Condo Or Land

[Bangkokhatter]

Guys, thanks for all your advice. Im really new in LOS. No friend with me, alone following my Thai wife. Now still deciding a lot of stuff. Im glad to know TV. Got lot of advices and information for me.

I hope you listen to some of it, especially the well meaning posters who say do not move in with her family, it is a bad idea. As for buy v rent as others said, buy a house as it will be more comfortable, but it will never be yours.

[ebmzlm]

Don't be stupid. You can rent a2/3 bedroom house for 20,000/25,000 a month. You could pay a years in advance and possibly get a 10%/15% discount.

The maths, 1 year renting 200,000 baht, 10 years 2m baht.

Buying a house which you will never own, cost 2/3 million baht.

As you said you are on your own, no foreign friends etc sounds to me your wife is attempting to scam you.

[NanLaew]

Yup, the 1.2 million baht, 3 year-old, 4-bedroom, 'family house' is now without the farang beneficiary and it looks like a council tip only 6 months after the wife and I moved out.

We are now renting a 3 year old, 4-bedroom house in a quiet and secure community (no bloody chickens). The owner offered to sell it to the wife for 4 million baht. However, at 15,000 baht/month x 12 x 12 (per BigJohnyBKK's rule) so that's only 2.16 million rent so no thanks. If you want to own something really nice in your name for your twiight years, I recommend Fort Myers in Florida, US. Four huge bedrooms, two ensuite, pool, three car garage and huge patio deck with bbq area for a tad over 4 million baht. I reckon I will make a cool neighbor.

And one thing is for sure, I won't be living in Thailand in 12 years from now either!

[Smokemachine]

Thank guys for all your opinions. Will take a serious consideration and try to work out with my wife.

[yoshiwara]

The solution for Kelvin is quite straightforward. Since he is married he should first open a joint bank account with his wife. She's his wife right? Second he should sit down with the family and discuss the best way forward. As now a member of the family they will certainly work something out for him/with him. His wife is lonely and pining for her family so if she is happy, Kelvin is happy. Forget the purchase of a property in a company name. Not necessary. Put into the wife's name. All you have to do Kelvin is report back to us in 1 year's time and tell us how things are coming along. Don't worry, they're all jealous Kelvin. I suspect that your wife is different. It will all be OK.

[simple1]

The solution for Kelvin is quite straightforward. Since he is married he should first open a joint bank account with his wife. She's his wife right? Second he should sit down with the family and discuss the best way forward. As now a member of the family they will certainly work something out for him/with him. His wife is lonely and pining for her family so if she is happy, Kelvin is happy. Forget the purchase of a property in a company name. Not necessary. Put into the wife's name. All you have to do Kelvin is report back to us in 1 year's time and tell us how things are coming along. Don't worry, they're all jealous Kelvin. I suspect that your wife is different. It will all be OK.

Don't overlook that he has also posted on TV asking questions on investing 300,000 baht to buy a business for the family as well as buying a Honda Civic. Going to be a very happy family.

[Smokemachine]

The solution for Kelvin is quite straightforward. Since he is married he should first open a joint bank account with his wife. She's his wife right? Second he should sit down with the family and discuss the best way forward. As now a member of the family they will certainly work something out for him/with him. His wife is lonely and pining for her family so if she is happy, Kelvin is happy. Forget the purchase of a property in a company name. Not necessary. Put into the wife's name. All you have to do Kelvin is report back to us in 1 year's time and tell us how things are coming along. Don't worry, they're all jealous Kelvin. I suspect that your wife is different. It will all be OK.

Don't overlook that he has also posted on TV asking questions on investing 300,000 baht to buy a business for the family as well as buying a Honda Civic. Going to be a very happy family.

The 300000bt is just my own thinking. My wife insist her mum to stop working in the rice field and get something else to work. I guess their capital is no more than 300k. As for the car will be under my name. As for the house, we will rent first and when time is appropriate , will buy a condo under my name. She agreed

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[simple1]

The solution for Kelvin is quite straightforward. Since he is married he should first open a joint bank account with his wife. She's his wife right? Second he should sit down with the family and discuss the best way forward. As now a member of the family they will certainly work something out for him/with him. His wife is lonely and pining for her family so if she is happy, Kelvin is happy. Forget the purchase of a property in a company name. Not necessary. Put into the wife's name. All you have to do Kelvin is report back to us in 1 year's time and tell us how things are coming along. Don't worry, they're all jealous Kelvin. I suspect that your wife is different. It will all be OK.

