Rent Or Buy - Expats Living Here 9 Months Or More Each Year And Have Been Here More Than One Year.

[chaihot]

I saw this poll on another board and found the results surprising. I wondered if the results would be much different on TV, since there are more expats on TV ...

The other board had

41% Yes I own ...

5% Yes I own, but rent ...

54% No, I only rent.

I'm not trying to get into a discussion of owing land, or using a company to own a house or any of that. If you own a company and put the money in to buy a house, then you own a house for the purpose of this poll.

Thanks for participating.

[Gary A]

I own a condo and rent it out. I live in my wife's (our) house and pay no rent. I didn't vote because I fit in none of the categories.

[Crossy]

We rent a condo whilst we build the house we (sorry, my wife) will own.

[chaihot]

I own a condo and rent it out. I live in my wife's (our) house and pay no rent. I didn't vote because I fit in none of the categories.

I tried but couldn't edit the poll. The key is ... YOU OWN. Choice 1.

Did you invest money in Thailand to effect the purchase of real property??? YES?? then you own.

[Pib]

My Thai wife (of many decades) and I own a house on a small plot of dirt here in Bangkok....in a very nice moobaan. I have a Usufruct on the chanote.

[kwonitoy]

We have a house in Issan in the wife's name, and I own a condo in Jomtien that is in my name and not rented out. We live in Issan with the occasional trip to the beach.

One vote to the first choice

[Darrel]

I had every intention of buying but after a year of viewing badly-built, poorly maintained, over-priced crap I decided to rent instead.

For a one-year contract in a unit that I was very interested in buying I am paying well under 4% of the asking price, which to my mind indicates how fanciful the asking price was. (I'm getting nearly the same amount in interest at the bank.) I'm still interested in buying the unit, but my best offer currently is 20% below the asking price and my offer is likely to drop over the next couple of years due to oversupply as all these new places come on line.

[guzzi850m2]

My wife and I own a nice house in Pattaya (I will lease the land from her when we are finished paying it off).

The reason for buying:

1: When you have a house there are many things to improve in order to get the perfect house. We have now spend app. 3-400k bath on improvement inside and in the garden. I reckon we will have to spend maybe 200k bath more and its perfect. It you rent you don't want to spend that kind of money on improvement as they will be lost.

2: We got kids so pretty sure we will stick together.

3: When I retire in 15 years time there will be no rent to pay.

4: Its not bought as an investment as such but more like a nice place for us to live in.

[ludditeman]

Just to point out if your wife owns the house, you shouldn't be voting that you own it.

[chaihot]

Just to point out if your wife owns the house, you shouldn't be voting that you own it.

Depends. Who paid for the house?

Previously: "Did you invest money in Thailand to effect the purchase of real property??? YES?? then you own."

[guzzi850m2]

Just to point out if your wife owns the house, you shouldn't be voting that you own it.

Depends. Who paid for the house?

Previously: "Did you invest money in Thailand to effect the purchase of real property??? YES?? then you own."

We both own the house and yes its paid by my money.

[Hooters]

I bought in lower suk,BKK 5 years ago. Great location surrounded by supermarkets and BTS around the corner. Another 8 years and it will be just about paid off on rent saved.

putting your money in the bank at few percent interest is dead money and under the inflation rate also it takes discipline not to touch that money! A lot of people dip into it over the years.

Have designed the place exactly how I want it which important to me since its where i spend most of my day i couldn't imagine not being able to hang up a picture without the landlords permission, yuk!

[Darrel]

Another 8 years and it will be just about paid off on rent saved.

It would take me over 26 years rental to pay the asking price on my place. I doubt I will live that long.

[ludditeman]

I bought in lower suk,BKK 5 years ago. Great location surrounded by supermarkets and BTS around the corner. Another 8 years and it will be just about paid off on rent saved.

putting your money in the bank at few percent interest is dead money and under the inflation rate also it takes discipline not to touch that money! A lot of people dip into it over the years.

Have designed the place exactly how I want it which important to me since its where i spend most of my day i couldn't imagine not being able to hang up a picture without the landlords permission, yuk!

No sensible investor puts their savings in a bank, most competent investors can get a return around 6-12%.

The house I live in is valued at 1.2 million, I pay 60k a year (5%), so by renting I gain 1-7% per year.

(No maintenance vs no capital appreciation but no risk due to flood, war, divorce, etc.)

Edited December 25, 2011 by ludditeman

[Hooters]

I bought in lower suk,BKK 5 years ago. Great location surrounded by supermarkets and BTS around the corner. Another 8 years and it will be just about paid off on rent saved.

putting your money in the bank at few percent interest is dead money and under the inflation rate also it takes discipline not to touch that money! A lot of people dip into it over the years.

