2.5 - 4 Million Condo...where Would You Buy

[DonW]

Hello Room,

If you had between 2.5 to around 4 million for a condo purchase in Bangkok, where would you buy?

Three points to consider would be that the condo must not be 'off plan' also, it needs to be in an area where it has potential to be let to an expat and finally I'd like, if at all possible, to have 2 bedrooms (one of which can be quite small).

Thanks and appreciate your thoughts on that.

Lastly, does anyone know if the Bangkok Bank still does mortgages to farangs with Thai partners? Years ago it used to but the mortgage was out of the Singapore office.

Cheers

[wamberal]

Don't buy, rent.

[CMweb]

Why you buy in Bangkok?

Invest for much less money in Chiang Mai, the upcoming city in Thailand

We have some condos for sale, compare prices http://www.buyrentchiangmai.com

[ExpatOilWorker]

Check out the lease hold buldings at Ratchadamri. I saw a nice unit at 28th floor, 64 m2 for 2.7 M.

Down side is that there is only about 15-17 years left on the lease, but then just consider it long term rent where you are the landlord of your own unit.

[OZEMADE]

Buy in Pattaya where the tourism is always booming or now even Jomtien. No floods like Bangkok and one of the biggest shopping centres in Thailand

Yes the Bangkok Bank still does loans. But you can own a condo in your own name in Thailand.

Don't make the mistake of putting it in your Thai partners name.

Edited October 1, 2012 by OZEMADE

[CharlieH]

Waste of Money, rent one when you need it.

[MRTELLYOUSTRAIGHT]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

[CharlieH]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

So, more money than sense and no self control, seems like a disaster waiting to happen ...anywhere.

You could rent one continuously for 10 years + and not spend 2mil. Put the capital to earn elsewhere and rent is my opinion.

[MRTELLYOUSTRAIGHT]

You could also invest capital to earn elsewhere and still buy yourself a safety cushion 'just in-case'. But if you can't afford to do that then yes I would agree.

[rattler]

You wont get that much any more for 4 million in BKK.

If next to the BTS start about 2+ for studio.

That said I know this owner who is selling some of his and he'll do it at cost price no commissions he isn't an agent he's the actual owner.

http://www.bangkoksbestcondos.com/?page=sales

[Rooo]

Why would you need to borrow money if you are all cashed up , according to your post here:

http://www.thaivisa.com/forum/topic/588119-a-million-dollars-net-worth-in-thailand/

[Ch23]

Ratchada, Param 9. A great area of bkk in my opinion. Loads to do, you've got the subway, good food, supermarket & 20 mins from swampy (on a good run). The whole area is being regenerated. wish i had brought some property there 4 years ago probably be worth double by now.

Only down side is traffic during the day; a piggy back by an elderly snail on crutches would be faster... but then u got the subway so who cares

[MJP]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

I really don't think you should be contemplating a long term/permanent stay in Thailand if you think there's a chance that one day you could be penniless. 'Owning' an apartment won't make a difference, you'll still have to pay service charges and utility bills.

I concur with others who say rent. Definitely rent.

[rattler]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

I really don't think you should be contemplating a long term/permanent stay in Thailand if you think there's a chance that one day you could be penniless. 'Owning' an apartment won't make a difference, you'll still have to pay service charges and utility bills.

I concur with others who say rent. Definitely rent.

But then when he is flat broke he could at least sell or rent the condo out or even share.

[MJP]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

I really don't think you should be contemplating a long term/permanent stay in Thailand if you think there's a chance that one day you could be penniless. 'Owning' an apartment won't make a difference, you'll still have to pay service charges and utility bills.

I concur with others who say rent. Definitely rent.

But then when he is flat broke he could at least sell or rent the condo out or even share.

That's true. He could do that. But then when that capital has gone, what then?

Fact is to live in Thailand you either need to be working there or be retired on a good and secure pension.

[rattler]

Well he wouldn't be under the freeway trying to sleep with the soi dogs.

The thing is I have seen a fair few end up with NOTHING here, yet still they try to cling on to staying in Thailand.

[mogandave]

If you can't pay the accociation fees you would be on the street.

You wnat somthing for hard times, get a safety box at the bank and buy a little gold.

[MRTELLYOUSTRAIGHT]

Got one mate with a little gold in here, and some 10 baht bars stashed up in my home country, not much i know but something. A little cash stashed up in neighboring countries to Thailand, bits and pieces all around me 'just in case'. A steady income from a family business but that's not guaranteed for the next 20 years. A nice bit of savings from grafting hard for the last 30 years. I will be safe as houses as they say once i get my inheritance if the family don't blow it all before the time comes. Nothings certain in life you can't make guarantees i like to be as safe as i possibly can living on the other side of the world by owning my own place to stay if i ever need it. I can move around freely and 'do what i want' but if the shit hits the fan i got a roof over my head regardless.