Don't overlook that he has also posted on TV asking questions on investing 300,000 baht to buy a business for the family as well as buying a Honda Civic. Going to be a very happy family.

The 300000bt is just my own thinking. My wife insist her mum to stop working in the rice field and get something else to work. I guess their capital is no more than 300k. As for the car will be under my name. As for the house, we will rent first and when time is appropriate , will buy a condo under my name. She agreed

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If the mother is a working on a rice farm, she will not have 300,000 baht

[Smokemachine]

The solution for Kelvin is quite straightforward. Since he is married he should first open a joint bank account with his wife. She's his wife right? Second he should sit down with the family and discuss the best way forward. As now a member of the family they will certainly work something out for him/with him. His wife is lonely and pining for her family so if she is happy, Kelvin is happy. Forget the purchase of a property in a company name. Not necessary. Put into the wife's name. All you have to do Kelvin is report back to us in 1 year's time and tell us how things are coming along. Don't worry, they're all jealous Kelvin. I suspect that your wife is different. It will all be OK.

Thanks for your encouragement. I have heard a lot of sad cases and it worries me as well. So far, my wife is ok. Always consider for me. Hopefully this will carry on down the road.

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[Smokemachine]

The solution for Kelvin is quite straightforward. Since he is married he should first open a joint bank account with his wife. She's his wife right? Second he should sit down with the family and discuss the best way forward. As now a member of the family they will certainly work something out for him/with him. His wife is lonely and pining for her family so if she is happy, Kelvin is happy. Forget the purchase of a property in a company name. Not necessary. Put into the wife's name. All you have to do Kelvin is report back to us in 1 year's time and tell us how things are coming along. Don't worry, they're all jealous Kelvin. I suspect that your wife is different. It will all be OK.

Don't overlook that he has also posted on TV asking questions on investing 300,000 baht to buy a business for the family as well as buying a Honda Civic. Going to be a very happy family.

The 300000bt is just my own thinking. My wife insist her mum to stop working in the rice field and get something else to work. I guess their capital is no more than 300k. As for the car will be under my name. As for the house, we will rent first and when time is appropriate , will buy a condo under my name. She agreed

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If the mother is a working on a rice farm, she will not have 300,000 baht

You mean she will have more than 300000bt is it? My wife has 4 siblings who have not contribute any house income. Her mum is the only financial supporter. She distribute her cash more than what she earn to her kids monthly. Don't think she can really save much money. Perhaps maybe she has more than 300000. Just put it at 300,000bt I wonder what stuff can she do?

Erm... Heard morning market stall business is quite good.

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[simple1]

Please forgive me, but I do not understand how the mother can provide more cash to the family than she is earning. By the way you do realise that the average rice farm, presumably in Issan, will usually generate net income of less than 100,000 a year

[giddyup]

Ya I know condo is more expensive than the land and house. But my wife prefer to stay with her family (they are very close) that why I'm in a dilemma. Not sure what Is the best way for me. I agreed about the buying land and house is consider giving to them (although is under my wife name) and they will not even bother about me anymore since,things are in their name. To me , actually I feel ok staying with them but I'm just thinking of a win win situation which all the stuff can be under my name and my wife can stay with them. Is there anyway that if I buy a land and house, get my name on it through legal way? A will? I'm not sure is there such legal method?

Time for a wake up call and a reality check Mr Kelvin. Reading some of your previous posts, it seems you are completely lost in the new country of yours. If you are not being very careful, we will very soon see, you posting about, how the courtsystem is working here . Your wife is married to you, and still wants to stay with her family ?? Close or not close, YOU are her family now.

So my advice to you would be, rent in the beginning. NOTHING in your wifes or familys name, no land, no motorbike, no car (despite missing out on the new car rebate). Then down the line, 5 years time or so, when you are sure that your relationship is a good one, then you can start considering buying something here.

