Are Houses In Thailand 'really' That Much Cheaper Than In The Uk?

[Beetlejuice]

There is a major difference between owning a home in England and owning a home in Thailand.

A property in England in most cases will accumulate in value and can be considered as a future investment. In Thailand, unless it is a property right within or only a short distance from a main town in the city, than those properties outside of any city, in the rural areas or perhaps 10 kilometres or more distance from the town, should only be considered as somewhere to live and never an investment, because they are extremely difficult to sell and rarely make any substantial profit.

On the other hand, home buyers in England, often find themselves tied down to a property caught in a mortgage trap and end up literally working and living just to pay off the home loan. In Thailand for a one off affordable purchase, the home is yours with no financial commitments to a bank with interest for the next 25 to 30 years.

[pattayadingo]

I can't find where I read it several months ago but I read that some houses in the north of the UK are being sold for a pound as long as you sign complex agreements that you will pay to renovate them. It was a part of a city where there used to be mining or manufacturing jobs - whole rows of houses vacant.

Now, the council proposes to sell off a cluster of houses for just £1 to

residents - on the condition they will be brought up to a decent standard.

Private landlords will also be able to bid for the tender to refurbish some

of the vacant homes and then buy the freeholds for £1.

Liverpool, England

[AnotherOneAmerican]

There is a major difference between owning a home in England and owning a home in Thailand.

A property in England in most cases will accumulate in value and can be considered as a future investment. In Thailand, unless it is a property right within or only a short distance from a main town in the city, than those properties outside of any city, in the rural areas or perhaps 10 kilometres or more distance from the town, should only be considered as somewhere to live and never an investment, because they are extremely difficult to sell and rarely make any substantial profit.

On the other hand, home buyers in England, often find themselves tied down to a property caught in a mortgage trap and end up literally working and living just to pay off the home loan. In Thailand for a one off affordable purchase, the home is yours with no financial commitments to a bank with interest for the next 25 to 30 years.

Just to point out

The home in the UK is yours.

The home in Thailand isn't.

[thaicbr]

There is a major difference between owning a home in England and owning a home in Thailand.

 

A property in England in most cases will accumulate in value and can be considered as a future investment. In Thailand, unless it is a property right within or only a short distance from a main town in the city, than those properties outside of any city, in the rural areas or perhaps 10 kilometres or more distance from the town, should only be considered as somewhere to live and never an investment, because they are extremely difficult to sell and rarely make any substantial profit.

 

On the other hand, home buyers in England, often find themselves tied down to a property caught in a mortgage trap and end up literally working and living just to pay off the home loan. In Thailand for a one off affordable purchase, the home is yours with no financial commitments to a bank with interest for the next 25 to 30 years.

 

Just to point out

The home in the UK is yours.

The home in Thailand isn't.

The home in the UK is the banks for 25 years. The home here is the banks as well if ya clever.

Sent from my i-mobile i-STYLE Q6

[chiangmaikelly]

There is a major difference between owning a home in England and owning a home in Thailand.

A property in England in most cases will accumulate in value and can be considered as a future investment. In Thailand, unless it is a property right within or only a short distance from a main town in the city, than those properties outside of any city, in the rural areas or perhaps 10 kilometres or more distance from the town, should only be considered as somewhere to live and never an investment, because they are extremely difficult to sell and rarely make any substantial profit.

On the other hand, home buyers in England, often find themselves tied down to a property caught in a mortgage trap and end up literally working and living just to pay off the home loan. In Thailand for a one off affordable purchase, the home is yours with no financial commitments to a bank with interest for the next 25 to 30 years.

Just to point out

The home in the UK is yours.

The home in Thailand isn't.

The home in the UK is the banks for 25 years. The home here is the banks as well if ya clever.

Sent from my i-mobile i-STYLE Q6

My wife bought us a home this year; 20 year 100% loan. Everything inside the home is new except the art. Nice house close to the ocean. My share 12,000 baht per month. Is the house mine? Is the house the bank's? I don't know. It is less than I would pay in rent.

Edited June 5, 2013 by chiangmaikelly

[thaicbr]

 

There is a major difference between owning a home in England and owning a home in Thailand.

