House In Chiang Mai

[drummond4404]

Does anyone have advice about buying a house in chiang mai. I would like to know the experience of any british family who has emigrated to Chiang Mai with a thai wife and child, as that is my situation. I have enough income /pension to live in Thailand and buy a nice home in Chiang Mai, what risks/pitfalls do I need to be aware of. Any advice from someone who has done the same thing would be great.

Thanks

[sbk]

moving to Chiang Mai forum since you are asking about Chiang Mai real estate

[anonymouse]

I'd suggest you spend a while renting in CM first and also take into account where your child is going to be schooling.

[drummond4404]

I'd suggest you spend a while renting in CM first and also take into account where your child is going to be schooling.

Thanks for your post , do you live in Chiang Mai. I hope to get some information about pitfalls. I know estate agents will tell me how wonerful it is. I intend to rent a house for a year before buying.

[anonymouse]

I'd suggest you spend a while renting in CM first and also take into account where your child is going to be schooling.

Thanks for your post , do you live in Chiang Mai. I hope to get some information about pitfalls. I know estate agents will tell me how wonerful it is. I intend to rent a house for a year before buying.

I'm in the UK at the moment, but have a wife, kids and house in Chiang Mai. I'd suggest posting in the real estate forum for pitfulls in buying properties in Thailand.

Renting for a year is a good idea.

My wife and I have purchased two properties in Chiang Mai over a 8 year period and have had no real problems.

ps I noticed one of the moderators has moved your topic, if it was already in the real estate forum. I'd suggest you add a new topic ommiting the Chiang Mai reference

Edited September 24, 2010 by anonymouse

[Beetlejuice]

I can tell you everything you want to know if you are interested.

If you could pm me, I will give you my phone number. I`m not selling or promoting anything, just good advice that may help you, because I`m a nice guy.

Edited September 24, 2010 by Beetlejuice

[Soulwy]

I can tell you everything you want to know if you are interested.

If you could pm me, I will give you my phone number. I`m not selling or promoting anything, just good advice that may help you, because I`m a nice guy.

You are indeed a nice guy, who gave me my first laugh today!

[philliphn]

I can tell you everything you want to know if you are interested.

If you could pm me, I will give you my phone number. I`m not selling or promoting anything, just good advice that may help you, because I`m a nice guy.

Beetlejuice, Beetlejuice, Beetlejuice!

[nikster]

I'd suggest you spend a while renting in CM first and also take into account where your child is going to be schooling.

Thanks for your post , do you live in Chiang Mai. I hope to get some information about pitfalls. I know estate agents will tell me how wonerful it is. I intend to rent a house for a year before buying.

Right - stick to that plan and in the year you're renting you get to know CM and will know much more about what and where you want to buy.

Location would be my main concern, CM is pretty big and stretched out, lots of different options, and in order to choose you kind of have to know the city a little bit. I don't think there are any "pitfalls" per se, well the land isn't in your name as you undoubtedly know. Then there's new homes in moo baans, new-ish homes in moo bans, buying land and building your own, etc.

Land prices seem to drop with distance from the old town, going from very high to very low the further out you go. It's a sign of a pretty mature market that the prices are literally getting cheaper with every km distance.

[batami]

please pm me; i have been here 5 years and "bought" in the market some years back. Can offer you some perspectives which you can add to all the other feedback ... regards B

[wehugheog]

PM me for sound advice about owning a house AND the land.

Please do not post comments about not being able to own the land, you can legally!

Otherwise good advice from Nikster!

Edited September 26, 2010 by wehugheog

[MartinBKK]

Not wishing to hijack the thread but i am wanting to sell my house in CM.

I am clueless as to the selling process but if someone could recommend me a good agent and provide an appromoximation of their fees i would be very grateful.

Martin

[gotlost]

Not wishing to hijack the thread but i am wanting to sell my house in CM.

I am clueless as to the selling process but if someone could recommend me a good agent and provide an appromoximation of their fees i would be very grateful.

Martin

Start hear. Standard rate is 3% for sale.

http://www.houseinchiangmai.net/

http://www.jasminehomes.co.th/

http://www.chiangmaihouse.com/

Edited September 29, 2010 by gotlost

[gotlost]

Not wishing to hijack the thread but i am wanting to sell my house in CM.

I am clueless as to the selling process but if someone could recommend me a good agent and provide an appromoximation of their fees i would be very grateful.

Martin

Start hear. Standard rate is 3% for sale.

http://www.houseinchiangmai.net/

[MartinBKK]

Thanks gotlost. Have sent a few emails.

[LivinLOS]

PM me for sound advice about owning a house AND the land.

Please do not post comments about not being able to own the land, you can legally!

Otherwise good advice from Nikster!

Please explain.. After 10 years here I have never heard a LEGAL way to do this, quite a few work arounds, but legally ??