Have designed the place exactly how I want it which important to me since its where i spend most of my day i couldn't imagine not being able to hang up a picture without the landlords permission, yuk!

No sensible investor puts their savings in a bank, most competent investors can get a return around 6-12%.

The house I live in is valued at 1.2 million, I pay 60k a year (5%), so by renting I gain 1-7% per year.

(No maintenance vs no capital appreciation but no risk due to flood, war, divorce, etc.)

," most competent investors can get a return around 6-12%"

12%? every year over 25 years? LOL

look 6% Is reality, but there is no capitol gains on that money. A property at 6% return plus it can double over the same time period if not triple. .

[ludditeman]

look 6% Is reality, but there is no capitol gains on that money. A property at 6% return plus it can double over the same time period if not triple. .

A condo (which is the only property you can actually own in Thailand) can also 1/2 in price or in rare cases become completely worthless.

[Hooters]

look 6% Is reality, but there is no capitol gains on that money. A property at 6% return plus it can double over the same time period if not triple. .

A condo (which is the only property you can actually own in Thailand) can also 1/2 in price or in rare cases become completely worthless.

sorry wrong. Western properties caught in the sub prime crises became worthless especially USA

Thailand WAS NOT affected in the 2008 crash (no sub prime). Maybe do a bit of research??

[Khun Jean]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

I own for business purposes and for living i rent. I can't pay 3 million baht for something that i can rent for 11.000.

I spend that on something that gives a return. Plain dirt is still the best, needs very little maintenance.

[Hooters]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

I own for business purposes and for living i rent. I can't pay 3 million baht for something that i can rent for 11.000.

I spend that on something that gives a return. Plain dirt is still the best, needs very little maintenance.

Anyone can find cheap rent in crappy area. Over the months of requesting links to the "fire sales" on condos here not one person has posted a link, they dont exist.

Everyone claims to put money in other areas to "work for them" LOL no one has told me where they put it.

Stock market? most would be 50% down on managed funds and those that claim they make money as a day trader are lying

[Khun Jean]

They do exist. I find them a few a year. Patience,lots of walking and being inventive.

The trick in making money is not telling everybody about it.

400m from bts is good enough for me.

Edited December 25, 2011 by Khun Jean

[samran]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

I own for business purposes and for living i rent. I can't pay 3 million baht for something that i can rent for 11.000.

I spend that on something that gives a return. Plain dirt is still the best, needs very little maintenance.

Anyone can find cheap rent in crappy area. Over the months of requesting links to the "fire sales" on condos here not one person has posted a link, they dont exist.

Everyone claims to put money in other areas to "work for them" LOL no one has told me where they put it.

Stock market? most would be 50% down on managed funds and those that claim they make money as a day trader are lying

and therein lies your problem, requiring a 'link' to something, as if there is no link, it doesn't exist.

The best bargains are rarely, if ever, advertised.

[GreenSnapper]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

This is exactly the point.

In my home country, I can buy new condos at good location for similar prices as in lower Suk. But these are of high quality and will be properly maintained. 20 years later, these condos will still have considerable value.

Different in Bangkok. New condos are built by uneducated Burmese workers. Even the plumbing is often faulty, despite the high prices. 20 years later, these will be just trash - or slums for the lower classes.

I have seen formerly luxury condos in Bangkok which are trash after only 10 years.

So when you calculate the income you may gain from buying a condo, do not just calculate rents, but also calculate loss of value. No Thai would buy an older condo in slum-state, when he can buy a new one. You basically cannot sell it after it is run down, or only for great budget prices.

[Khun Jean]

'fire sales' first goes to family friends, because they are often asked to 'help'. Then probably banks or people in the vicinity who know about this. When it is in the bank then those will have a first shot. When it is still available after that then it will be on a few agents list that they spread throughout their family and friends first. Then to customers who used them to find real estate for them.

If it is still not gone it will be advertised in Thai newspaper, websites. If it is deemed that it can be sold to a foreigner it will on those agents lists for their family, friends, colleagues and their family and friends, then their customers and finally somewhere in a newspaper, magazine and website. At this time you can have the possibility of a link. And if it is still interesting then that link will be gone quick because everybody is looking for links of 'fire sales'. Except when it goes through so many hands it will be a fire sale with at least 50% slapped on it for extra profit.

Still not gone it will be 'lost' until someone stumbles upon it. (This is the footwork!)

So if you want a small chance to find a 'fire sale' make sure you are somewhere near the first people that will know. My way is to have 'contacts' in many areas. Don't underestimate the amount of work that it needs. It took me over 10 years to at least hear about 5-6 'fire sales' per year!

In short 99.9% of the really good deals will never end up on a website. I already accept i am missing out on 99% of the good deals, so i am happy to at least hear about the 1%. And because the amount of work it took i am not willing to share it. Maybe if i arrive at the 10% then i will know about to many and can share, for a profit of course.

