Buying A House In 3 - 4 Years Time, Price Rise/ Decrease Etc

[davejones]

Odd? (Last post,to you) Can speak Thai,got Thai wife,screw more than my fair share of Thais.

Look sunshine,I have had more success than you,and especially you , than that you could ever imagine,and not crappy little deals selling Thais, Thai houses I take my success from a major pools win in year 2000, retiring at 47 with gold plated index linked pension,buying and selling at three times the profit in another far eastern house venture,yes if its money it pours in(for me anyway). Not that interested in Thailand,but it suits at the moment,when it doesn't Ill give you a bell

You concentrate on what you think you do best ps you wont be doing that for long anyway

If you're so successful, why are you so bitter? You come across as some kind of loser that thinks he knows best when others have clearly disproved what you think. Your choice, so good luck with your life. You'll probably need it.

[bigbamboo]

Odd? (Last post,to you) Can speak Thai,got Thai wife,screw more than my fair share of Thais.

Look sunshine,I have had more success than you,and especially you , than that you could ever imagine,and not crappy little deals selling Thais, Thai houses I take my success from a major pools win in year 2000, retiring at 47 with gold plated index linked pension,buying and selling at three times the profit in another far eastern house venture,yes if its money it pours in(for me anyway). Not that interested in Thailand,but it suits at the moment,when it doesn't Ill give you a bell

You concentrate on what you think you do best ps you wont be doing that for long anyway

If you're so successful, why are you so bitter? You come across as some kind of loser that thinks he knows best when others have clearly disproved what you think. Your choice, so good luck with your life. You'll probably need it.

Dave, quite clearly Pinfold is considerably richer than yo...!

Well, all of us probably.

As to property values we bought in CM ten years ago and have expanded the property a lot in that time because we like the location and it's actually cheaper to do that than buy a bigger place. But existing property values have increased only marginally over that time during which there has been a lot of development outside of town. I think that's the case in most places other than the trendier parts of BKK and the beach front areas.

[rgs2001uk]

So you are staying that instead of building a house you should stick all your money in a single stock and hope it doubles? Then move to the Canary Islands but continue posting in a Thailand forum?

You can be sure the house in Thailand would not double in price,more like halve in price for a sale . You want to see the appraisal (last June) regarding foreigners buying in Thailand(look through various threads here).

I'm only buying in the Canaries,suits me as to free medical in the future and a cheap base in Europe,continue to live best part of the year out here.

Its up to you about buying houses in Thailand that has been done to death,you can see the past recent trend over the last few years,you can see the vast amount of property for sale,you can probably adjudge the absolute lack of buyers,and to be advised about anything property wise by sharks is foolhardy to say the least.

You will lose,guaranteed

The properties that don't sell are mostly the new shiny condos that are overpriced to begin with. Buy the right property in the right area, and you can make money. I know many people that have made plenty of money here with buying and selling property. But you're not going to make money buying a new condo and then trying to flip it in a year or two. Apart from catastrophe, there is no way that prices will halve, as you suggest. If you think that, then it's proof that you don't understand the market here. I know someone that bought a house for 200K 6 months ago, and they just got offered 700K for it. They bought well because they know what 's going on. There are many people making this little deals. Also know plenty if have doubled and tripled their money over 10-15 years. You come across as a complete loser. I doubt you have any money at all. Why try to put down people who are actually making money with Thai property? Just because you can't doesn't mean that others can't.

I know someone that bought a house for 200K 6 months ago, and they just got offered 700K for it.

What currency are we talking about here?

If thats the good old pommie peso thats one hell of a return, bought for 10 million and sold for 35 million, or are we talking baht?

[bigbamboo]

So you are staying that instead of building a house you should stick all your money in a single stock and hope it doubles? Then move to the Canary Islands but continue posting in a Thailand forum?

You can be sure the house in Thailand would not double in price,more like halve in price for a sale . You want to see the appraisal (last June) regarding foreigners buying in Thailand(look through various threads here).

I'm only buying in the Canaries,suits me as to free medical in the future and a cheap base in Europe,continue to live best part of the year out here.