[Thighlander]

Loan lawyer the money. They buy in their name. They will give you a will saying if they die, you will inherit the house ( and have a limited time to liquidate), you will get a prepaid 30 year lease at a rate as low as the land office will allow. In my case it was 500,000 for 30 years. You will pay 1% tax on that in addition to other transfer fees. My lawyer now works for sunbelt. I paid her about 10,000 to buy, and about 12,000 to sell. Setting up a company is for developers. I probably would not do it again, but would buy a condo. House prices have been flat in CNX for years. I bought from a thai couple, and lowballed, they had been transferred. Otherwise I would have lost money when I sold. The thais aren't going to buy a house from a farang.

[jayinoz]

Interesting that you loan the lawyer probably 5 ++ MIO baht and you TRUST they can never claim the home back from you in the future, as a Thai person. Or that they take out a huge loan against the home you have just given them. Without turning the thread into a debate about owning a home in Thailand- u always have risks. No matter how you try and get around this law.

Naturally for some the lowest risk is they put in their Thai spouse name and have everything else in their name (Cars, stocks, OS property, etc)- for a just in case divorce, etc.

If the house is in a Thai name, and make a claim for it in court- you have no chance... Plus a lawyer could swindle you far easier than a trusted spouse of many years I believe.

Yes some of us know the proposed work arounds; lending a Thai money then on 30 year lease, Thai spouse then 30 year lease, Co Ltd yet you cannot own a majority of that company, I heard that investors who are cashed up (40 MIO PLUS) in Thailand can own 1 RAI and house (Not sure if true), then there was the SCAM involving the Elite 1 MIO card where they were to let you own- that did not come about- simply ripped many Farang's off 1 MIO bt, in the hopefully far gone Taksin Con Job Era.

Think about a 100 sq mtr Condo would be my suggestion unless you are 110% confident in your future with your Thai spouse.

Basically I think the OP is confident in his trusted spouse and it is not an issue for him. For those you state a Thai person cannot own a Thai house\land because they married to a Farang, I think this rule was changed some years ago. As I still have old timers saying to me that their wife cannot own a house because they married to a Farang, so that why they rent.

Renting a house at a 3% Yield is far better tahn taking the risk of Ownership in Thailand i believe. As homes have not gone up much in the last few years- pretty flat. Condos being near 8% yield are far better off buying IMO + some growth has been achieved. Plus we can 100% totally own them, as long as the complex is not over 49% Farang owned.

To the Op- it sounds like you are 110% confident in your spouse and this does not enter your mind- rent for now at 3% yield (Beautiful for renter) then drive around. If you not interested in the house for investment growth and income then look around- heaps are for sale in every Moo Barn I enter. Naturally their are far better investments elsewhere in the world- but if ownership by your spouse is what you want...

I see property for sale everywhere in front of house (On tiny little signs written in Thai- have your Thai spouse ask what is their lowest price)- plus the Thai Chiang Mai Trader has heaps of homes for sale... For the most part Thais put on a sale price which is their 'Dream' price, yet they are prepared to wait years to receive it- except developers can get more desperate. Point out your interest to all agents and you will get 100s of calls. Also the developers who have not sold all their stock... If you get the agents working more for you than the owner\developer- they can get the price lower than the Owner wants to sell for. As they simply wish for their 3% commission from the owner. Get to know the prices intimitely and the area you wish to live. Do not snap up the first house you come across- there is always great deals. Typically new homes are a premium unless you purchase Off-the-plan, which is a risk and you will want a large discount for this risk. Some I know have made good savings buying off the plan- yet you see many have lost when a developer goes down in harder economic times.

Good Luck

:jap:

[jayinoz]

Ohh yes do not forget the largest agent of them all..... the banks who have forclosed on bad loans. Now they own a HUGE majority of homes in compared to many other countries of the world. You can get a bargain here also... They have a large BOOK available to view- yet look out for people in the homes. As you MUST often vacate them- not a pleasant experience to throw a family out on the street.

[drummond4404]

some good advice so thanks to the serious replies. I am planning to rent and then buy. I will be a cash buyer but I would like to buy a house that will remain standing. It seems like everywhere the message is.....be careful. I still have no information about the annual running costs or taxes in a moo bann for a 4 bed house. anyone know any facts? I guess it depends on what moo bann but an idea would be appreciated. any one know a nice and safe residential area for a respectable family to live?

[anonymouse]

some good advice so thanks to the serious replies. I am planning to rent and then buy. I will be a cash buyer but I would like to buy a house that will remain standing. It seems like everywhere the message is.....be careful. I still have no information about the annual running costs or taxes in a moo bann for a 4 bed house. anyone know any facts? I guess it depends on what moo bann but an idea would be appreciated. any one know a nice and safe residential area for a respectable family to live?

Running costs are pretty cheap in my moo baan at least , a three bedroom place, the water bill/service bill for the moo ban - rubbish taken away twice a week, roads cleaned etc and monthly water bill is around the 500baht mark not sure exactly because my wife deals with this.

Gardening once a month is around 300 baht, electric never any more than 1,800 baht, gas bottle around 300 baht. So around 4,000 baht for us.

[Thighlander]

The lease is part of the Chinot, which you will hold onto. If the lawyer, or one of her creditors came after it, they would have to get in line and wait until after the end of the lease.