Anyproperty Valuation

[ttl]

Any ideas please as to HOW and WHERE I can gat a proerty valuation for land bought for my wife (of course)5 y3ars ago. Now has a house, garage and shop. We live in Mukdahan area. Seem only able to find the purchase price we paid for land alone. Thanks

[PattayaPhom]

Plus build cost, you got a rough idea.......

[davejones]

Plus build cost, you got a rough idea.......

Local estate agents should have a good idea of prices. Also, ask local people that have sold land/property recently.

[rgs2001uk]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

[PattayaPhom]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

A guide used by developers the world over is land + build + 40% = resale value so she isnt far out...however in NE Thailand that probably dosnt run true as most will purchase land and build themselves as the OP has, hence resale value is restricted.

[davejones]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

Nothing wrong with that. Why would someone go to the trouble of buying land and building a house if they weren't going to make a profit when selling it. That's what property development is all about. Nearly everyone buys property this way, because they don't want the hassle of buying land and building a house. If you live in a house or condo, then you paid more than cost of land + cost of build. Why would a developer work for nothing?

Or have I misunderstood your comment?

Edited February 18, 2013 by davejones

[rgs2001uk]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

Nothing wrong with that. Why would someone go to the trouble of buying land and building a house if they weren't going to make a profit when selling it. That's what property development is all about. Nearly everyone buys property this way, because they don't want the hassle of buying land and building a house. If you live in a house or condo, then you paid more than cost of land + cost of build. Why would a developer work for nothing?

Or have I misunderstood your comment?

The woman already owned house and land, house falling apart, decides to rebuild.

Employs building comapny, she starts to run out of money, over budget etc, house eventually finished, not built to spec or design.

She was no developer, she is just trying to get rid of an abomination of a property.

The locals know exactly what the land is worth, many Thais think the same way.

Anyway this doesnt answer the OPs question, he hasnt mentioned the type of land deed held.

He may well have a chanote thats worth 4 times the price of gov't land.

[jamescollister]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

Nothing wrong with that. Why would someone go to the trouble of buying land and building a house if they weren't going to make a profit when selling it. That's what property development is all about. Nearly everyone buys property this way, because they don't want the hassle of buying land and building a house. If you live in a house or condo, then you paid more than cost of land + cost of build. Why would a developer work for nothing?

Or have I misunderstood your comment?

General rule here, Thais don't like secondhand anything. Sometimes land and house will sell for less than clear land. Reasoning is you have to pay to knock down and clear the old one away, plus houses where someone has died young or in bad circumstances will have a ghost.

I have never understood the reasoning, but buying and selling houses is a different mindset to the western way. Jim

Edited February 18, 2013 by jamescollister

[davejones]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

Nothing wrong with that. Why would someone go to the trouble of buying land and building a house if they weren't going to make a profit when selling it. That's what property development is all about. Nearly everyone buys property this way, because they don't want the hassle of buying land and building a house. If you live in a house or condo, then you paid more than cost of land + cost of build. Why would a developer work for nothing?

Or have I misunderstood your comment?

General rule here, Thais don't like secondhand anything. Sometimes land and house will sell for less than clear land. Reasoning is you have to pay to knock down and clear the old one away, plus houses where someone has died young or in bad circumstances will have a ghost.

I have never understood the reasoning, but buying and selling houses is a different mindset to the western way. Jim

I think that's a bit of a myth. I know of about 15-20 2nd hand houses that have been bought by Thais, and not a single one has been knocked down and rebuilt. It's bound to happen, but t's a tiny percentage. The average Thai just can't afford to knock down a house and rebuild it. If it was true, we'd see plenty of new houses among all the old stock. But look around, and what you mostly see is old houses. Thousands and thousands of them. Next to no new houses at all. New condos maybe, not individual houses that have been knocked down and rebuilt.

[jamescollister]

Dj, don't know where you live, but out here know one buys secondhand houses, maybe shop house for business. Lots of new homes being built, no condos out this way. This is Issan not BKK. Jim

[davejones]

Dj, don't know where you live, but out here know one buys secondhand houses, maybe shop house for business. Lots of new homes being built, no condos out this way. This is Issan not BKK. Jim

Your original comment said Thais, so I assumed you mean everyone in Thailand. People certainly don't seem to be knocking down houses in Bangkok, so I assume they're happy to live in 2nd hand homes. Maybe they think differently in Isaan, but where do they get the money from if they're relatively poor?

[rgs2001uk]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

A guide used by developers the world over is land + build + 40% = resale value so she isnt far out...however in NE Thailand that probably dosnt run true as most will purchase land and build themselves as the OP has, hence resale value is restricted.

