Real Estate Rules-who Knows The Truth

[simcity]

Cipher, will it be stupid to see this scenario?

Your wife borrow the money to the bank 80-90 %

You deposit a large sum of money into your OWN account name at the bank or better you buy gold lingo, and have the bank to hold them (bank can see guaranty)

You only paid interest year after year!

You losing yourself the capital gain, it will be in your wife name, but you are not sure how things will turn up anyway!

You let the bank holding the title; you sleep at night knowing you can pull out anytime.

perhaps a lifetime usufruct can shortness your life

[ACMIKE]

I agree with renting to the point in which you know more about the area you want to live in. If you plan on being in Thailand for 20 years or more buying a property is the better way to go from a financial standpoint. I have run the figures over and over and it makes no sense to rent for a long period of time. Sooner or later rents will escalate at a greater rate than the past few years, even if you don't agree with this do you want to take the chance that you will only be able to live in a studio because that is all you can afford. I have seen many posts which state renting is better, but in no way does it make sense over the long haul.

Most likely the people saying rent are those that are scraping by in Thailand. I read a post the other day where someone was visiting and had 10,000 dollars to spend over 6 months and he couldn't figure out why Thailand was so tough on visas when he was going to help the economy. Get real, 10,000 dollars over 6 months, too many people like this trying to live in Thailand and also giving advice.

I apologize for going off on a tangent here (more like 2 or 3 tangents).

While I am on a soapbox, for you living around Pattaya, pick up the Pattaya Trader, great article on why visas are difficult for some in Thailand.

[LivinLOS]

I agree with renting to the point in which you know more about the area you want to live in. If you plan on being in Thailand for 20 years or more buying a property is the better way to go from a financial standpoint. I have run the figures over and over and it makes no sense to rent for a long period of time. Sooner or later rents will escalate at a greater rate than the past few years, even if you don't agree with this do you want to take the chance that you will only be able to live in a studio because that is all you can afford. I have seen many posts which state renting is better, but in no way does it make sense over the long haul.

Most likely the people saying rent are those that are scraping by in Thailand. I read a post the other day where someone was visiting and had 10,000 dollars to spend over 6 months and he couldn't figure out why Thailand was so tough on visas when he was going to help the economy. Get real, 10,000 dollars over 6 months, too many people like this trying to live in Thailand and also giving advice.

OK explain this..

28 million baht villa.. Rented for 70k per month.. +- 3% and they had to maintain it !!! It had huge amounts of maintenance for a seaview place.

My money offshore has done 35% or so last year.. If that 28m is brought into Thailand and spent on property I dont get that return. So I 'lose' 10m in possible profits to buy a place I rented for 840k !!

Lastly the retaining wall was undermined by a Thai developer causing a landslide and destroying the villa. You cant get landslide insurance, and the Thai developer has it tied up in a court case the farang owner will never get a baht from (It actually damaged 2 villas so he lost 50m or so on his thai real estate 'investment').. Me I just rented a new place.

My money is offshore, working hard, getting good real returns and paying rents. Others can have Thai real estate headaches.

Edited February 10, 2008 by LivinLOS

[think_too_mut]

...

Edited February 10, 2008 by think_too_mut

[Livinginexile]

I am going to move to Thailand in a couple of years if I can get this information straight. It appears as though this is just opinion and nobody actually knows the truth about Farangs owning a place to live…including the government officials.

Here is the question:

I am married to Thai and need to own a place to live in Thailand. I do not have a problem with my wife or her sixteen year old daughter, today, but things change. If my wife were to die, I am told that the property would go to the daughter. If this happens many years from now when I am 80 years+, what happens to me?

When you are young, things are simple, but when I get old, I do not want to be out in the street penniless in Thailand. What can be done to safeguard our safety? I have tried the company route twice and every time “Paid too much” for the Lawyers and ended up with a non functioning company that is going to cost me another 15,000 baht to close it down.

Thailand is wonderful at coming up with ways and services to part Farangs from their money, but I have never seen any Thai actually provide a professional service in any form. Now, before I hear “if you don’t like the place…go home”, I need to solve this dilemma or that is exactly what I am going to do.

It's very simple really...

You can own a condo but you can't own land.

If you want to own land it's got to be in your wife's name.

If things turn pair shaped she gets everything.

If you truely trust her then go ahead and buy land in her name and build a house.

If not...then buy a condo in your name and she will only get half.

Basically thats it!!

Good luck

[dotcom]

Hey cipher. I would try & advise you but you call posters "idiots" & the moderators don't pull your bs down.

So you can plod along in ignorance - just as you were doing before you came here.

[ACMIKE]

I agree with renting to the point in which you know more about the area you want to live in. If you plan on being in Thailand for 20 years or more buying a property is the better way to go from a financial standpoint. I have run the figures over and over and it makes no sense to rent for a long period of time. Sooner or later rents will escalate at a greater rate than the past few years, even if you don't agree with this do you want to take the chance that you will only be able to live in a studio because that is all you can afford. I have seen many posts which state renting is better, but in no way does it make sense over the long haul.

Most likely the people saying rent are those that are scraping by in Thailand. I read a post the other day where someone was visiting and had 10,000 dollars to spend over 6 months and he couldn't figure out why Thailand was so tough on visas when he was going to help the economy. Get real, 10,000 dollars over 6 months, too many people like this trying to live in Thailand and also giving advice.

OK explain this..

28 million baht villa.. Rented for 70k per month.. +- 3% and they had to maintain it !!! It had huge amounts of maintenance for a seaview place.

My money offshore has done 35% or so last year.. If that 28m is brought into Thailand and spent on property I dont get that return. So I 'lose' 10m in possible profits to buy a place I rented for 840k !!

Lastly the retaining wall was undermined by a Thai developer causing a landslide and destroying the villa. You cant get landslide insurance, and the Thai developer has it tied up in a court case the farang owner will never get a baht from (It actually damaged 2 villas so he lost 50m or so on his thai real estate 'investment').. Me I just rented a new place.

My money is offshore, working hard, getting good real returns and paying rents. Others can have Thai real estate headaches.

[ACMIKE]

I agree with renting to the point in which you know more about the area you want to live in. If you plan on being in Thailand for 20 years or more buying a property is the better way to go from a financial standpoint. I have run the figures over and over and it makes no sense to rent for a long period of time. Sooner or later rents will escalate at a greater rate than the past few years, even if you don't agree with this do you want to take the chance that you will only be able to live in a studio because that is all you can afford. I have seen many posts which state renting is better, but in no way does it make sense over the long haul.

Most likely the people saying rent are those that are scraping by in Thailand. I read a post the other day where someone was visiting and had 10,000 dollars to spend over 6 months and he couldn't figure out why Thailand was so tough on visas when he was going to help the economy. Get real, 10,000 dollars over 6 months, too many people like this trying to live in Thailand and also giving advice.

OK explain this..

28 million baht villa.. Rented for 70k per month.. +- 3% and they had to maintain it !!! It had huge amounts of maintenance for a seaview place.

My money offshore has done 35% or so last year.. If that 28m is brought into Thailand and spent on property I dont get that return. So I 'lose' 10m in possible profits to buy a place I rented for 840k !!

Lastly the retaining wall was undermined by a Thai developer causing a landslide and destroying the villa. You cant get landslide insurance, and the Thai developer has it tied up in a court case the farang owner will never get a baht from (It actually damaged 2 villas so he lost 50m or so on his thai real estate 'investment').. Me I just rented a new place.

My money is offshore, working hard, getting good real returns and paying rents. Others can have Thai real estate headaches.