Whats Your Budget In Phuket?

[Old Croc]

Have you ever tried to cremate a buffalo? The cost is enormous.

I thought they ate them. Ive tried it and its not bad. Just ultra tough.

I've eaten buffalo steak in a restaurant in Darwin. Very tasty.

I think it's the same species.

[hansgruber]

Have you ever tried to cremate a buffalo? The cost is enormous.

I thought they ate them. Ive tried it and its not bad. Just ultra tough.

I've eaten buffalo steak in a restaurant in Darwin. Very tasty.

I think it's the same species.

Im sure Darwin would have the finest cuts from a young calf. I tried it in issan. Pretty sure it was a old plow puller that i ate.

[chasggg]

I still think the best one is US$73,000 a year for food alone..............bwahahaha.......

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

Edited January 16, 2013 by chasggg

[hansgruber]

I still think the best one is US$73,000 for food alone..............bwahahaha.......

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

A social life for a family of 4 which includes the food and drinks it quite reasonable.

Sorry that i dont want to feed me and my family somtum and pad thai 3 times a day.

Go troll somewhere else.

[pagallim]

I still think the best one is US$73,000 for food alone..............bwahahaha.......

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

A social life for a family of 4 which includes the food and drinks it quite reasonable.

Sorry that i dont want to feed me and my family somtum and pad thai 3 times a day.

Go troll somewhere else.

Kind of sounds like you need a hobby HG. Might I suggest......

[hansgruber]

I still think the best one is US$73,000 for food alone..............bwahahaha.......

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

A social life for a family of 4 which includes the food and drinks it quite reasonable.

Sorry that i dont want to feed me and my family somtum and pad thai 3 times a day.

Go troll somewhere else.

Kind of sounds like you need a hobby HG. Might I suggest......

I have too many hobbies already thanks.

[petercallen]

Have you ever tried to cremate a buffalo? The cost is enormous.

I thought they ate them. Ive tried it and its not bad. Just ultra tough.

That's right they eat them and want the money to buy a new one, the local beef is just as tough

[petercallen]

Have you ever tried to cremate a buffalo? The cost is enormous.

I thought they ate them. Ive tried it and its not bad. Just ultra tough.

I've eaten buffalo steak in a restaurant in Darwin. Very tasty.

I think it's the same species.

It is but they only serve the fillet steak which is the tenderest piece about 2 to 3KG per buffalo

[petercallen]

Its hard to think anyone would believe the b/s posted on chat forums

We spend approx 50K baht a month on everyday living expenses, this does not include things i consider a one of purchase like

vehicle, house, TV, computer, holidays etc

It includes eating out at normal restaurants and all other expenses both my wife and myself have what we want when we want

and my wife is not on a budget

I no longer send money to any members of my wife's family, dead buffalo or not

and do not pay rent or drink in bars

Dont pay rent?

No i have bought a house in Rawai, best way to go if you intend to live here long term

[IrishIvan]

Its hard to think anyone would believe the b/s posted on chat forums

We spend approx 50K baht a month on everyday living expenses, this does not include things i consider a one of purchase like

vehicle, house, TV, computer, holidays etc

It includes eating out at normal restaurants and all other expenses both my wife and myself have what we want when we want

and my wife is not on a budget

I no longer send money to any members of my wife's family, dead buffalo or not

and do not pay rent or drink in bars

Dont pay rent?

No i have bought a house in Rawai, best way to go if you intend to live here long term

How much for the house and how long do you expect to live for? If you bought for 10 million baht and only expect to live for 5 years then your better off renting

[LivinginKata]

Its hard to think anyone would believe the b/s posted on chat forums

We spend approx 50K baht a month on everyday living expenses, this does not include things i consider a one of purchase like

vehicle, house, TV, computer, holidays etc

It includes eating out at normal restaurants and all other expenses both my wife and myself have what we want when we want

and my wife is not on a budget

I no longer send money to any members of my wife's family, dead buffalo or not

and do not pay rent or drink in bars

Welcome back Peter. I am in complete agreement with your budget figures, much like my own. We both know each other quite well and we both have much the same way of life.

[petercallen]

Its hard to think anyone would believe the b/s posted on chat forums

We spend approx 50K baht a month on everyday living expenses, this does not include things i consider a one of purchase like

vehicle, house, TV, computer, holidays etc

It includes eating out at normal restaurants and all other expenses both my wife and myself have what we want when we want

and my wife is not on a budget

I no longer send money to any members of my wife's family, dead buffalo or not

and do not pay rent or drink in bars

Dont pay rent?