I dont doubt your figures, however this aint Kansas.

Can someone please tell me, why land on one side of a wall is worth 3 4 or 5 times the land on the other side of the wall.

[rgs2001uk]

Plus build cost, you got a rough idea.......

Up the road from me a woman with land worth 2.5 million just put a house that cost 2.5 to build on the land.

She is now trying to sell for 6.5 million, work that out.

Nothing wrong with that. Why would someone go to the trouble of buying land and building a house if they weren't going to make a profit when selling it. That's what property development is all about. Nearly everyone buys property this way, because they don't want the hassle of buying land and building a house. If you live in a house or condo, then you paid more than cost of land + cost of build. Why would a developer work for nothing?

Or have I misunderstood your comment?

General rule here, Thais don't like secondhand anything. Sometimes land and house will sell for less than clear land. Reasoning is you have to pay to knock down and clear the old one away, plus houses where someone has died young or in bad circumstances will have a ghost.

I have never understood the reasoning, but buying and selling houses is a different mindset to the western way. Jim

Sorry Jim, here in Bkk, you dont pay, a company pays you to knock down your house and take away the recyclables, wood, doors, windows, electrics, etc etc, going rate is about 50k per house they pay you for the privelege of knocking down your house.

Agree with your final comment about the Thai mindset being different to farang, how many farang are familiar with Thai feng shui?

[davejones]

I dont doubt your figures, however this aint Kansas.

Can someone please tell me, why land on one side of a wall is worth 3 4 or 5 times the land on the other side of the wall.

Other side of which wall? Do you mean plots next to each other? Maybe one has planning permission and one doesn't. When you say "worth", what do you mean? Asking price or selling price? If asking price, then one is probably asking too much.

[rgs2001uk]

I dont doubt your figures, however this aint Kansas.

Can someone please tell me, why land on one side of a wall is worth 3 4 or 5 times the land on the other side of the wall.

Other side of which wall? Do you mean plots next to each other? Maybe one has planning permission and one doesn't. When you say "worth", what do you mean? Asking price or selling price? If asking price, then one is probably asking too much.

No I am talking about land outside the perimeter wall of a moo baan development.

I can go to lets say Min Buri and buy land for 10k per tw, why is the same land inside a moo baan being quoted as being worth 40 or 50k?

[rgs2001uk]

For our Thai property experts, please tell me what is wrong with this house and how much it will cost to rectify the problem?

The picture is taken from inside the living room looking outside onto the street.

[davejones]

I dont doubt your figures, however this aint Kansas.

Can someone please tell me, why land on one side of a wall is worth 3 4 or 5 times the land on the other side of the wall.

Other side of which wall? Do you mean plots next to each other? Maybe one has planning permission and one doesn't. When you say "worth", what do you mean? Asking price or selling price? If asking price, then one is probably asking too much.

No I am talking about land outside the perimeter wall of a moo baan development.

I can go to lets say Min Buri and buy land for 10k per tw, why is the same land inside a moo baan being quoted as being worth 40 or 50k?

Maybe because the roads, electricity, water, etc have all be laid. And maybe people feel safer in a moo baan development. Just guessing though. Maybe people are too lazy to check prices. So they see something advertised heavily and just buy it. Solution - buy a lot of land, develop a moo baan, and sell off the plots for 4-5 times what you paid.

[jamescollister]

Dj, don't know where you live, but out here know one buys secondhand houses, maybe shop house for business. Lots of new homes being built, no condos out this way. This is Issan not BKK. Jim

Your original comment said Thais, so I assumed you mean everyone in Thailand. People certainly don't seem to be knocking down houses in Bangkok, so I assume they're happy to live in 2nd hand homes. Maybe they think differently in Isaan, but where do they get the money from if they're relatively poor?

I live about 140 km S/E of Ubon, but when I go to Ubon the traffic is hell, mostly new cars. Next village from me 400 huts, homes bought, 70 brand new cars in 2011. Our village smaller has new or year or 2 old cars under many the huts, some have 2 or 3. The guy doing or tiling at the moment just bought a brand new red plate Toyota Hilux. How they make the payments is beyond me, No tax, not real food bills, no electricity bills, still out here if you use little you don't pay.

In my whole working life never owned a house, paid mortgages, never owned a new car. Here bought a new Pajero [2 years ago ] have a big, not to fancy house. Don't get a penny from the west, make our living here.

Not saying all Thais are flush, but those who get off their ass are doing ok, it's booming around my way. Some are happy to live in the old way, others are taking the opportunity. Jim

[rgs2001uk]

Maybe because the roads, electricity, water, etc have all be laid. And maybe people feel safer in a moo baan development. Just guessing though. Maybe people are too lazy to check prices. So they see something advertised heavily and just buy it. Solution - buy a lot of land, develop a moo baan, and sell off the plots for 4-5 times what you paid.