Its up to you about buying houses in Thailand that has been done to death,you can see the past recent trend over the last few years,you can see the vast amount of property for sale,you can probably adjudge the absolute lack of buyers,and to be advised about anything property wise by sharks is foolhardy to say the least.

You will lose,guaranteed

The properties that don't sell are mostly the new shiny condos that are overpriced to begin with. Buy the right property in the right area, and you can make money. I know many people that have made plenty of money here with buying and selling property. But you're not going to make money buying a new condo and then trying to flip it in a year or two. Apart from catastrophe, there is no way that prices will halve, as you suggest. If you think that, then it's proof that you don't understand the market here. I know someone that bought a house for 200K 6 months ago, and they just got offered 700K for it. They bought well because they know what 's going on. There are many people making this little deals. Also know plenty if have doubled and tripled their money over 10-15 years. You come across as a complete loser. I doubt you have any money at all. Why try to put down people who are actually making money with Thai property? Just because you can't doesn't mean that others can't.

I know someone that bought a house for 200K 6 months ago, and they just got offered 700K for it.

What currency are we talking about here?

If thats the good old pommie peso thats one hell of a return, bought for 10 million and sold for 35 million, or are we talking baht?

Must be baht!

I hope they checked the property actually belonged to the seller......?

[davejones]

So you are staying that instead of building a house you should stick all your money in a single stock and hope it doubles? Then move to the Canary Islands but continue posting in a Thailand forum?

You can be sure the house in Thailand would not double in price,more like halve in price for a sale . You want to see the appraisal (last June) regarding foreigners buying in Thailand(look through various threads here).

I'm only buying in the Canaries,suits me as to free medical in the future and a cheap base in Europe,continue to live best part of the year out here.

Its up to you about buying houses in Thailand that has been done to death,you can see the past recent trend over the last few years,you can see the vast amount of property for sale,you can probably adjudge the absolute lack of buyers,and to be advised about anything property wise by sharks is foolhardy to say the least.

You will lose,guaranteed

The properties that don't sell are mostly the new shiny condos that are overpriced to begin with. Buy the right property in the right area, and you can make money. I know many people that have made plenty of money here with buying and selling property. But you're not going to make money buying a new condo and then trying to flip it in a year or two. Apart from catastrophe, there is no way that prices will halve, as you suggest. If you think that, then it's proof that you don't understand the market here. I know someone that bought a house for 200K 6 months ago, and they just got offered 700K for it. They bought well because they know what 's going on. There are many people making this little deals. Also know plenty if have doubled and tripled their money over 10-15 years. You come across as a complete loser. I doubt you have any money at all. Why try to put down people who are actually making money with Thai property? Just because you can't doesn't mean that others can't.

I know someone that bought a house for 200K 6 months ago, and they just got offered 700K for it.

What currency are we talking about here?

If thats the good old pommie peso thats one hell of a return, bought for 10 million and sold for 35 million, or are we talking baht?

Thai baht. Not trying to say it will make you rich, but just showing these deals are out there. The person makes quite a few little deals like this though, mostly buying from distressed buyers, but only property in good locations. There are plenty of these deals around, but most farangs seem to want to buy the overpriced new condos that are popping up everywhere. I think it's pretty difficult to make money from buying a new condo and then selling later. There is massive oversupply of them. But good homes in good locations usually go for a premium.

[davejones]

Must be baht!

I hope they checked the property actually belonged to the seller......?

Of course they did. Why wouldn't they?

[davejones]

Dave, quite clearly Pinfold is considerably richer than yo...!

Well, all of us probably.

In that case, I'm glad I'm not as rich as him, because being considerable rich seems to have made him bitter and big header. LOL.

[rgs2001uk]

Thai baht. Not trying to say it will make you rich, but just showing these deals are out there. The person makes quite a few little deals like this though, mostly buying from distressed buyers, but only property in good locations. There are plenty of these deals around, but most farangs seem to want to buy the overpriced new condos that are popping up everywhere. I think it's pretty difficult to make money from buying a new condo and then selling later. There is massive oversupply of them. But good homes in good locations usually go for a premium.

Ah good Thai friend of mine acts in his spare time as a realtor, charges 3%, sometimes less if he can get a quick sale, he has people on a waiting list wanting to buy in certain areas.

