Wife Makes 40K P/M. What Sort Of Mortgage Can She Get?

[thunder30101]

We just bought a new house after looking for quite some time at houses less than ten years old. When you factor in all the refurbishment costs-paint, plumbing, roof repair, concrete rework, new ac's etc etc, it was just not cost effective to buy a ten yr old house, we would have spent more on rehab than the difference in price for new. Then with interest rates much cheaper on new construction it was a no brainer which to choose. W11 you must sell houses here as what you dont want to say is that thais do not do any upkeep or repair of their houses, they will let them fall apart and just dont care about fixing them ( but to be fair many of them just dont have the money to do it), all you have to do is drive thru any housing estate and see the decay after even just 5 years. We will keep this one for 3-5 years and then sell it to buy another new one hopefully keeping it in good enough shape to make a small profit to upgrade to something better, I always laugh when I drive by a massive paint store and wonder who even buys all that paint because no house we looked at had been painted since new either inside or out.

[meand]

That "owning a house" verbiage we use is so off too. You'll own it in 10 or 20 years anyway, assuming ALL goes well, every single month, and assuming the house doesn't fall apart, flood or burn. Structures are made so poorly here, who wants to own them? Renting is great in Thailand. I would think you could get a 2M baht loan with about 2 or 3 hundred thousand down. Payments maybe 15k per month.

That is a load of garbage. Have you ever been to Thailand? Most are still standing after much longer than that and many are very valuable. So you think they were stupid to buy a house that is now worth a small fortune? Obviously finance isn't your strong point.

If I may paraphrase your post. "Thai real estate is a great bet, and the actual real estate itself it extremely well built." Ok buddy -- amazing what you can get bad designers and 20 baht an hour workers to do, huh?

Edited July 11, 2012 by meand