 

A property in England in most cases will accumulate in value and can be considered as a future investment. In Thailand, unless it is a property right within or only a short distance from a main town in the city, than those properties outside of any city, in the rural areas or perhaps 10 kilometres or more distance from the town, should only be considered as somewhere to live and never an investment, because they are extremely difficult to sell and rarely make any substantial profit.

 

On the other hand, home buyers in England, often find themselves tied down to a property caught in a mortgage trap and end up literally working and living just to pay off the home loan. In Thailand for a one off affordable purchase, the home is yours with no financial commitments to a bank with interest for the next 25 to 30 years.

 

Just to point out

The home in the UK is yours.

The home in Thailand isn't.

 

The home in the UK is the banks for 25 years. The home here is the banks as well if ya clever.

Sent from my i-mobile i-STYLE Q6

My wife bought us a home this year; 20 year 100% loan.  Everything inside the home is new except the art.  Nice house close to the ocean.  My share 12,000 baht per month.  Is the house mine?  Is the house the bank's?  I don't know.  It is less than I would pay in rent. 

You said your share so I would suppose the house should be classified as "ours" as in yours. Your wife's and for 20 years your banks :lol:

Sent from my i-mobile i-STYLE Q6

[thelongshoot]

google BKK or Thai real estate.

you will find many agents with hundreds of listings of varied sizes and prices, they are far cheaper.

no comparison whatsoever.

http://www.rightmove.co.uk/property-for-sale/property-38706742.html?premiumA=true

A link sowing a house in Derby for £51,000 can any one show me a link for house built as well with a garden as big for as cheap?

utterly depressing

Lol. In fairness I totaly agree.... Hugely depressing! I would rather donate a lung than even consider living in that misserable, cold, bleak house. Give me a paper thin wall Thai town house any day over that example.

[Beetlejuice]

There is a major difference between owning a home in England and owning a home in Thailand.

A property in England in most cases will accumulate in value and can be considered as a future investment. In Thailand, unless it is a property right within or only a short distance from a main town in the city, than those properties outside of any city, in the rural areas or perhaps 10 kilometres or more distance from the town, should only be considered as somewhere to live and never an investment, because they are extremely difficult to sell and rarely make any substantial profit.

On the other hand, home buyers in England, often find themselves tied down to a property caught in a mortgage trap and end up literally working and living just to pay off the home loan. In Thailand for a one off affordable purchase, the home is yours with no financial commitments to a bank with interest for the next 25 to 30 years.

Just to point out

The home in the UK is yours.

The home in Thailand isn't.

In my case the home is in all my childrens names so it doesn`t matter, but you make an excellent point.

[pigeonjake]

If he built the house, paid for it alone and has the receipts, then it is his house.

He can dismantle it if he wants and take it elsewhere.

He could burn it or bulldoze it also if that was his desire.

This is only true in theory, you assume the letter of the law is relevant to reality here. I'd really like to see someone try to put this to the test, unless they explicitly planned for this and made it clear to all concerned from the beginning.

I completely agree that many silly duffers are mistaken to call it "my house" and "our house".

It's 100% true that the farang can continue to live there as long as the family unit stays together.

However many end up having to stay long after it's become a very miserable situation, simply because they no longer have any options financially, they've sunk all their eggs in one basket.

Perfectly fine to build your wife and kids a house, noble and that's the way it should be.

As long as you realize all the ramifications of what you're doing and can truly afford to do so.

Otherwise IMO much better to simply rent.

Personally I'd advise to never live within four hours' driving distance of my wife's family.

you say all this about not living within 4 hours of the family,

then on another post about bitching in thailand, you say this,

I love it! "You never know what youre gonna get." and "Run Forrest, RUN!"

Some of the lessons I got from that great film as well as from living in Thailand:

■Xxxx happens, but you can still keep positive about the future.

■Simple people can achieve great things, don't look down on them.

■Friends and family are far more important than career and money.

■Keep following your values, don't give them up just because outsiders tell you you're wrong.

so what are you going to do live 4 hours away or freinds and family are important??

jake

[Jigger]

Its simeple... Can I pay the same for a house I like 30min outside the CBD in London for the same price as a house I like 30min out of Bangkok's CBD..