If he sells a 6 million baht property thats 180k baht commission, he tells me he only has to sell two a year to cover his living costs, he doesnt touch his pension.

The properties he has a waiting list for are on older established moo baans, people want to buy, knock down the old house and erect their own, cheaper than buying from a developer, only works if you have cash though.

[PattayaPhom]

Cosidering TSB shares were over 70 Pence a few years ago and dropped to 20, that shows what a great investment they are.

[PattayaPhom]

Cosidering TSB shares were over 70 Pence a few years ago and dropped to 20, that shows what a great investment they are.

[davejones]

Cosidering TSB shares were over 70 Pence a few years ago and dropped to 20, that shows what a great investment they are.

Whether they are a good investment or not depends on when you buy and sell. If you made a profit, then it was a good investment. Just because they fell during a specific 3-year period doesn't say anything, except that it was a bad investment during that time.

[pinfold]

Cosidering TSB shares were over 70 Pence a few years ago and dropped to 20, that shows what a great investment they are.

Ah! there you are,you squirming little turd,how informative your total is,how disturbing your thinking pattern manifests,your total lack of selling anything to anybody here in Thailand,Oh! you troubled soul, Oh what to do!

Have I really got to answer an even bigger cretin?,have I got to disturb my peace and time answering a moronic post put up by a lunatic? Suppose I have to,so here goes... Now I know you took your time, you had to,your brain function is not that sharp these days ,is it? go on admit it (how did taking 4 more Thai staff develop) yes it takes 3 Thai ladies to stir a cup of coffee into shape I must admit.

"Dropped to 20 pence a share" right we shall take that one first...never got to that amount 24 and a half actually ( I bought at 26) another pearl from you "over 70 pence a few years ago"..actually they were over £ 8 a share a few years ago..."Great investment" yet another pearl from you well yes they were and are actually,lot better than the crap you advise investors to lose money in

I did admit I bought at 26 pence approx . a year approx. ago now at 55.50 something,(up 1.3 %yesterday) I expect them to go to 65 or 70 soon ,where BINGO I will sell ,take the dough along with other dough( (also bought a shedful of Barclays bank shares and plough it into my pad in the Canaries ( Check out Barclays bank shares too over recent months WOW) Bought them at around 200 pence at the same time

Now off you go softarse,try point scoring with a just arrived banana boat arrivee on your house selling projects

[pinfold]

Dave, quite clearly Pinfold is considerably richer than yo...!

Well, all of us probably.

In that case, I'm glad I'm not as rich as him, because being considerable rich seems to have made him bitter and big header. LOL.

No you ever will be! with a small dick too LOL

[meatboy]

the way a decent piece of land is costing down here in korat you[no your partner] would be lucky to buy the land never mind a house as well.ours 170sq.wah.cost 2.4mil.today same size is fetching 3.4mil.

[pinfold]

the way a decent piece of land is costing down here in korat you[no your partner] would be lucky to buy the land never mind a house as well.ours 170sq.wah.cost 2.4mil.today same size is fetching 3.4mil.

Thais will always do what Thais do best,just like the car buying credit fiasco,throwing(borrowed) money in ever higher amounts. Leave it to them ,my partner keeps trying to get me(not her) money involved, never in a million years

[yoshiwara]

If we strip away the wisdom of buying either a house or buying in a friend's name what we are left with is whether 1.5-2 million baht will be enough to purchase a property in Chiang Mai in 4 years time. The answer of course is that it is a possibility and that circumstances may change along the way to make your objective either easier or more difficult eg FX and inflation. When the circumstances change you will have to reassess your situation as you go along. You will be asking yourself what you can do, what changes can you make in order to achieve your goal. Finally, finally, maybe, hopefully you will get there and secure the dream of being able to afford a property in Thailand. Four years of the toil of saving. Congratulations! And then you will piss it all away in an instant signing off in someone else's name.

