Buying A Condo In Pattaya

[deejah]

advantages and disadvantages of each

from experienced people please

there are a lot available

probably some good deals

if you pay it off

are there also monthly maintenance fees?

i am new to all of this

so please enlighten me

thanks

[soihok]

Enter the dragon

[Barack]

Dear OP,

Use the forum search function. This topic has been discussed many times before.

[sotsira]

Depends whether you want to spend money by renting or have the potential

to make money by buying your own dwelling.

Obviously you need to consider how long you want to stay here before you decide

whether to buy or rent.

If you find the right place at the right price and plan to stay for at least 5 years

then i would buy if i were you.

Others on here that are renters will disagree with me, but from my own personal

experience i bought and sold over the last 7 years and currently live in the 4th

condo i have bought each time upgrading and i wouldn't have done it any other way.

[Darrel]

......the right place at the right price.......

Those are the magic words. Asking prices for most properties in Pattaya are hugely over the top, and that's why they hang around for months or years waiting for a buyer.

The trick is to find the rare pearl that is being sold for something near to what it is really worth. Or you just bite the bullet and pay a high price for something that you intend to live in for many years, by which time the value may have increased to near what you paid for it.

I never cease to be amazed by the number of owners here who are sitting on umpteen properties and hoping for a buyer or a tenant but who just cant see that the reason they have neither is simply because they are asking far too much. It really isnt rocket science.

[surangw]

less chance of someone screwing you out of your property of you rent

[Theo007]

Purchase an existing property, not one off the plan. I got mine nine years ago in a fairly quiet location between Pattaya and Jomtien. At the time there was very little down here but now I can walk to 3 " 7/11s", 2 Family Mart and have a Russian adventure as well!

[Awohalitsiktoli]

......the right place at the right price.......

Those are the magic words. Asking prices for most properties in Pattaya are hugely over the top, and that's why they hang around for months or years waiting for a buyer.

The trick is to find the rare pearl that is being sold for something near to what it is really worth. Or you just bite the bullet and pay a high price for something that you intend to live in for many years, by which time the value may have increased to near what you paid for it.

I never cease to be amazed by the number of owners here who are sitting on umpteen properties and hoping for a buyer or a tenant but who just cant see that the reason they have neither is simply because they are asking far too much. It really isnt rocket science.

It really is amazing and they will give you every explanation in the book to rationalize their over-the-top prices. The most popular explanation now seems to be that "we do not need the money" and can wait forever for a sucker. For some that is true, but for most it is simply costing them money to act like Thais and raise prices in a down market.

[Darrel]

The most popular explanation now seems to be that "we do not need the money" and can wait forever for a sucker.

A large part of the problem in Thailand is that many (most?) farang buyers have indeed spent money that they dont need, or which would otherwise be earning some tiny interest rate in a bank that might collapse at any time. Combine that with the low cost of property ownership here (no taxes, low maintenance charges) and it's no surprise that they choose to wait.

But I know a man who owns 4 units in Jomtien. One he lives in, one is rented out with a tenant of many years, and the other two are empty and for sale. He is always complaining that he has no money but wont reduce his sale or rental price to attract a buyer or tenant. I think he is an idiot.

[thaimate]

The most popular explanation now seems to be that "we do not need the money" and can wait forever for a sucker.

A large part of the problem in Thailand is that many (most?) farang buyers have indeed spent money that they dont need, or which would otherwise be earning some tiny interest rate in a bank that might collapse at any time. Combine that with the low cost of property ownership here (no taxes, low maintenance charges) and it's no surprise that they choose to wait.

But I know a man who owns 4 units in Jomtien. One he lives in, one is rented out with a tenant of many years, and the other two are empty and for sale. He is always complaining that he has no money but wont reduce his sale or rental price to attract a buyer or tenant. I think he is an idiot.

Reading your post made me think about a property i tried to rent when we came here 5 years ago ,i offered what i thought was a fair price telling the owner that we would be long term tenants ,but he insisted on 2000b more than i was willing to pay , so we rented another property which we are still in and love living in (the rent has dropped 5000b ) over the five years to keep us here .

As for the other property ,its still empty and has been since we first offered on it.

[Awohalitsiktoli]

The most popular explanation now seems to be that "we do not need the money" and can wait forever for a sucker.

A large part of the problem in Thailand is that many (most?) farang buyers have indeed spent money that they dont need, or which would otherwise be earning some tiny interest rate in a bank that might collapse at any time. Combine that with the low cost of property ownership here (no taxes, low maintenance charges) and it's no surprise that they choose to wait.