Edited December 26, 2011 by Khun Jean

[Hooters]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

This is exactly the point.

In my home country, I can buy new condos at good location for similar prices as in lower Suk. But these are of high quality and will be properly maintained. 20 years later, these condos will still have considerable value.

where do you live, Albania?

certainly not in any of the worlds capitols.

Asia is booming with real estate growth whilst the west crumbles. I pity all those that recommended buying property outside of Thailand in 2007. I hope those guys bought in the states only to see their wealth disappear overnight, but they dont post here anymore.

Edited December 26, 2011 by Hooters

[GreenSnapper]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

This is exactly the point.

In my home country, I can buy new condos at good location for similar prices as in lower Suk. But these are of high quality and will be properly maintained. 20 years later, these condos will still have considerable value.

where do you live, Albania?

certainly not in any of the worlds capitols.

Asia is booming with real estate growth whilst the west crumbles. I pity all those that recommended buying property outside of Thailand in 2007. I hope those guys bought in the states only to see their wealth disappear overnight, but they dont post here anymore.

You may do some research about condo prices in Northern Europe and Thailand. And not only about prices, but also about built quality.

Nobody stops you to pay the price of a BMW for a Lada. But most people would prefer the BMW.

Last time I checked a condo in BKK, it was 15 Million Baht, 100 sqm, toilet stinking due to faulty plumming and the cheapest kitchen you can think of.

Who buys such crap?

1. Wealthy Thais with no clues.

2. Wealthy farangs with no clues.

3. Wealthy Chinese with no clues.

There is a high demand for condos in BKK. But not for first world prices and third world standards. 90% of the people here can afford 5000 Baht for rent or payment.

That's why the market here is doomed. If you want to invest in Asia, buy in Tokyo or Singapore. In both cities the average population can afford an average condo.

[Hooters]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

This is exactly the point.

In my home country, I can buy new condos at good location for similar prices as in lower Suk. But these are of high quality and will be properly maintained. 20 years later, these condos will still have considerable value.

where do you live, Albania?

certainly not in any of the worlds capitols.

Asia is booming with real estate growth whilst the west crumbles. I pity all those that recommended buying property outside of Thailand in 2007. I hope those guys bought in the states only to see their wealth disappear overnight, but they dont post here anymore.

You may do some research about condo prices in Northern Europe and Thailand. And not only about prices, but also about built quality.

Nobody stops you to pay the price of a BMW for a Lada. But most people would prefer the BMW.

Last time I checked a condo in BKK, it was 15 Million Baht, 100 sqm, toilet stinking due to faulty plumming and the cheapest kitchen you can think of.

You call research 1 condo?

great job.

<deleted> would want to live in Singapore or tokyo ?

[GreenSnapper]

You call research 1 condo?

great job.

<deleted> would want to live in Singapore or tokyo ?

I'm giving you some examples.

But with your lack of any experience about Europe, Singapore or Tokyo, it is better to stop this fruitless discussion.

[Hooters]

I agree, you may want to check the pricing in Singapore and report back here with tail between legs. Better still join a forum in Singapore where its relative

[samran]

Thai has no problem with 'Sub prime', more with 'sub standard'.

30 years in a condo and you will have a minuscule portion of the land when it collapses (i mean when it is demolished).

This is exactly the point.

In my home country, I can buy new condos at good location for similar prices as in lower Suk. But these are of high quality and will be properly maintained. 20 years later, these condos will still have considerable value.

where do you live, Albania?

certainly not in any of the worlds capitols.

Asia is booming with real estate growth whilst the west crumbles. I pity all those that recommended buying property outside of Thailand in 2007. I hope those guys bought in the states only to see their wealth disappear overnight, but they dont post here anymore.

You may do some research about condo prices in Northern Europe and Thailand. And not only about prices, but also about built quality.

Nobody stops you to pay the price of a BMW for a Lada. But most people would prefer the BMW.

Last time I checked a condo in BKK, it was 15 Million Baht, 100 sqm, toilet stinking due to faulty plumming and the cheapest kitchen you can think of.

Who buys such crap?

1. Wealthy Thais with no clues.

2. Wealthy farangs with no clues.

3. Wealthy Chinese with no clues.

There is a high demand for condos in BKK. But not for first world prices and third world standards. 90% of the people here can afford 5000 Baht for rent or payment.

That's why the market here is doomed. If you want to invest in Asia, buy in Tokyo or Singapore. In both cities the average population can afford an average condo.

You need to get out more!

My last condo was 15Mb, 250sqm, 3br, 3bathroom, maids room, dining and lounge, maid and storage room. Great facilities and well maintained in a central location not far from Emporium.

[london]

I own and I rent out others I own.