Please explain the "new car rebate", never heard of this before.

[simple1]

Ya I know condo is more expensive than the land and house. But my wife prefer to stay with her family (they are very close) that why I'm in a dilemma. Not sure what Is the best way for me. I agreed about the buying land and house is consider giving to them (although is under my wife name) and they will not even bother about me anymore since,things are in their name. To me , actually I feel ok staying with them but I'm just thinking of a win win situation which all the stuff can be under my name and my wife can stay with them. Is there anyway that if I buy a land and house, get my name on it through legal way? A will? I'm not sure is there such legal method?

Time for a wake up call and a reality check Mr Kelvin. Reading some of your previous posts, it seems you are completely lost in the new country of yours. If you are not being very careful, we will very soon see, you posting about, how the courtsystem is working here . Your wife is married to you, and still wants to stay with her family ?? Close or not close, YOU are her family now.

So my advice to you would be, rent in the beginning. NOTHING in your wifes or familys name, no land, no motorbike, no car (despite missing out on the new car rebate). Then down the line, 5 years time or so, when you are sure that your relationship is a good one, then you can start considering buying something here.

Please explain the "new car rebate", never heard of this before.

Only available for Thais

[Smokemachine]

Please forgive me, but I do not understand how the mother can provide more cash to the family than she is earning. By the way you do realise that the average rice farm, presumably in Issan, will usually generate net income of less than 100,000 a year

My wife's dad has passed away and she has a step father but not staying in the same house. He is also working rice field with her mum together so I think her mum will ask for help from him if she really do not have enough allowance. I'm not sure about the exact earning for the rice harvest but my wife told me before. It's seems much more than 100,000 in issan annually

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[simple1]

Please forgive me, but I do not understand how the mother can provide more cash to the family than she is earning. By the way you do realise that the average rice farm, presumably in Issan, will usually generate net income of less than 100,000 a year

My wife's dad has passed away and she has a step father but not staying in the same house. He is also working rice field with her mum together so I think her mum will ask for help from him if she really do not have enough allowance. I'm not sure about the exact earning for the rice harvest but my wife told me before. It's seems much more than 100,000 in issan annually

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Currently you seem to have no idea of the economics of Thailand - a labourer on a rice farm will earn around 7/10k baht a month. Enough of your nonsensical posts - over & out

Edited June 13, 2012 by simple1

[Smokemachine]

Please forgive me, but I do not understand how the mother can provide more cash to the family than she is earning. By the way you do realise that the average rice farm, presumably in Issan, will usually generate net income of less than 100,000 a year

My wife's dad has passed away and she has a step father but not staying in the same house. He is also working rice field with her mum together so I think her mum will ask for help from him if she really do not have enough allowance. I'm not sure about the exact earning for the rice harvest but my wife told me before. It's seems much more than 100,000 in issan annually

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Currently you seem to have no idea of the economics of Thailand - a labourer on a rice farm will earn around 8/10k baht a year. Enough of your nonsensical posts - over & out

It is depend how big is the rice field. According to my wife, the rice field is huge that why can fetch this price. How big is the rice field in issan that you mention earning 100,000?

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[simple1]

Please forgive me, but I do not understand how the mother can provide more cash to the family than she is earning. By the way you do realise that the average rice farm, presumably in Issan, will usually generate net income of less than 100,000 a year

My wife's dad has passed away and she has a step father but not staying in the same house. He is also working rice field with her mum together so I think her mum will ask for help from him if she really do not have enough allowance. I'm not sure about the exact earning for the rice harvest but my wife told me before. It's seems much more than 100,000 in issan annually

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Currently you seem to have no idea of the economics of Thailand - a labourer on a rice farm will earn around 8/10k baht a month. Enough of your nonsensical posts - over & out

It is depend how big is the rice field. According to my wife, the rice field is huge that why can fetch this price. How big is the rice field in issan that you mention earning 100,000?

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One last time - over and out

[BigJohnnyBKK]

The 300000bt is just my own thinking. My wife insist her mum to stop working in the rice field and get something else to work.

Don't let your wife "insist" on anything.

You tell her what you want, and if she doesn't want to go along with it, dump her and get another one.