But I know a man who owns 4 units in Jomtien. One he lives in, one is rented out with a tenant of many years, and the other two are empty and for sale. He is always complaining that he has no money but wont reduce his sale or rental price to attract a buyer or tenant. I think he is an idiot.

The rent issue is strange to say the least. There are so many farang expats who refuse to reduce rents a point that reflects actual market conditions. Not selling is one thing; not renting out the units is another. I think it is beyond stupid to not reduce rent rates and simply leave them vacant for months/years refusing to accept market reality or waiting on the "sucker." But, they will come back and say "we do not need the money that much" or "we do not want to create a fire sale." Actually, their egos do not allow them to accept the reality of the market and the fact that they made an unwise decision to buy into a dream that has yet to materialize (except for a few who specialize in the ultra-top end condo market).

[Thaifan2]

If you decide to buy i have a nice new build ,one bedroom ,fully furnished ,with Western kitchen ,for B1.29 in Jomtien .( foreign name )

[PattayaParent]

less chance of someone screwing you out of your property of you rent

He's talking about buying a condo so as long as he remembers to only by in the Farang Quota so he can have it 100% in his own name then there's no problems with dodgy companies/wives/gfs involved.

Yes OP, monthly/ yearly maintenance fees and sinking fund payments are invloved also.

[PattayaParent]

......the right place at the right price.......

Those are the magic words. Asking prices for most properties in Pattaya are hugely over the top, and that's why they hang around for months or years waiting for a buyer.

The trick is to find the rare pearl that is being sold for something near to what it is really worth. Or you just bite the bullet and pay a high price for something that you intend to live in for many years, by which time the value may have increased to near what you paid for it.

I never cease to be amazed by the number of owners here who are sitting on umpteen properties and hoping for a buyer or a tenant but who just cant see that the reason they have neither is simply because they are asking far too much. It really isnt rocket science.

What he said.

[PattayaParent]

If you decide to buy i have a nice new build ,one bedroom ,fully furnished ,with Western kitchen ,for B1.29 in Jomtien .( foreign name )

I thought you'd flogged that place in Park Lane already?

[Thaifan2]

If you decide to buy i have a nice new build ,one bedroom ,fully furnished ,with Western kitchen ,for B1.29 in Jomtien .( foreign name )

I thought you'd flogged that place in Park Lane already?

No ,its currently rented out though.

[deejah]

If you decide to buy i have a nice new build ,one bedroom ,fully furnished ,with Western kitchen ,for B1.29 in Jomtien .( foreign name )

please pm with as many details as possible

location

how many units in the complex

floor? etc....

are their maintenance fees and taxes?

all costs involved

and if you are able to be unbiased:

all advantages and disadvantages

pics or photos too?

blah blah blah :jap:

thanks

[Thaifan2]

>>are their maintenance fees and taxes?<<

Yes of course ,but very low by Western Standards . :jap:

..anyway i will send you a pm .

[janverbeem]

If you decide to buy i have a nice new build ,one bedroom ,fully furnished ,with Western kitchen ,for B1.29 in Jomtien .( foreign name )

I thought you'd flogged that place in Park Lane already?

Nah,he appreciates it as a second holiday home and don't want to sell it,or was it that he decided to rent it out because there was a queue of tenants.............or is it because he is stuck with it for the rest of his life because it's full of rude Russians?

[vpi78]

Dear OP,

Use the forum search function. This topic has been discussed many times before.

Praise Allah that old canard was rolled out again. That search feature is about as useful as a Kenyan as POTUS.

Wait a minute a Kenyan is President of the US.

[Thaifan2]

>>or is it because he is stuck with it for the rest of his life because it's full of rude Russians? <<

I have had offers but too low .I at least want to get my money back .You talk of rude Russians .Get over it as they are the ones with money now ,and they are buying up Jomtien .When i sell it will probably be to a Russian !,not to a potless Brit or fellow Irishman . :jap:

[janverbeem]

>>or is it because he is stuck with it for the rest of his life because it's full of rude Russians? <<

I have had offers but too low .I at least want to get my money back .You talk of rude Russians .Get over it as they are the ones with money now ,and they are buying up Jomtien .When i sell it will probably be to a Russian !,not to a potless Brit or fellow Irishman . :jap:

If the offers come in below your purchasing price,which I recall was already at a heavy discount because you bought in the early phase of construction,that would be a clear sign that nobody wants to live there.