Maybe, outside the perimeter wall of the moo baan all these services are already in place.

Maybe people arent buying a house, maybe they are buying finance offered by these developers.

Maybe the same people who cant afford 40k for a new Fino, so they pay 3k per month for the next 3 years and end up paying 3 times the purchase price.

Maybe the cost of "Face" isnt really worth it?

I went with the mrs a good few years ago to look at a property. No discount for a cash payment to the value right now, these "pretties" were only thinking commision of selling finance.

[davejones]

Maybe because the roads, electricity, water, etc have all be laid. And maybe people feel safer in a moo baan development. Just guessing though. Maybe people are too lazy to check prices. So they see something advertised heavily and just buy it. Solution - buy a lot of land, develop a moo baan, and sell off the plots for 4-5 times what you paid.

Maybe, outside the perimeter wall of the moo baan all these services are already in place.

Maybe people arent buying a house, maybe they are buying finance offered by these developers.

Maybe the same people who cant afford 40k for a new Fino, so they pay 3k per month for the next 3 years and end up paying 3 times the purchase price.

Maybe the cost of "Face" isnt really worth it?

I went with the mrs a good few years ago to look at a property. No discount for a cash payment to the value right now, these "pretties" were only thinking commision of selling finance.

It's certainly a bit different from the uk.

[davejones]

Dj, don't know where you live, but out here know one buys secondhand houses, maybe shop house for business. Lots of new homes being built, no condos out this way. This is Issan not BKK. Jim

Your original comment said Thais, so I assumed you mean everyone in Thailand. People certainly don't seem to be knocking down houses in Bangkok, so I assume they're happy to live in 2nd hand homes. Maybe they think differently in Isaan, but where do they get the money from if they're relatively poor?

I live about 140 km S/E of Ubon, but when I go to Ubon the traffic is hell, mostly new cars. Next village from me 400 huts, homes bought, 70 brand new cars in 2011. Our village smaller has new or year or 2 old cars under many the huts, some have 2 or 3. The guy doing or tiling at the moment just bought a brand new red plate Toyota Hilux. How they make the payments is beyond me, No tax, not real food bills, no electricity bills, still out here if you use little you don't pay.

In my whole working life never owned a house, paid mortgages, never owned a new car. Here bought a new Pajero [2 years ago ] have a big, not to fancy house. Don't get a penny from the west, make our living here.

Not saying all Thais are flush, but those who get off their ass are doing ok, it's booming around my way. Some are happy to live in the old way, others are taking the opportunity. Jim

That's quite interesting. I often wonder how people can afford new cars when they don't seem to earn much. I've asked my gf about certain people she knows that have bought new cars, and all of them seem to live a quite frugal life, apart from new car and new phone. Many have never been outside Thailand because they can't afford it, yet they can afford a new car. I'd pick overseas traveling over a car any day. I suppose a lot is down to how the choose to spend their money. To me, it seems madness to splash out on a new car when you're earning 30K/month. But many seem happy to do that. It doesn't matter that their house may be falling down, as a new car comes first. Seems very odd to me.

Edited February 18, 2013 by davejones

[davejones]

For our Thai property experts, please tell me what is wrong with this house and how much it will cost to rectify the problem?

The picture is taken from inside the living room looking outside onto the street.

I give up. What's wrong with it?

[rgs2001uk]

For our Thai property experts, please tell me what is wrong with this house and how much it will cost to rectify the problem?

The picture is taken from inside the living room looking outside onto the street.

I give up. What's wrong with it?

Dave, no offence matey, but as I said, I await our farang Thai property experts to tell me.

FYI, I have already PMd a poster with the answer, will post the answer tomorrow.

Cheers.

PS, have you ever spent any time in Issan?

[davejones]

PS, have you ever spent any time in Issan?

About a week, so I'm no expert on that region.

[jamescollister]

Dj, don't know where you live, but out here know one buys secondhand houses, maybe shop house for business. Lots of new homes being built, no condos out this way. This is Issan not BKK. Jim

Your original comment said Thais, so I assumed you mean everyone in Thailand. People certainly don't seem to be knocking down houses in Bangkok, so I assume they're happy to live in 2nd hand homes. Maybe they think differently in Isaan, but where do they get the money from if they're relatively poor?