You really are setting yourself up to be bled until you are dry. Stop being such a pussy-whipped fool and start acting like a man, or she and her family will never have any respect for you.

Her family is not your problem. Give her a reasonable personal allowance (say 20% of your total expenses per month) that she can use for things she wants - shopping, new gadgets, saving to start a business, going back to school, or sending home to help support her family.

Up to her how she spends it, but not a penny more.

If you want to help out for major emergencies (like her mum's got cancer and needs surgery) then up to you, but make sure you don't do anything that threatens your own future security.

When the money runs out she and her family will most likely not be around to help you so you need to protect yourself.

[BigJohnnyBKK]

The solution for Kelvin is quite straightforward. Since he is married he should first open a joint bank account with his wife. She's his wife right? Second he should sit down with the family and discuss the best way forward. As now a member of the family they will certainly work something out for him/with him. His wife is lonely and pining for her family so if she is happy, Kelvin is happy. Forget the purchase of a property in a company name. Not necessary. Put into the wife's name. All you have to do Kelvin is report back to us in 1 year's time and tell us how things are coming along. Don't worry, they're all jealous Kelvin. I suspect that your wife is different. It will all be OK.

Kelvin please realise that the post above is sarcastic - what he really means is "you are a total fool, blindly headed for disaster and will be completely wiped out by these bloodsucking parasites".

[Smokemachine]

@simple1

Seriously, I don't understand why you don't believe it. They rent the rice field from their relative and the field is a huge one. They harvest and sell and fetch more than 100,000bt. If you think I bullshit, well be it.

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[Smokemachine]

@BigJohnnybkk

Well if he mean to be sarcastic, so be it. Perhaps he has never meet a good Thai lady in his life that why he has be in this way.

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[Smokemachine]

The 300000bt is just my own thinking. My wife insist her mum to stop working in the rice field and get something else to work.

Don't let your wife "insist" on anything.

You tell her what you want, and if she doesn't want to go along with it, dump her and get another one.

You really are setting yourself up to be bled until you are dry. Stop being such a pussy-whipped fool and start acting like a man, or she and her family will never have any respect for you.

Her family is not your problem. Give her a reasonable personal allowance (say 20% of your total expenses per month) that she can use for things she wants - shopping, new gadgets, saving to start a business, going back to school, or sending home to help support her family.

Up to her how she spends it, but not a penny more.

If you want to help out for major emergencies (like her mum's got cancer and needs surgery) then up to you, but make sure you don't do anything that threatens your own future security.

When the money runs out she and her family will most likely not be around to help you so you need to protect yourself.

I will keep in mind, thanks

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[simple1]

@simple1

Seriously, I don't understand why you don't believe it. They rent the rice field from their relative and the field is a huge one. They harvest and sell and fetch more than 100,000bt. If you think I bullshit, well be it.

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Ok I'll indulge you, sell the crop for more than 100k baht, whats the net income per annum

[Smokemachine]

@simple1

I will report back to you in 1 year time. Don't worry. Everything will be ok.

Not every thai lady is shit.

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[simple1]

@simple1

I will report back to you in 1 year time. Don't worry. Everything will be ok.

Not every thai lady is shit.

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Your response proves you have no idea what you are talking about. However never said or inferred Thai women are "shit" - been married to Thai woman for 17 years.

[Soutpeel]

@simple1

I will report back to you in 1 year time. Don't worry. Everything will be ok.

Not every thai lady is shit.

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Your response proves you have no idea what you are talking about. However never said or inferred Thai women are "shit" - been married to Thai woman for 17 years.

I think what the OP is missing is that the signs are there that long game is being played this based on some of the other posts by the OP

Marry a rich Falang - check

Buy the car - in progess

Buy the Farang mansion and land in Isaan - under negotiation

Set the family up - under negotiation

wifey doesnt want mummy/family working in the fields now, its all to do with status....daughter has married a rich farang and the family want the status that goes with that, ie they want a business

And of course we have the classic line heard some many times in Thailand.....but she is different, eveything is will be ok...

I really hope for your sake it all works out, but one cant help thinking reading some of your posts that the classic Thailand "script" is being followed....the best advice is...protect your own interests first and foremost...