[pinfold]

When you watch (occasionally I add) Thai television adverts from the Thai banks,mostly the K bank, you see a pattern develop, couple of years ago it was borrow cash for cars, a year later it was cars for cash,(because the poor sod was not keeping up with payments) then leading the punter into a gold shop to ,yes, flog the car back to the bank and buy gold in its place. Now both are on a losing streak,the poor sod of a Thai bank borrower is chasing his own tail on a never ending trail of disaster

Yes Chiang Mai may just take off,but do not rely on the high speed rail link,the bloody rail link will be forever washed away in monsoons,repairs being undertaken during non-monsoon timings

[davejones]

To the OP - where are you from, and how do you plan to save/earn the money? In your home currency or in Thai baht. If in GBP for example, then you might have to save double, if the GBP keeps dropping at it's current rate. It's already at a 10-year low against the baht. I don't know what the rate was over 10 years ago, so might even be an all time low.

The short answer to your question is that no-one knows. You just need to save and see where you stand when it's time to buy. If prices take off and your home currency drops, then you might need much, much more. But if teh opposite happens, then you could get a real bargain. That's life.

[davejones]

Same thing was asked about Pattaya years ago, Example Uk bought condo at 2,2 Mil xe 72 sold 3 months ago at 6,3 and money back Uk Xe 48. Work out the profit. There is no crystal ball but Chiang Rai is a safer bet rhan many places

How long ago was it 72? you can waffle on here how much money can be made on house or condo sales here,but all I see are countless ones for sale,market flooded out by them,newspapers and magazines overflowing with the stuff. Now for a speculative profit I made 3 (probably 4) million baht in the last 12 months,and I only made it by not losing it on the property market here. Thanks ,but Ill give Chiang Rai a miss

Each to their own, maybe you can share your safe way of making 4 mil in a year with all of us

Seeing your a punter it goes like this dumbo...yes been here a fair few years, and yes got dragged around a few houses (been on the market for years,still there,always will be there) not selling,never will sell. Had loose change ,approx 3 million,did not want to lose it,but was going after something around 12 million a few years back,yes hand bitten off Im sure.

Now this market will always flounder,anyone thinking differently needs their head examined. Now had second and third thoughts about this sinking ship ,deciding this was a loser so looked at the UK stock market at that time,stuck the loose change on LloydsTSB at 26 pence,now approx 55 going on 56 ,but will climb to 60 or even 70 in a month or so I'm sure.

So off to Canary Islands with the 6 million ,plus another barrow load,now that's an up and coming place,compare it with Thailand LOL LOL

PS this was my second windfall by not getting embroiled here on the house thing ,got one and a half profit by investing elsewhere, would have lost the lot here buying a house ,cheers pps bought 30 thousand pounds worth of Premium bonds with that (not buying property in Thailand profit) Oh the thought of losing it all

Well you got that wrong didn't you - Lloyds TSB going on 55, heading to 60-70 in a month. LOL. Heading for 49 at the moment.

Edited March 11, 2013 by davejones

[TommoPhysicist]

As to property values we bought in CM ten years ago and have expanded the property a lot in that time because we like the location and it's actually cheaper to do that than buy a bigger place. But existing property values have increased only marginally over that time during which there has been a lot of development outside of town. I think that's the case in most places other than the trendier parts of BKK and the beach front areas.

We?

[TommoPhysicist]

Thai baht. Not trying to say it will make you rich, but just showing these deals are out there. The person makes quite a few little deals like this though, mostly buying from distressed buyers, but only property in good locations. There are plenty of these deals around, but most farangs seem to want to buy the overpriced new condos that are popping up everywhere. I think it's pretty difficult to make money from buying a new condo and then selling later. There is massive oversupply of them. But good homes in good locations usually go for a premium.

But foreigners can't buy the houses.

[TommoPhysicist]

Thai baht. Not trying to say it will make you rich, but just showing these deals are out there. The person makes quite a few little deals like this though, mostly buying from distressed buyers, but only property in good locations. There are plenty of these deals around, but most farangs seem to want to buy the overpriced new condos that are popping up everywhere. I think it's pretty difficult to make money from buying a new condo and then selling later. There is massive oversupply of them. But good homes in good locations usually go for a premium.

Ah good Thai friend of mine acts in his spare time as a realtor, charges 3%, sometimes less if he can get a quick sale, he has people on a waiting list wanting to buy in certain areas.

If he sells a 6 million baht property thats 180k baht commission, he tells me he only has to sell two a year to cover his living costs, he doesnt touch his pension.