No i have bought a house in Rawai, best way to go if you intend to live here long term

How much for the house and how long do you expect to live for? If you bought for 10 million baht and only expect to live for 5 years then your better off renting

Who gives a stuff about how long you are going to live, its your lifestyle that's important in my opinion

If you can buy at the right price you are better of than renting when the house market changes and it will rents will go up substantially

Its not going to be a renters market for ever

[NamKangMan]

@ petercallen

I doubt rents will increase by much at all. There already is, and it appears there will continue to be, an oversupply of property on this island, thus keeping rents stable, if not pushing them down. This will be the same with house/apartment/condo sales as well.

[petercallen]

@ petercallen

I doubt rents will increase by much at all. There already is, and it appears there will continue to be, an oversupply of property on this island, thus keeping rents stable, if not pushing them down. This will be the same with house/apartment/condo sales as well.

The market will change when its hard to say, there are 5 houses next to me that they have been building for 2 years and are not finished

Original asking price 7.9 M he went as low as 6.1 M and is now asking 6.4M

To many people speculating in real estate here and the boom times have gone, the spec builders will disappear some already have

Real estate markets anywhere in the world have booms and busts usually over a 10 or 15 year period

[Jimi007]

@ petercallen

I doubt rents will increase by much at all. There already is, and it appears there will continue to be, an oversupply of property on this island, thus keeping rents stable, if not pushing them down. This will be the same with house/apartment/condo sales as well.

The market will change when its hard to say, there are 5 houses next to me that they have been building for 2 years and are not finished

Original asking price 7.9 M he went as low as 6.1 M and is now asking 6.4M

To many people speculating in real estate here and the boom times have gone, the spec builders will disappear some already have

Real estate markets anywhere in the world have booms and busts usually over a 10 or 15 year period

I have to agree with your comment about a 10 to 15 year cycle in housing as well as the economy. The old bat that I rent my house from thinks it's worth 6 M! Price going up soon... Good luck!

[gerry1011]

LIK.

Rent. 150k

House is 70k a month in upkeep 2 staff, bills, electric etc.

School fees are 50k a month (2 kids)

Wife gets 30k personal money.

Gas. 70 to 90k

Going out including dining. 120k

Other misc crap and it adds up.

Why do you think I'm not saving for a rainy day?

I live within my means.

Interesting...

I never thought about calculating how much I spend on average in a month.

I guess I must spend quite a lot on all the things that make my life easy, enjoyable and comfortable, as well as a few toys.

But I save a lot on the family side (I do not have a wife).

What is sure is that you beat me with the car fuel... In fact you probably beat everyone in this regard

However, when I use my boat it eats 30.000 baht of fuel... every hour (at 20 knots) ... And since I use the boat quite a lot, overall we might be "even"

As you said, the more you earn the more you spend. And I don't see anything wrong with that.

[NamKangMan]

@ petercallen

I doubt rents will increase by much at all. There already is, and it appears there will continue to be, an oversupply of property on this island, thus keeping rents stable, if not pushing them down. This will be the same with house/apartment/condo sales as well.

The market will change when its hard to say, there are 5 houses next to me that they have been building for 2 years and are not finished

Original asking price 7.9 M he went as low as 6.1 M and is now asking 6.4M

To many people speculating in real estate here and the boom times have gone, the spec builders will disappear some already have

Real estate markets anywhere in the world have booms and busts usually over a 10 or 15 year period

I remember this coming up in a thread a while ago.

You say, "who gives a stuff about how long you are going to live" - and that's right. Who knows? You could go tomorrow, or live another 20 years.

From memory, some members stated they were leaving the property to their missus, upon their demise - assuming she is Thai and probably a fair bit younger.

Most members would be of the believe that leaving the Phuket property to her would more than enough take care of her and her family, if sold or rented out, but, property is going to get harder and harder to turn over here and finding tenants will become competitive.

So, buying a property here and leaving it behind to someone maybe an asset that will be very hard to liquify (sell and turn into cash) and if you do live a long time into the future, you have less of your 30 land lease to sell to a potential buyer. Eitehr way, some problems for the missus.

Yes, property does have boom and bust cycles, but we saw a property "bubble" in Phuket and I believe there will be a serious market correction here in the near future. In fact, it's probably here now. As you mention, and I have also mentioned, there are many properties for sale, and have been for a long time, with continual decreases in listing price. Foreign ownership of land aside, eventually, the market will meet the vendors acceptance.