Answer... NO....

Perhaps if you work in some high level corporate job, getting amazing benefits, London is better. If you are the average person pulling in 100k-150k a year yourself, Thailand is the obvious choice.

[StreetCowboy]

Its simeple... Can I pay the same for a house I like 30min outside the CBD in London for the same price as a house I like 30min out of Bangkok's CBD..

Answer... NO....

Perhaps if you work in some high level corporate job, getting amazing benefits, London is better. If you are the average person pulling in 100k-150k a year yourself, Thailand is the obvious choice.

Depending on what you want. Personally, I don't rank 30 minutes outside Bangkok with 30 minutes outside a metropolis like Glasgow or HongKong or Shanghai or London, though I have to say that Soi Cowboy surpasses my experience in all those cities

[sunlong]

so what are you going to do live 4 hours away or freinds and family are important??

-

Great catch Jake! Friends and family are truly important, but my sanity and financial solvency are as well, and I wouldn't want to live in my own mother's back pocket, much less THEIRS.

My partners' welcome to spend as much time with their friends and family as they like, talk to them every day on the phone or Skype, send them money from her allowance whatever.

But I'll keep my independence thanks.

[pigeonjake]

my in laws are about half a mile away, but to be honest they have been a great help, well mama has helping my wife with the baby ect,

and i love to watch them planting chillies together and other veg on our land, its nice,

but like i say im from farming stock so my lifstyll suits me,

im not saying it wouldnt suit everyone,

its everyone to there own,

take care all jake

[NeverSure]

google BKK or Thai real estate.

you will find many agents with hundreds of listings of varied sizes and prices, they are far cheaper.

no comparison whatsoever.

http://www.rightmove.co.uk/property-for-sale/property-38706742.html?premiumA=true

A link sowing a house in Derby for £51,000 can any one show me a link for house built as well with a garden as big for as cheap?

utterly depressing

A little research shows that house to be a repossession on a run-down council estate, no interior pictures as it has most likely been wrecked by the evicted previous owner. Area surrounded by unemployed and druggies next to a major road.

Viewing houses in better areas gives prices in the UKP 140,000+

http://www.rightmove.co.uk/property-for-sale/property-27016293.html?showcase=true&premiumA=true

Yes, and who owns the land? My idea of owning a home is owning the dirt. Without the land I don't feel I own much.

My land is worth a lot more than my house, and I own my land.

How can we discuss home values in LOS when we can't own the land?

[sunlong]

Yes, and who owns the land? My idea of owning a home is owning the dirt. Without the land I don't feel I own much.

My land is worth a lot more than my house, and I own my land.

How can we discuss home values in LOS when we can't own the land?

-

The point is a valid one as far as I'm concerned, but it's been repeated again and again within the thread

This one issue won't bring the discussion to a halt as you may think it should, because some (many?) people here

- A put it in their kids' names or

- B trust their wives and aren't afraid of the family breaking up and their getting kicked out of "their" house, or

- C don't worry about that possibility because the expense was such a small part of their personal net worth that they're willing to walk away.

All of which are perfectly valid points of view.

[NeverSure]

Yes, and who owns the land? My idea of owning a home is owning the dirt. Without the land I don't feel I own much.

My land is worth a lot more than my house, and I own my land.

How can we discuss home values in LOS when we can't own the land?

-

The point is a valid one as far as I'm concerned, but it's been repeated again and again within the thread

This one issue won't bring the discussion to a halt as you may think it should, because some (many?) people here

- A put it in their kids' names or

- B trust their wives and aren't afraid of the family breaking up and their getting kicked out of "their" house, or

- C don't worry about that possibility because the expense was such a small part of their personal net worth that they're willing to walk away.

All of which are perfectly valid points of view.

I understand what you're saying, and I understand that works for some. Some families break up, even causing a father to lose the relationship with his children. Yes, some are willing to walk away.

But is that actually owning your own land in your own name, with the title running with the land to perpetuity?

Maybe it works for others, but I can't invest one pound in dirt I don't own in my name alone. I can't even think in terms of how much a house would cost me in Thailand.