The properties he has a waiting list for are on older established moo baans, people want to buy, knock down the old house and erect their own, cheaper than buying from a developer, only works if you have cash though.

Not sure this is true.

Developer profit about 40%

As a foreigner everyone in the world is out to scam you including the house seller, property agent and even your loved one.

Seen many "built it myself" run at double the budget ......... 25% more than the developer would charge.

But like you said, it might be a saving if you have cash, and if you are craftier than everyone else.

I'm a total dumbo ...... better off buying from the developers price list with a home loan levered by the developer.

No chance for my wife or builder to scam me then. Same price as the Thais pay.

Edited March 11, 2013 by TommoPhysicist

[rgs2001uk]

Thai baht. Not trying to say it will make you rich, but just showing these deals are out there. The person makes quite a few little deals like this though, mostly buying from distressed buyers, but only property in good locations. There are plenty of these deals around, but most farangs seem to want to buy the overpriced new condos that are popping up everywhere. I think it's pretty difficult to make money from buying a new condo and then selling later. There is massive oversupply of them. But good homes in good locations usually go for a premium.

Ah good Thai friend of mine acts in his spare time as a realtor, charges 3%, sometimes less if he can get a quick sale, he has people on a waiting list wanting to buy in certain areas.

If he sells a 6 million baht property thats 180k baht commission, he tells me he only has to sell two a year to cover his living costs, he doesnt touch his pension.

The properties he has a waiting list for are on older established moo baans, people want to buy, knock down the old house and erect their own, cheaper than buying from a developer, only works if you have cash though.

Not sure this is true.

Developer profit about 40%

As a foreigner everyone in the world is out to scam you including the house seller, property agent and even your loved one.

Seen many "built it myself" run at double the budget ......... 25% more than the developer would charge.

But like you said, it might be a saving if you have cash, and if you are craftier than everyone else.

I'm a total dumbo ...... better off buying from the developers price list with a home loan levered by the developer.

No chance for my wife or builder to scam me then. Same price as the Thais pay.

Tommo,

I can well believe developer profit of 40%, thats before you get into the financing part.

I love it when people tell me, oh we bought our house 8 years ago for 150k its now worth 200k, implying a 50k profit.

What they forget to mention, assuming a 25 year mortgage on a 100k property, after 25 years, the house may only be worth what thay have paid in mortgage payments for the last 25 years.

I know people in the UK who had the house as part of the retirement plan, thinking they could sell for a vast profit and downsize with a fair wedge left over, wrong.

Anyway if we use the 40% mentioned, Somcahai buys a house (only for the land it sits on) for 5 million, knocks it down and puts up a new one, total cost for complete house fit, 5 million, total outlay, 10 million, down the road the same house is on sale for 12/13 or 14 million, depending on land size.

Get a decent company into build your house, not the wifes family, yes these houses can cost more, for the simple reason they are built to a better spec, better fixtures and fittings, upgraded electrics and plumbing spring to mind, go and visit some of these el cheapo new builds, you better have a spare bucket in your bathroom to fill up and flush your toilet that fails to flush, dont bother trying to have a shower if your mrs is watering the garden, low water pressure.

I mentioned recently about being in a friends house in Pattaya, the ceiling had a tide mark on it from water leaking in through the roof tiles, a quick peep in the attic revealed, no solar foil fitted also no staycool fitted, all done on the cheap.

The kitchen electrics were a bloody disaster, put a kettle, toaster and microwave on at the same time, the bloody washing machine would switch off.

For a 3 bedroom 3 bathroom single storey house, the breaker box had 5 breakers fitted, I shit you not.

BTW, the area I mentioned is a Thai moo baan, I am the only farang (although some guy bought a house but he and his mrs live in farangland), so its all Thai purchases and sales.

As for Thai wife scamming, these Thai guys aint dumb, the guys mother buys his house, so the house is in the mothers name, shit hits the fan, Somchai has no house to lose or be scammed out of, same goes for cars etc, put it in your parents name, left to you in their will, I believe inheritances received during a marriage arent considered as apart of a divorce settlement (but dont quote me on that).

Its amazing the stuff you learn from talking to regular Thai guys as opposed to the barstool lawyers found propping up farang bars.

Edited March 11, 2013 by rgs2001uk