I'm not sure how low the market will go, but many are sitting on rapidly depreciating properties and will lose out in the future.

Edited January 16, 2013 by NamKangMan

[LivinginKata]

<snip>

Yes, property does have boom and bust cycles, but we saw a property "bubble" in Phuket and I believe there will be a serious market correction here in the near future. In fact, it's probably here now. As you mention, and I have also mentioned, there are many properties for sale, and have been for a long time, with continual decreases in listing price. Foreign ownership of land aside, eventually, the market will meet the vendors acceptance.

I'm not sure how low the market will go, but many are sitting on rapidly depreciating properties and will lose out in the future.

Lot of words of wisdom there. I've heard this 'bubble burst' talk for more than 15 years, and I think it's really here right now. And I'm one of those sitting on 'rapidly depreciating properties' - but I could easily sell for a lot more than we paid. Really all depends on your expectations.

[NamKangMan]

<snip>

Yes, property does have boom and bust cycles, but we saw a property "bubble" in Phuket and I believe there will be a serious market correction here in the near future. In fact, it's probably here now. As you mention, and I have also mentioned, there are many properties for sale, and have been for a long time, with continual decreases in listing price. Foreign ownership of land aside, eventually, the market will meet the vendors acceptance.

I'm not sure how low the market will go, but many are sitting on rapidly depreciating properties and will lose out in the future.

Lot of words of wisdom there. I've heard this 'bubble burst' talk for more than 15 years, and I think it's really here right now. And I'm one of those sitting on 'rapidly depreciating properties' - but I could easily sell for a lot more than we paid. Really all depends on your expectations.

If you bought in 15 years ago, your property would have appreciated considerably, but there's only 15 years left of the existing 30 year land lease - that's going to be the big "genie out of the bottle " here in the next few years when a lot of the guys who bought here in the late 80's early 90's have their 30 year land lease expire.

Does any member know of a case where an expat has had his 30 year land lease come to an end? If so, what happened?

Funny thing is LIK, the bubble has burst and they are still building more and more property here. It's severely downgrading propery values.

[LivinginKata]

If you bought in 15 years ago, your property would have appreciated considerably, but there's only 15 years left of the existing 30 year land lease - that's going to be the big "genie out of the bottle " here in the next few years when a lot of the guys who bought here in the late 80's early 90's have their 30 year land lease expire.

Does any member know of a case where an expat has had his 30 year land lease come to an end? If so, what happened?

Funny thing is LIK, the bubble has burst and they are still building more and more property here. It's severely downgrading propery values.

Good point. As it happens I did buy a 30 year lease the first month I ever visited Phuket (actually it was the first week). Seemed the best way as I knew nothing about Thailand property. I sold that lease for a profit 2 years later, and by that time I had a Thai company sorted out, and never leased again. Most guys I know with a 30 years lease don't care what happens as they will be dead by then and are quite happy to leave to a wife/partner/whatever. With their family back home already taken care of.

[NamKangMan]

If you bought in 15 years ago, your property would have appreciated considerably, but there's only 15 years left of the existing 30 year land lease - that's going to be the big "genie out of the bottle " here in the next few years when a lot of the guys who bought here in the late 80's early 90's have their 30 year land lease expire.

Does any member know of a case where an expat has had his 30 year land lease come to an end? If so, what happened?

Funny thing is LIK, the bubble has burst and they are still building more and more property here. It's severely downgrading propery values.

Good point. As it happens I did buy a 30 year lease the first month I ever visited Phuket (actually it was the first week). Seemed the best way as I knew nothing about Thailand property. I sold that lease for a profit 2 years later, and by that time I had a Thai company sorted out, and never leased again. Most guys I know with a 30 years lease don't care what happens as they will be dead by then and are quite happy to leave to a wife/partner/whatever. With their family back home already taken care of.

I mentioned a bit about that in post 77.

The guys that are going to have problems will be the ones that have 30 year land leases that have being living in the place for around 15 years and, for whatever reason, now want to sell.

They have 15 year old bricks and motar, and let's be honest, construction here is not to western standards, and would be aging quite badly, and they only have a short lease of 15 years left to sell with the land.

I can't see them being able to sell in a timely fashion, or selling for much of a profit. Their propery will be on the market for a long time, further decreasing the land lease. Not a great postition to be in, and as mentioned, when he passes away, he leaves this issue to his missus, although being Thai, she can own the land.