There's no denying what im doing is called sensible, thinking ahead just in case something goes terribly wrong, i never said that it will happen but you never know. Ive met lots of folk here that have lost all their money buy being ripped off, ATM scammed, robbed you name it I've heard it all. Not me, I'm two steps in front.

I will never be the sucker in the bar with the long face that hates all Thai because they was mugged off, not me, never in a million years.

[Semper]

Why would you need to borrow money if you are all cashed up , according to your post here:

http://www.thaivisa....th-in-thailand/

Troll, attention seeker....

[chris2004]

Bangkok will soon be under water. Don't buy there.

[DonW]

Buy in Pattaya where the tourism is always booming or now even Jomtien. No floods like Bangkok and one of the biggest shopping centres in Thailand

Yes the Bangkok Bank still does loans. But you can own a condo in your own name in Thailand.

Don't make the mistake of putting it in your Thai partners name.

Hi Ozemade

IS that Bangkok bank in Singapore or is it now possible to raise a mortgage with the BB in Thailand?

As for your assertion about my wife, fortunately, not all farangs are in one of 'those kind' of relationships. We have been married since we were 21 - my wife is my soul mate.

[DonW]

You wont get that much any more for 4 million in BKK.

If next to the BTS start about 2+ for studio.

That said I know this owner who is selling some of his and he'll do it at cost price no commissions he isn't an agent he's the actual owner.

http://www.bangkoksb...com/?page=sales

Cheers Rattler, thanks for that.

[DonW]

Why would you need to borrow money if you are all cashed up , according to your post here:

http://www.thaivisa....th-in-thailand/

Roo - basic rule of business, when you are making an investment (IE a rental property), where possible, always use someone else's money. And be doing so, my assets can be invested elsewhere if necessary. You just always need to find the right mix of finance

[DonW]

Ratchada, Param 9. A great area of bkk in my opinion. Loads to do, you've got the subway, good food, supermarket & 20 mins from swampy (on a good run). The whole area is being regenerated. wish i had brought some property there 4 years ago probably be worth double by now.

Only down side is traffic during the day; a piggy back by an elderly snail on crutches would be faster... but then u got the subway so who cares

Great stuff - thank you.

[farang000999]

Roo - basic rule of business, when you are making an investment (IE a rental property), where possible, always use someone else's money. And be doing so, my assets can be invested elsewhere if necessary. You just always need to find the right mix of finance

then when your other investments go south cause the economy crashes and you cant afford the mortgage payments you lose what you already put into the condo. a bank in asia is not going to lend a farang money for property unless he invests enough into so that they have the required collateral to make the loan and i would imagine the terms of the loan will not be overly favorable to boot.

Edited October 4, 2012 by farang000999

[DonW]

Roo - basic rule of business, when you are making an investment (IE a rental property), where possible, always use someone else's money. And be doing so, my assets can be invested elsewhere if necessary. You just always need to find the right mix of finance

then when your other investments go south cause the economy crashes and you cant afford the mortgage payments you lose what you already put into the condo. a bank in asia is not going to lend a farang money for property unless he invests enough into so that they have the required collateral to make the loan and i would imagine the terms of the loan will not be overly favorable to boot.

Investments going south depends on the investments mix and the level of assumed risk.

Economies crashing too?

Can't afford mortgage payments on a 4 mill THB condo? And can't rent it also?

A bank in Asia or anywhere for that matter work to the same proviso.

I am kind of missing the point you are making here......

[trogers]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

I really don't think you should be contemplating a long term/permanent stay in Thailand if you think there's a chance that one day you could be penniless. 'Owning' an apartment won't make a difference, you'll still have to pay service charges and utility bills.

I concur with others who say rent. Definitely rent.

But then when he is flat broke he could at least sell or rent the condo out or even share.

If you have Bt4m cash, you can get a 2-bedroom condo for about Bt3.8m with the balance Bt200k for transfer fees, some paint job and furnishings.

Should you go broke, you can rent it out for Bt20k and getting net cash of Bt16k after agent's and common fees. Rent a Bt5k apartment studio to live, and save Bt5k a month to cover periods of no rents between tenants and still have Bt6k a month to spend.

[rattler]

If you can't pay the accociation fees you would be on the street.

You wnat somthing for hard times, get a safety box at the bank and buy a little gold.

Many don't pay the fees and drag it out for a LONG time as in years not months.

[DonW]

Thanks Gents

[johnnyk]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

Renting wasn't his problem. Lack of money management skills more likely the culprit. Maybe too much booze also. That has a way of eroding judgement.