[JSixpack]

Please explain how financially renting is better than renting.

My rule of thumb: Take the rent price and multiply by 12 years. If the buy price is higher, it doesn't make sense financially.

If a condo, you have to deduct the maintenance/common charges from the rental income stream. Of course the latter are impossible to predict decades down the road, in the beginning when the developer is still flogging units it will be much much lower than a decade later, even if the build quality is excellent (in Thailand? hah!). You have no control over that monthly fee, can often end up nearly as much as rent in and of itself. Plus there aren't nearly the kind of protective measure in place for the individual owner's rights v/v the developer, here they can continue to skim the cream, cook the books no real rule of law.

Actually condos have elected committees and Juristic Managers and if owners are dissatisfied they can change the members.

In a number of condos, the farang owners form the majority on the committee and a farang is the elected Juristic Manager. No cream is being skimmed, no books are being cooked, and the Condo Law is followed. You'll find the Land Office is quite strict about the validity of the elections held at the General Meeting.

Therefore you do have some control, not "no control."

I don't see many posts around here from farangs complaining the monthly fees are too high, even in old buildings. Compare fees here to fees in, say, the USA plus the property taxes and regulations. Incredible difference.

I'd agree that one should choose a condo for purchase carefully. Of course.

Most areas are so grossly overbuilt and the Thais with money to spend only interested in the newer properties, can take forever to get a decent price when trying to resell, if you want to unload within a short time say six months you'll have to take a major haircut on the sell price.

More of the usual hot air. But the OP is talking about a residence in which to live, not a speculative investment. Besides, haircuts are possible most anywhere anytime. Propery holders and shareholders in the USA and the EU have discovered this in the past few years. Even cash depreciates w/ inflation and devaluations, sometimes rather quickly.

The benefits of ownership are not exclusively financial. Nobody cares about your rule of thumb.

As many other threads here show, neighbors can do what they like to devalue your property and you have no comeback.

Plus the overall generally much greater risk involved in investing in a country without respect for rule of law, end up on the wrong side of some grand poobah's scheme and your SOL.

I'm starting to think 12 year ratio is way too high.

Thailand does have respect for the rule of law, imperfect though it is. You've been listening to too many sob stories on TV. The majority of foreign property owners are pretty satisfied w/ their decision to buy and some have done quite well indeed. Thai neighbors generally don't wish to devalue their own property and that of others around them. They can't do just anything.

Some situations are predictable. If you buy a condo two rows behind the beach, you can expect that someday a developer is going to build another condo in front of you and block the view, a la Jomtien Complex. Nevertheless, you may find you can still live happily enough in your condo w/o the view--it was just wallpaper, you can still eat, sleep, watch TV and surf the 'net--and in a few years a depreciated value can perhaps be recovered or that you're still going to come out ahead of paying rent.

Everything doesn't mean SOL, contrary to the simplistic exaggerations in your post.

Before you say it: I'm not a real estate agent and have no connection whatsoever w/ any real estate agency.

[TommoPhysicist]

Please explain how financially renting is better than renting.

I've rented for the last 17 years and now realize that if we had bought somewhere it could have been paid by now.

OK here we go ............

Invest you money, fixed term Australian bank account about 5.5%, or Banking Bonds in Singapore about 8% (more if you like risk, but their are many investment options giving a large enough return to cover your rent)

At the end of 17 years you would still have the capital you would have used to buy a place you couldn't own.

Not forgetting the, would your much younger wife have still needed you after laying out a multi-million house in her name factor.

Edited June 13, 2012 by TommoPhysicist

[TommoPhysicist]

@simple1

I will report back to you in 1 year time. Don't worry. Everything will be ok.

Not every thai lady is shit.

But quite often the ones that want you to buy them a house, buy them a car and pay their parents and family not to work are.

[Soutpeel]

@simple1

I will report back to you in 1 year time. Don't worry. Everything will be ok.

Not every thai lady is shit.

But quite often the ones that want you to buy them a house, buy them a car and pay their parents and family not to work are.

Tommo...you are so cynical...the OP has already said he knows what he is doing, as she is different...We have to trust his judgment, it doesnt matter what is said...he will not believe you..