[NamKangMan]

If you bought in 15 years ago, your property would have appreciated considerably, but there's only 15 years left of the existing 30 year land lease - that's going to be the big "genie out of the bottle " here in the next few years when a lot of the guys who bought here in the late 80's early 90's have their 30 year land lease expire.

Does any member know of a case where an expat has had his 30 year land lease come to an end? If so, what happened?

Funny thing is LIK, the bubble has burst and they are still building more and more property here. It's severely downgrading propery values.

Good point. As it happens I did buy a 30 year lease the first month I ever visited Phuket (actually it was the first week). Seemed the best way as I knew nothing about Thailand property. I sold that lease for a profit 2 years later, and by that time I had a Thai company sorted out, and never leased again. Most guys I know with a 30 years lease don't care what happens as they will be dead by then and are quite happy to leave to a wife/partner/whatever. With their family back home already taken care of.

There was an article on the PG website today with some basic information about this.

http://www.phuketgazette.net/phuketproperty/2013/Phuket-Property-Legal-Collective-Leasehold-Structures-Overview-19982.html

The three things that stand out for are:

1) Only the first 30 year can be registered. The subsequent 30 year lease is a private contract with the Thai landowner.

2) If the Thai landowner sells the land, the new owner does not have to honour any contracts with a previous owner.

3) If you join a "collective leasehold structure" you still only have the minority vote. Eg. 49% ownership and the Thai landowner has 51%. You may share in more of the profits, upon sale, but you will obviously pay more for your share in the structure and still not be able to outvote the Thai landowner.

In relation to the next 30 years lease, after you first lease expires, all the Thai landowner has to do is sell the land to his wife, kids, brother, sister etc and he escapes contractual obligation to honour a consecutive 30 years lease. At that point, you either pay again to use the land, or leave the property.

For me, either method still falls short of any freehold ownership with security, hence, my decision to rent here.

[steelepulse]

If you bought in 15 years ago, your property would have appreciated considerably, but there's only 15 years left of the existing 30 year land lease - that's going to be the big "genie out of the bottle " here in the next few years when a lot of the guys who bought here in the late 80's early 90's have their 30 year land lease expire.

Does any member know of a case where an expat has had his 30 year land lease come to an end? If so, what happened?

Funny thing is LIK, the bubble has burst and they are still building more and more property here. It's severely downgrading propery values.

Good point. As it happens I did buy a 30 year lease the first month I ever visited Phuket (actually it was the first week). Seemed the best way as I knew nothing about Thailand property. I sold that lease for a profit 2 years later, and by that time I had a Thai company sorted out, and never leased again. Most guys I know with a 30 years lease don't care what happens as they will be dead by then and are quite happy to leave to a wife/partner/whatever. With their family back home already taken care of.

There was an article on the PG website today with some basic information about this.

http://www.phuketgaz...view-19982.html

The three things that stand out for are:

1) Only the first 30 year can be registered. The subsequent 30 year lease is a private contract with the Thai landowner.

2) If the Thai landowner sells the land, the new owner does not have to honour any contracts with a previous owner.

3) If you join a "collective leasehold structure" you still only have the minority vote. Eg. 49% ownership and the Thai landowner has 51%. You may share in more of the profits, upon sale, but you will obviously pay more for your share in the structure and still not be able to outvote the Thai landowner.

In relation to the next 30 years lease, after you first lease expires, all the Thai landowner has to do is sell the land to his wife, kids, brother, sister etc and he escapes contractual obligation to honour a consecutive 30 years lease. At that point, you either pay again to use the land, or leave the property.

For me, either method still falls short of any freehold ownership with security, hence, my decision to rent here.

I'm curious as to how many people opted for the 30 year lease vs the Thai company route, putting it in the Mrs. name, getting an usefruct etc. I have a feeling most buyers bought via a Thai registered company or put it in the Mrs. name.

I also recall hansgruber speaking about Club Med reupping their 30 year lease. Surely if there was a property that a local wanted to take over it would be that prime piece of real estate, regardless if they are an international corp or not.

[LivinginKata]

You really think Club Med has no Thai holding company. Really ....

[IrishIvan]

Ive been doing a bit of thinking and going through some stuff and I would have to actually say my budget would be between 60-90k a month every month. Before I was only really factoring in booze and entertainment. I forgot all the other small things that you dont take notice of, but really start to add up, like maintaining a TGF for starters!!

