Do You Rent Or Own?

[cdnmatt]

I'm curious, how many of us Thailand dwellers rent and own? And if you don't mind, also put what region in Thailand you live in.

Building a house obviously has its benefits, and compared to Canada, it's obviously dirt cheap here too. For say 3 million baht, I could have a nice piece of land, with a new house built on it. Considering how cheap rent here is though, I just wouldn't be able to justify it. We're renting a nice, large 2 storey, 4 bdrm, 2 bathroom house in a nice neighborhood for 4500/month. Even up the rent to 10,000/month, and that's still 25 years of rent, or with the current house, that's over 50 years of rent.

So for you guys who decided to buy / build, what was the justification? Old, retired, and large bank account with nothing to spend it on? The GF pushed you into it? You like the piece of mind? Or what?

Edited April 23, 2011 by cdnmatt

[zzaa09]

Principle property, paid for. Lock, stock, and barrel. 150 rai of prime farm land....familial. Long ago paid in full.

[thaimate]

Because when i die the wife would never live in Pattaya and the chances of selling are slim ,so i invest the money ,we have building land ,where she will move to and build there

[IanForbes]

I would never buy in Thailand unless I was completely settled with a wife and children. From what I've seen it is cheaper to rent than buy. And, what you buy can be lost in the blink of an eye.

[nocturn]

i own (and built) a house in Southern Thailand which I rent to others.

I have rented the same house in Bangkok for the last 12 years.

Edited April 23, 2011 by nocturn

[draggons]

Both. Have our own house about an hour north of Bangkok and rent one down close to Ban Chang.

[tartempion]

Own, built in Isaan, 40kms from Udon Thani.

Hate condominiums, hate living in towns of any size, even amphur size, hate the ghetto style moobaans as seen everywhere in Thailand, all concrete no greenery, wall one meter from next house .

Bought land 1km out of village, thus no village life neither, although we get more and more neighbors around.

Renting would have come cheaper over 20 year period at 5k/month, equal at 10K/month, thus not a bad deal considering I eliminated 98% of the undesirable factors.

[Tonto21]

I own, built my house in Mae Taeng, Chiangmai. I didn’t really have a choice, I wanted to live in a small Thai village renting was not an option. I think if I ever sold and moved to the ‘bright lights’ to live I would rent.

I do think unless you know what you’re doing, or have a Thai friend, (whom you can trust) best rent.

[lovelomsak]

I rent a 2 bedroom 2 bath townhouse for 2500 baht a month. Quiet neighbourhood, safe leave my gate open all day even when out. I owned 8 homes in my life. I am a quest here and cannot have ownership so why throw my money away to have a ghetto castle. If I wanted to own property I would buy back in my home country and have networth tied in with my investment. Also a house here anywhere near as good as the ones back home are more expensive than back home. For those who can afford to throw away lots of cash more power to you, or those who have never had a home or cannot afford one in their homeland and purchase a Thai quality home I hope you enjoy the experience. My rent is around the same as insurance for a year on my home back in Canada. The money it would cost me to have a quality home here a family of 6 could live off the interest if invested.

Edited April 24, 2011 by lovelomsak

[geriatrickid]

I would never buy in Thailand unless I was completely settled with a wife and children. From what I've seen it is cheaper to rent than buy. And, what you buy can be lost in the blink of an eye.

Agree.

[carmine]

I bought a house on Samui. Not a good move, but hindsights a wonderful thing. Bottom line is i really can't move on until the place is sold and with the state of things here potential buyers are becoming extinct!! We all know the situation with "ownership" so lets not go there, but i basically can't see enough benefits in buying especially with the baht so strong.

I'd say much better to rent. Its cheap, flexable, you can move at a drop of a hat and if you decide to look at pastures new your money will not be tied up.

[PattayaParent]

Own a flat in Pattaya but rent a house in Ban Chang to be near work and school.

When work finishes will return to live in the flat.

[PattayaParent]

double post. Internet problems

Edited April 24, 2011 by PattayaParent

[zzaa09]

Own, built in Isaan, 40kms from Udon Thani.

Hate condominiums, hate living in towns of any size, even amphur size, hate the ghetto style moobaans as seen everywhere in Thailand, all concrete no greenery, wall one meter from next house .

Bought land 1km out of village, thus no village life neither, although we get more and more neighbors around.

:thumbsup:

[mario299]

I would never buy in Thailand unless I was completely settled with a wife and children. From what I've seen it is cheaper to rent than buy. And, what you buy can be lost in the blink of an eye.

I am completely settled with wife and step-daughter, built 2 bedrm, 2 bath with separate building for kitchen/dining and separate carport in Issan near Prasat. Finished and paid for 3 years ago, built to my specs with my supervision (I am retired remodeler from USA). We had very competent builder on contract for labor, we bought all materials, worked out very well. Still own home in America so I have an out if my world fell apart here, but I certainly don't think it will. Very satisfied, and very happy, haven't been a renter for a long, long time... anywhere.

mario299

[pattaya_girl]

I bought a 3 bed Townhouse Central Pattaya nearly 10 Years ago, 800 thousand Baht. Spent 200 thousand on it, so it stands me at One Million.

I have no regrets as I would have spent a lot on rent over the last 10 years, and I have never any worries of paying rent.

Buying is ok if you plan to stay long term.

[yermanee]

I own, for many a year already.

Hate debts, hate being restricted in what I want my home to be.

Yermanee :jap:

[OZEMADE]

I bought a 2 bedroom Townhouse some 9 yrs ago for B1,000,000 cash. I sold it 4 yrs later for B1,700,000, a profit of B700,000.

I then purchased another 2 bedroom Townhouse for B1,000,000, which I am still currently living in. It is now worth B1,800,000. Thats a profit of 1,500,000 in 9 yrs.

If I was renting I would have made nothing and might as well put the rent money in a rubbish bin and burnt it. You never get your rent cash back.

But you can make a profit from purchasing the property.