Because the Russians are the one with the money now doesn't make them more enjoyable is it, and I agree that the only way to get rid of your gardenshed is to sell it to one of them at inflated price.

[Thaifan2]

>>If the offers come in below your purchasing price,which I recall was already at a heavy discount because you bought in the early phase of construction,that would be a clear sign that nobody wants to live there.<<

I can only think you have not seen Park Lane .Its one of the most desirable Condos in Jomtien .

Many people dream of living there but as they dont have a pot to piss in ,it remains a dream for them .( ..some of them end up sniping like yourself ) . :jap:

[morphic]

>>If the offers come in below your purchasing price,which I recall was already at a heavy discount because you bought in the early phase of construction,that would be a clear sign that nobody wants to live there.<<

I can only think you have not seen Park Lane .Its one of the most desirable Condos in Jomtien .

Many people dream of living there but as they dont have a pot to piss in ,it remains a dream for them .( ..some of them end up sniping like yourself ) . :jap:

Looks like just another collection of poorly built little shoeboxes to me. I could buy your apartment 100 times over in cash if I wanted but I won't because I don't like to waste my money...no more likely than I would pay 200 baht for a horrible T-shirt that is actually only worth 100 baht...

[Pattaya46]

Many people dream of living there ...

Only those abroad who saw the promoter advertising video

Those who know Pattaya/Jomtien, who know where this condo is,

who know what it really is and look like, and how it was built,

certainly don't dream to live here!

There are many better choices in new condos around Pattaya

[Thaifan2]

>>There are many better choices in new condos around Pattaya <<

Granted ,but at a far higher price .As for quality of construction ? i have seen how they were built from the ground up .In my Condo after a year there are no cracks or water leaks .The internal fittings are European standard .........The pool is one of the best and biggest in Pattaya or Jomtien .

I miss the place desperately ,but have ended up living in Chiang Mai for family reasons . :jap:

[PattayaParent]

>>If the offers come in below your purchasing price,which I recall was already at a heavy discount because you bought in the early phase of construction,that would be a clear sign that nobody wants to live there.<<

I can only think you have not seen Park Lane .Its one of the most desirable Condos in Jomtien .

Many people dream of living there but as they dont have a pot to piss in ,it remains a dream for them .( ..some of them end up sniping like yourself ) . :jap:

It's more likely that the offers are low because the same developer is building a new place right next door and you can get a brand new place for the same money.

[Thaifan2]

>>If the offers come in below your purchasing price,which I recall was already at a heavy discount because you bought in the early phase of construction,that would be a clear sign that nobody wants to live there.<<

I can only think you have not seen Park Lane .Its one of the most desirable Condos in Jomtien .

Many people dream of living there but as they dont have a pot to piss in ,it remains a dream for them .( ..some of them end up sniping like yourself ) . :jap:

It's more likely that the offers are low because the same developer is building a new place right next door and you can get a brand new place for the same money.

..But next door ( Paradise Park ) is still in very early days of Construction .My place ,in as new condition, is advailable immediately .As i am getting a good rental i have not really been pushing the sale .

I must start advertising again though as a lot of people have put off buying untill the elections were over . :jap:

[PattayaParent]

>>If the offers come in below your purchasing price,which I recall was already at a heavy discount because you bought in the early phase of construction,that would be a clear sign that nobody wants to live there.<<

I can only think you have not seen Park Lane .Its one of the most desirable Condos in Jomtien .

Many people dream of living there but as they dont have a pot to piss in ,it remains a dream for them .( ..some of them end up sniping like yourself ) . :jap:

It's more likely that the offers are low because the same developer is building a new place right next door and you can get a brand new place for the same money.

..But next door ( Paradise Park ) is still in very early days of Construction .My place ,in as new condition, is advailable immediately .As i am getting a good rental i have not really been pushing the sale .

I must start advertising again though as a lot of people have put off buying untill the elections were over . :jap:

But to buy your place they would have to put 100% cash up front whereas to buy next door they can stagger the payments, although they take the risk of non-completion but as it's a reputable developer the risk is less.

You would be in a much better position when it's completed and all Foreign Quota units are sold if you can keep your place occupied until then.

[Darrel]

But to buy your place they would have to put 100% cash up front whereas to buy next door they can stagger the payments, .......

Indeed, but when buying a resale finished unit they can actually live in it the day they buy it rather than hand money over for 2 or 3 years before actually seeing anything back.

The only advantages to buying off-plan are that you may benefit from the sliding discounts that developers tend to offer here in the early days of construction, and the unit you buy wont have been subject to any wear and tear if/when you actually move in.