[rene123]

I can't speak from first hand knowledge, but my sister's attached townhouse flat in London has gone up 1000 percent in the past 15 years. She told me that if she tried to buy it today that there is no way she and her husband could afford it. I doubt if it has increased that much in Thailand.

[sunlong]

I can't speak from first hand knowledge, but my sister's attached townhouse flat in London has gone up 1000 percent in the past 15 years. She told me that if she tried to buy it today that there is no way she and her husband could afford it. I doubt if it has increased that much in Thailand.

-

Flipping it around to the OP's POV, the Bangkok equivalent is still affordable.

-

I understand what you're saying, and I understand that works for some. Some families break up, even causing a father to lose the relationship with his children. Yes, some are willing to walk away.

But is that actually owning your own land in your own name, with the title running with the land to perpetuity?

Maybe it works for others, but I can't invest one pound in dirt I don't own in my name alone. I can't even think in terms of how much a house would cost me in Thailand.

-

I guess that's because you're looking at it from a financial analysis point of view, while for others their home may simply functional - not "wasting" money on rent, a place for the family to live, with no question of realizing any financial return, just an expense not an investment.

Say we want to discuss comparing the relative cost/value of pink diamond necklaces purchased in New York vs Bangkok. The likelihood of them being fakes, the quality of the cutting artistry of the setting etc.

Some men will retain ownership for financial or insurance purposes but let their partner wear them to the ballroom dancing competition.

Others will simply hand them over as a gift.

Both can still continue the discussion of the market variables setting aside the question of legal ownership.

[highonthai]

Why do some people always feel the need to bring up the same old "you don't own your house" statement?

I never hear this statement from someone that has bought a home in Thailand.But always hear it someone that rents.

Jealousy, envy? Why if your a renter, would you care?

I'm fortunate enough to be in a position to purchase homes in Thailand as well as Los Angeles.

Of course I would never keep all my eggs in one basket as to invest all of my money in real estate in any country.

But it's up to the individual to do as he likes. Gold diggers are in every country in the world,so that is not an excuse. People lose investments everyday, ever hear of divorce settlements?

Get over it, you'll never buy here so what do you care if someone else does?

[rene123]

ever hear of divorce settlements?

Get over it, you'll never buy here so what do you care if someone else does?

But, didn't you know? Everyone else's business is ALWAYS your business in Thailand. The various threads on this forum prove that without a doubt.

[MJP]

The fact that you can't really own the land in a way you can feel secure about without a lot of added expense - and still not totally secure in my opinion and the build quality issue is a big one.

However those issues aside -accepting low quality and higher risk - the fact remains they are cheaper and ongoing expenses lower.

Whether that's what YOU want to do or not is of course - up to YOU!

Personally the rent vs purchase ratios here are so skewed toward rent, given the first two issues I'd never consider buying any real estate here at all.

This is a very sensible post.

You as a foreigner cannot own freehold land and security of tenure on leasehold is risky, structural build quality is bad to appalling. So in reality, houses in Thailand are 100% more expensive than in the UK. There is a boom happening right now in Thailand and at the present exchange rates buying there does not make any sense, not that it ever did.

Definitely, without question . . . rent.

Edited June 5, 2013 by MJP

[ignis]

Definitely, without question . . . rent.

Everyone to there own.......... and what do they need......... for me to Rent is stupid = a total waste of money......

To own the house you can do what you want when you want, paint, change things, add things, no fear of the owner selling, have dogs, build Ponds........

Had I rented then I would still have to pay rent for the next XXX years, in the 10 years if I had rented I would have paid more in rent so far than building 10 year ago.. I still have ? hopefully some more years left to live + will be rent free.

[AnotherOneAmerican]

This one issue won't bring the discussion to a halt as you may think it should, because some (many?) people here

- A put it in their kids' names or

- B trust their wives and aren't afraid of the family breaking up and their getting kicked out of "their" house, or

- C don't worry about that possibility because the expense was such a small part of their personal net worth that they're willing to walk away.

All of which are perfectly valid points of view.

B - valid but mistaken, you can never trust what a lover will do next week.

C - I don't meet many foreigners who can afford to do this more than once or twice.

