Jomtien New Condo

[grandslam]

I am considering buying or renting condo in pattaya or thereabouts hoping to live there

all the year round. Having only holidayed in samui patong etc. am hoping

that Pattaya is a cheaper prospect cost of living wise. Will be moving from the UK.

I am considering a recently advertised new develpment being built in Jomtien however

in the present climate can anyone resident in Jomtien or considering same let me have their

thoughts on moving into newly built property being an advantage as against buying or renting

existing property. Am aware of necessity of lawyers etc.

Whilst I am reticent to mention company advertising this development as may be against forum

rules I would be grateful if anyone would care to identify pitfalls or advantages on new

developments.

[Musongman]

It takes a lot of years to spend a million or more Baht on rent. You may be better off to rent and avoid considerable hassles to buy and live in your own property. Jomtien has lots of good value rentals at the moment and in the foreseeable future. Just remember, never put more into Thailand than you are prepared to walk away from...it could happen. Good luck with your quest.

[jackdawson]

You may be better off to rent

i wish i had said that

[Jingthing]

I would wait to see how the current political developments pan out, first thing. You don't want to buy into a civil war. After that, if things calm down, my feeling is that buying into an unfinished project is a high risk venture. A lot of these projects are never built and then you have a problem getting your money back, why do you think they offer such good deals? Or maybe its finished five years late, then where do you live in the meantime? IF it gets built, then you are probably a winner, deal-wise. Its worth the risk for some. Not me. I would NEVER buy an unfinished building in Thailand.

Edited May 11, 2010 by Jingthing

[BWPattaya]

I would NEVER buy an unfinished building in Thailand.

I agree, putting a deposit down on a building that may never be started, or may be finished in several years time, is a great way to risk your cash.

If you want to buy now look around. There are plenty of properties for sale.

When I bought my house it cost the equivalent of four years' rent in my previous house. I considered that anything after four years is a bonus, even if I walked away and lost the house. Having been in this house for over six years now means that I have lived here rent free for two years, if I sell it I have got all my money back, plus extra.

[grandslam]

Thank you for all replies. Giving consideration to all opinions and experiences.

[rgs2001uk]

If you cant see it or touch it dont buy it.

You will probably get a better bargain buying a condo someone is trying to sell.

Best advice I can give is come to Pattaya and rent for at least 6 months until you get the lie of the land, a feel for prices, and an idea of where in Pattaya you want to live.

[fredob43]

Buy for what reason. As you'll never sell it, then your buggered. RENT.RENT.RENT.

[Langsuan Man]

Rent till you get to know the area, it is simple as that

[PattayaParent]

Well the advantage of buying off plan is that you can pay for it over the time it takes to build.

If you buy into the same project once it's complete then you'll be paying maybe 1 million+ more and have to pay cash all at once.

Exchange rates are low now so it may be best to wait until things in Bangkok / UK / Europe have settled a bit more to see if the rates improve.

Also as you've not been to Pattaya before you'd be better off visiting and seeing what's available in the existing rental and sale markets before buying off plan, sight unseen in an area you don't konw..

I'm sure there's not a forum rule against naming the development that you're thinking of buying into if it's not a 'name and shame' issue.

[markinoc]

I had a mansion in Chiang Mai for 4 years with my Thai lover. I loved it! I sold it and we split amicably, but are still friends. That being said, I would never buy a house with a thai lover again. I would buy a condo, fee simple. You can sell it your self with a good lawyer looking over, preferably a woman, they tend to be more honest.

I will buy an older condo, so I know what it will become, not a new one that can deteriorate or have my money stolen by the developers. Good location is critical too, on a bus line.

Take your time, there are many bargains if you stay away from the crooks. Once they figure out that you are not in a hurry, the good deals will appear.

I like Pattaya and Chiang Mai, but Chiang Mai is cheaper! Also, in CM, most condos are mostly Thai owned, so you can get it in your name easy.

After owning my home in CM for 4 years, I know that if you have some freak legal problem, like hit someone with your car or have some crazy woman say you raped her, that investment can be in jeopardy. In a rare case, you might have to walk away. Very rare, but it could happen so be on your best behavior. The first sign of a problematic person, get away from them.

Also, the Thai baht tends to go down about every 15 years, so it might go down in the next few years, for more buying power.

Good Luck

[Zstarx]

Rent. If you are in any doubt just look where VT 7 has been built in front of Jomtien complex.

If you are renting and you have problems with the neighbours you can just move out at the end of your lease, slightly harder if you own the condo

[london]

You mentioned in your initial post that you have spent time in Samui and Patong.....but not Jomtien or Pattaya.

From my point of view, Patong and Samui are VERY different from Jomtien and/or Pattaya.

I agree with virtually every post before....RENT !!

You would be ill advised to buy in an area that you just don't know....let alone with all the present troubles.