Vespa 150 and my wardrobe.

Oh, you rent your 'luxury' flat, not yours then...........

[proton]

We would have to see some pics or know where it is and how big. 

[transam]

If you are going to live in it till you pop off, and have the cash, perhaps buy, if you're not sure about the future or area, might be best to rent, but, renting is money down the drain.

 

Saying that, my chum has a flat in Jomtien, his main residence is up country near me, he is not going to be with us much longer, been trying to sell it for a couple of years, with no luck...🤕

[Johno57]

21 hours ago, BKKKevin said:

Right now a 10 year US Treasuries give you a 4.5% return…

That translates to about 15,000 baht/month for your $125k…

My bet is any ~$4 million baht condo you find to buy will rent for less than 15,000 baht/month…

A 4 million baht condo would rent for about 20-28 thousand baht per month depending on location, age of building & furniture plus length of lease... and if not owned  there would be no capital gains when resale..

[Celsius]

9 minutes ago, Johno57 said:

A 4 million baht condo would rent for about 20-28 thousand baht per month depending on location, age of building & furniture plus length of lease... and if not owned  there would be no capital gains when resale..

 

Everything you wrote is wrong. How did you manage?

[mokwit]

54 minutes ago, bbi1 said:

Does a landlord usually pay for aircon cleaning or is this something the tenant pays for usually?

It varies, but personally if a landlord were making me pay extra to clean the aircon I would feel entitled to take it with me at the end of the tenancy.

[Skeptic7]

Rent

[john donson]

you are all so lucky

 

my home country's best bank interest is 2.5% minus taxes off course...

 

it was 0.01% for a decade after 2008

 

sadly have no connections there anymore... my money is stuck here in 2% and going down thai banks...

 

buy stock ? sp500 in usa and pay the nice world wide income tax on it

 

reading that USA stocks are highly over evaluated and a bubble is the only way to normalcy, again

[cowboys2008]

 

[cowboys2008]

After reading all the comments and watching the above video, I decided to rent. Thanks for all the comments and advice.

[Gottfrid]

7 hours ago, Albo said:

 

I guess it depends on understanding the value of things in the world 😉

Yeah, or it might just come down to something very simple. That you have enough money to move abroad. Most of the member on this forum, just don´t have that. Living on the edge and counting every baht. Sick way of enjoying retirement.

[JimTripper]

You will probably end up wanting to move around, so rent.

[scubascuba3]

Rents and purchase prices have increased dramatically since covid, back then people were still talking about those prices going down

[GypsyT]

Rent and make a deal; 100% of the rent will be deducted if you buy it later.

There are new projects which offer this already.

[henryford1958]

Simple answer if you are planning to stay long time 10 years + buy, if not rent.

[JimTripper]

17 hours ago, Albo said:

 

It's not cheap at all. The prices are cheap because you're not getting any sqm. Then consider the build of the condo and building as well as all the vagaries. Then of course the depreciation.

Actually it is "cheap", in materials & workmanship. The price is also "cheap". Go figure!

[Albo]

15 hours ago, mokwit said:

It varies, but personally if a landlord were making me pay extra to clean the aircon I would feel entitled to take it with me at the end of the tenancy.

 

I have found all landlords very good about cleaning AC without exception. Bill went direct to them. We've been in this new place about 6 months. Last month the AC went out in bedroom. The landlord had a new one installed and running in 18 hours. The apt we were in used to schedule annual cleaning and maintenance. We were there years in three different apartments. They probably totally rebuilt one if not two ac units.

[Woke to Sounds of Horking]

Only EVER buy property in Canada. It only goes up up up.  In Thailand only a fool would buy property.

[Celsius]

28 minutes ago, Woke to Sounds of Horking said:

Only EVER buy property in Canada. It only goes up up up.  In Thailand only a fool would buy property.

 

Not so sure anymore with all the tents and druggies around. I have a prime downtown location in Toronto.....unfortunately it is right accross the park and i lost over 20% since the peak. Fortunately i bought it 15 years ago so i am still up

[Woke to Sounds of Horking]

11 minutes ago, Celsius said:

Not so sure anymore with all the tents and druggies around.

Those are plants, actors, to remind everyone to toe the line.  As for your property, don't worry, Trudy and the Libs will do everything to keep property values inflated and sky high.

[FritsSikkink]

19 hours ago, Albo said:

 

Not in BKK.

 

16-19k.

 

1+1, 44-48.5swm, reasonable view, higher floor, BTS MRT.

 

I'm living in 48.5sqm, 1+1, 300m MRT. Floor 5. View unobstructed. 13k. Owner Value maybe M3.0-3.1.

I rent a 3 bedroom, TV room, dining room, separate kitchen 2 story house with garden for 25K a month.

[Johno57]

18 hours ago, Celsius said:

 

Everything you wrote is wrong. How did you manage?

This smart dude living in Canada of all places is an expert on thai rentals..like i said buddy 'depending  on the location, size & time of year ' in hua hin where i stay on the beach side, over a dozen condos range in price from 18-28 k per month, probably well above your budget price range..maybe the reason you so embarrassed to show your face ?

[Celsius]

31 minutes ago, Johno57 said:

This smart dude living in Canada of all places is an expert on thai rentals..like i said buddy 'depending  on the location, size & time of year ' in hua hin where i stay on the beach side, over a dozen condos range in price from 18-28 k per month, probably well above your budget price range..maybe the reason you so embarrassed to show your face ?

 

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.

[Brick Top]

Up to you 

[JimTripper]

7 minutes ago, Brick Top said:

Up to you 

Is not very bright though, needs assistance...

[RichardColeman]

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

[khunPer]

23 hours ago, bbi1 said:

You gotta be kidding. More like 15k baht per month to rent a $4 million baht valued property.

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.

[newnative]

23 hours ago, Celsius said:

 

not today, but when it was built in 2018 the room was selling for close to 7 million. 

 

Another reasonable reason to own is to claim it and decorate it to your own comfort and taste and avoid the stress of signing a lease. Agreed. If I was planning to die in Thailand I would just let wife buy a house and not deal with a bad condo management.

 

What irritates me here is that you truly only own your unit.... almost feels like a prison when your keycard/fingerprint lets you access only your floor and common areas. I have to fingerprint myself 8 times every time I get Grab. Once to leave the floor (my facilities are on the same floor I live), once to take me to ground floor, once to exit the elevator lobby (or garage) once to exit the building. Repeat on the way back.

 

I am surprised they didn't install fingerprint to open a garbage chute.

Be glad they are doing that.  It should help cut down on illegal daily renters.

[mokwit]

7 minutes ago, newnative said:

Be glad they are doing that.  It should help cut down on illegal daily renters.

Vermin control is important in condo buildings.