[AnotherOneAmerican]

I can't speak from first hand knowledge, but my sister's attached townhouse flat in London has gone up 1000 percent in the past 15 years. She told me that if she tried to buy it today that there is no way she and her husband could afford it. I doubt if it has increased that much in Thailand.

Capital cities are special cases.

Try using her house on a council estate in Derby as a comparison.

In America many houses have actually dropped in value over the last 20 years.

[AnotherOneAmerican]

The fact that you can't really own the land in a way you can feel secure about without a lot of added expense - and still not totally secure in my opinion and the build quality issue is a big one.

However those issues aside -accepting low quality and higher risk - the fact remains they are cheaper and ongoing expenses lower.

Whether that's what YOU want to do or not is of course - up to YOU!

Personally the rent vs purchase ratios here are so skewed toward rent, given the first two issues I'd never consider buying any real estate here at all.

This is a very sensible post.

You as a foreigner cannot own freehold land and security of tenure on leasehold is risky, structural build quality is bad to appalling. So in reality, houses in Thailand are 100% more expensive than in the UK. There is a boom happening right now in Thailand and at the present exchange rates buying there does not make any sense, not that it ever did.

Definitely, without question . . . rent.

Luckily I'm not a foreigner.

Despite the boom, 1.8M bht for a 3 bed new house 12km from CM moat seems a bargain to me.

Nice area, 1km from MaeJo uni, rice paddies all around, views of the mountains.

$60,000 so cheap the exchange rates, housing boom, drop in prices due to a crash are irrelevant.

[muythai2013]

wouldn't an apartment be a better option for a westerner.

[chiangmaikelly]

A little research shows that house to be a repossession on a run-down council estate, no interior pictures as it has most likely been wrecked by the evicted previous owner. Area surrounded by unemployed and druggies next to a major road.

Viewing houses in better areas gives prices in the UKP 140,000+

http://www.rightmove.co.uk/property-for-sale/property-27016293.html?showcase=true&premiumA=true

Yes, and who owns the land? My idea of owning a home is owning the dirt. Without the land I don't feel I own much.

My land is worth a lot more than my house, and I own my land.

How can we discuss home values in LOS when we can't own the land?

It is easy to discuss house values in Thailand. An American or Brit owning land in Thailand is a different subject. I think there are law firms on Thai Visa who would be more than happy to tell you how to own land in Thailand; but I can't speak for them.

Edited June 6, 2013 by chiangmaikelly

[ignis]

wouldn't an apartment be a better option for a westerner.

NO For me would drive me mad..

Where would all the dogs go ? 200+ Koi Fish ? no garden to potter about in.........

But then in over 60 year have spent just over 3 years in a City [berlin] the rest of my life has been somewhere out in the sticks..

As I am sure City folk would go mad stuck out in the wild or Village somewhere in any Country

[muythai2013]

wouldn't an apartment be a better option for a westerner.

NO For me would drive me mad..

Where would all the dogs go ? 200+ Koi Fish ? no garden to potter about in.........

But then in over 60 year have spent just over 3 years in a City [berlin] the rest of my life has been somewhere out in the sticks..

As I am sure City folk would go mad stuck out in the wild or Village somewhere in any Country

For you a country guy I could understand that, I stayed in a small village near Moritsburg in Dresden for 3 months, Quiet but beautiful, was far different then Berlin.

Like my father an Apartment would send him nuts.

[highonthai]

An apartment for many that have owned homes and relocated to Thailand, is not an option. Too small ,no space for everything, privacy, etc.

I can't speak for anyone but myself, but I did not move to Thailand to lower my living standards. I will never understand why some of the people I run across will lower their living standards just to stay here or should I say just exist in this country.

Home ownership here can be a good thing or bad thing and that depends on you.If you can't afford or handle/want to do the up keep or maintenance then a rental or apartment/Condo might be right for you.

Also, you get what you pay for here as in any country as far as the quality of the home you build or buy. We all know the old saying, location location location, spend the time to do the research before you rent or buy. I have a few acquaintances that are constantly moving from rental to rental because they don't take the time to research the location or ask potential neighbors questions.

This is a great place to live, rent or own. But it is what you make of it in more ways than one.

Edited June 6, 2013 by highonthai