I live about 140 km S/E of Ubon, but when I go to Ubon the traffic is hell, mostly new cars. Next village from me 400 huts, homes bought, 70 brand new cars in 2011. Our village smaller has new or year or 2 old cars under many the huts, some have 2 or 3. The guy doing or tiling at the moment just bought a brand new red plate Toyota Hilux. How they make the payments is beyond me, No tax, not real food bills, no electricity bills, still out here if you use little you don't pay.

In my whole working life never owned a house, paid mortgages, never owned a new car. Here bought a new Pajero [2 years ago ] have a big, not to fancy house. Don't get a penny from the west, make our living here.

Not saying all Thais are flush, but those who get off their ass are doing ok, it's booming around my way. Some are happy to live in the old way, others are taking the opportunity. Jim

That's quite interesting. I often wonder how people can afford new cars when they don't seem to earn much. I've asked my gf about certain people she knows that have bought new cars, and all of them seem to live a quite frugal life, apart from new car and new phone. Many have never been outside Thailand because they can't afford it, yet they can afford a new car. I'd pick overseas traveling over a car any day. I suppose a lot is down to how the choose to spend their money. To me, it seems madness to splash out on a new car when you're earning 30K/month. But many seem happy to do that. It doesn't matter that their house may be falling down, as a new car comes first. Seems very odd to me.

When we bought the big Pajero sport, it was not the car of my choice, I wanted a Honda hatch back. Take the kids to school, do the shopping etc. FIL , who lives with us or maybe we live with him [ his land ] thought it would be a total loss of face if we had the smallest car in the village. He was happy to live another hard life, when re born to have a big or biggest car in the village.

I am a weak man when it comes to the wife and in hindsight probably a better car in an area that has bad roads, floods and can stick the whole family [7 seat ] in the car instead of the back of a pickup truck.. Better to drive for me as well, pickup has no power steering. That's life. Jim

[Farma]

An experience a few weeks ago made me wonder how banks obtain property valuations.

Out of the blue my wife recieved a call from a bank asking her what she thought land in an area she owns land in is now worth. My wife maybe an expert in some things but property valuation isn't one of them.

The bank had a customer wishing to take out a loan on some property and on looking through their files discovered 3 years ago my wife had taken out a loan (paid off 2 years ago) for property nearby.

At the time my wife bought she was the banks only customer for that area and they managed to do an evaluation then. How they did it then i've got no idea.

[David48]

For our Thai property experts, please tell me what is wrong with this house and how much it will cost to rectify the problem?

The picture is taken from inside the living room looking outside onto the street.

I'll be brave enough to publically reply.

The entry point onto the land aligns with the entry point into the dwelling.

Thais, somehow don't like this.

Am I warm?

BTW, I'm not a 'Thai property experts' ... but I'm adapting ...

.

[PattayaPhom]

I dont doubt your figures, however this aint Kansas.

Can someone please tell me, why land on one side of a wall is worth 3 4 or 5 times the land on the other side of the wall.

Other side of which wall? Do you mean plots next to each other? Maybe one has planning permission and one doesn't. When you say "worth", what do you mean? Asking price or selling price? If asking price, then one is probably asking too much.

No I am talking about land outside the perimeter wall of a moo baan development.

I can go to lets say Min Buri and buy land for 10k per tw, why is the same land inside a moo baan being quoted as being worth 40 or 50k?

20 Mil a Rai in a Moo Baan in Min Buri...

[StefanBBK]

I dont doubt your figures, however this aint Kansas.

Can someone please tell me, why land on one side of a wall is worth 3 4 or 5 times the land on the other side of the wall.

Other side of which wall? Do you mean plots next to each other? Maybe one has planning permission and one doesn't. When you say "worth", what do you mean? Asking price or selling price? If asking price, then one is probably asking too much.

No I am talking about land outside the perimeter wall of a moo baan development.

I can go to lets say Min Buri and buy land for 10k per tw, why is the same land inside a moo baan being quoted as being worth 40 or 50k?

20 Mil a Rai in a Moo Baan in Min Buri...

I am living near Minburi, Klong Samwa. Here the Talang wah is officially valued at close to 30000. I believe to remember that thos is an "official value" that is set by the government. There is this land office near minburi market.

All I gather is that the value is assest according to a number of factors, like proximity to roads, klongs, etc. There is also some sort of zoning, meaning is it farmland, business or homes.

Mo ban is possibly more expensive because of "communal" property, like parks, lakes, roads, pavement etc.

Sent from my GT-I9100 using Thaivisa Connect Thailand mobile app

[dave111223]

For our Thai property experts, please tell me what is wrong with this house and how much it will cost to rectify the problem?

The picture is taken from inside the living room looking outside onto the street.

Door frame not straight? No cost, just yell at builder to fix it.