I notice with amusement some of the real estate tycoons scoffing at one member who stated he pays 150,000 baht a month rent, isn't that a similar price to what you guys stated you rake in a month from your investments. If someone can afford to pay 150k in rent then I'm sure that wouldn't be their biggest out going expense.

I pay a 3rd of my total expenses in rent and power, petrol is actually close to my rent some months! Entertainment is always one of the biggest, but you got to have a life.

Staff salaries, but I hadnt always count that as they actually make me money. But if you add up what you actually spend its quite a lot. Even eating out adds up, me and the TGF eating breakfast is 600-700 baht which we do almost every day, then dinner might be 1000-1500. Lunch could be a Thai rice dish or something 200-300 baht.

[Naam]

Interesting...

I never thought about calculating how much I spend on average in a month.

I guess I must spend quite a lot on all the things that make my life easy, enjoyable and comfortable, as well as a few toys.

But I save a lot on the family side (I do not have a wife).

What is sure is that you beat me with the car fuel... In fact you probably beat everyone in this regard

However, when I use my boat it eats 30.000 baht of fuel... every hour (at 20 knots) ... And since I use the boat quite a lot, overall we might be "even"

As you said, the more you earn the more you spend. And I don't see anything wrong with that.

interesting! you own and use a small aircraft carrier for leisure cruises who's engines gobble up 600 liters of premium 95 octane fuel? whom are you trying to bullsh*t man?

i had a 36' powered by two 400HP Volvos which burned around 90 liters an hour at full blast.

[LaoPo]

so do you commute daily to bangkok or do you own 2 hummers?

Yes, with a 747-400

[LaoPo]

LIK.

Rent. 150k

House is 70k a month in upkeep 2 staff, bills, electric etc.

School fees are 50k a month (2 kids)

Wife gets 30k personal money.

Gas. 70 to 90k

Going out including dining. 120k

Other misc crap and it adds up.

Why do you think I'm not saving for a rainy day?

I live within my means.

The home & school expenses - OK. Tanking up on gas at least once each day - really. Up to you what you want to send up north - after all they need to equal your lifestyle. I'm happy to you that you have that sort of life style - may it last forever.

I answered this.

Wife uses a tank every 2 days @ 1500 baht a tank. So 750 baht a day. Her car is 2000cc.

My car uses a tank per day if im running from Kata noi to town and then the kids to PIA and pick them up. Im lucky to get 230 kilometres from a gas guzzling 6300cc engine sitting in traffic. It drinks 95 V Power like it evaporates and its 2200 to 2300 a tank depending on price.

I dont need to come on here and lie. I thought it was a decent topic but i understand money either angers people or they envy it. Weird.

No Sir, it's your bling-bling show-off attitude that attracts members to comment and that's to be expected if you behave like you do telling everybody how much money you have and spend.

Modesty, style and class is an art that you do not master and probably never will

[bubblegum]

This makes very funny reading, I'm amazed by the fantasies people have. Jolly good good fun !

What that you say ? They actually mean what they say ??

OOPS my mistake.

[hansgruber]

LIK.

Rent. 150k

House is 70k a month in upkeep 2 staff, bills, electric etc.

School fees are 50k a month (2 kids)

Wife gets 30k personal money.

Gas. 70 to 90k

Going out including dining. 120k

Other misc crap and it adds up.

Why do you think I'm not saving for a rainy day?

I live within my means.

The home & school expenses - OK. Tanking up on gas at least once each day - really. Up to you what you want to send up north - after all they need to equal your lifestyle. I'm happy to you that you have that sort of life style - may it last forever.

I answered this.

Wife uses a tank every 2 days @ 1500 baht a tank. So 750 baht a day. Her car is 2000cc.

My car uses a tank per day if im running from Kata noi to town and then the kids to PIA and pick them up. Im lucky to get 230 kilometres from a gas guzzling 6300cc engine sitting in traffic. It drinks 95 V Power like it evaporates and its 2200 to 2300 a tank depending on price.

I dont need to come on here and lie. I thought it was a decent topic but i understand money either angers people or they envy it. Weird.

No Sir, it's your bling-bling show-off attitude that attracts members to comment and that's to be expected if you behave like you do telling everybody how much money you have and spend.

Modesty, style and class is an art that you do not master and probably never will

Ok. Ill bling bling it down. Maybe the Mr T gold chains are too much.