Another house for sale

[ozyjon]

Just arrived in my village after an absence of 2 years,, the locals recognized me so it was sawadikrup all round with many smiles,, caught up with my neighbor (lady friend) so we chinwaged for a bit, asked her what has changed during my absence,, she offered to take me for a tour on her motor-cycle,, look at that, many houses with red-white signs, the bank re-possessed houses, many of them all

over the place but then she took me to another place and she pointed to the newly built houses that looked abandoned but very new, look look look look they are everywhere but the surprising thing is that these houses were built by farangs but i was the only farang in this village, so it seems that the farang come here buy a block of land probably a rice field, fill it in build a big house then leave,, i am puzzled about this happening,, so i said to my lady friend,, good idea let's buy some houses wait a few years then sell,, she said that (one) the prices go down as time goes on and (two) Thais don't buy second hand houses they build new ones and (third) no one wants such large big houses,, too much maintenance and too much to clean,,,,, i'm really puzzled as to whats going on here, lost and wasted money i think but there must be more to the story than meets the eye, if anyone has any experience in this matter i welcome discussion and comments but let's leave the speculation behind, i have included a photo of a house just behind of where i live in the middle of a rice field, if you are the owner of this house please share with us your story as i am intrigued with this situation.

[soi41]

One born every minute!!

[topt]

OP where is "my village"?

[h90]

Thais don't by second hand houses.....here they do it all the time.....and often at a price you could build a new one.

[CharlieH]

Like the guide ! Tell us more about her? And where is this ?

[arthurwait]

Quite easy to answer.

A fool and his money are soon parted..........

By a younger set of genitals. (phrase stolen from Hardened Soul without permission).

[arthurwait]

Thais don't by second hand houses.....here they do it all the time.....and often at a price you could build a new one.

Thai Chinese buy secondhand houses for renting out.

Thais probably are now with the ridiculous asking prices for new, very cheaply made, squashed together houses being made now.

[pokerkid]

OP where is "my village"?

let's take a wild guess.... Somewhere in the Isaan ?

Edited October 14, 2013 by pokerkid

[ExpatOilWorker]

What is the asking price for the house in the picture?

[Swiss1960]

OP: Why not call the numbers and ask directly?

[doontp]

I'll share my story with you. I'll try to keep it short and to the point.

5 yrs ago I arrived here with my eyes wide shut, paid about Bt1m and had a house built in Isaan with dreams of living in it. My house now sets empty. In my case I legally own the place because I'm half Thai. I got tired of my so-called relatives and neighbors always asking me for money. I now live in Bkk away from them. It took about a year to fully realize my relatives only like money. I deny them money and they show me their back.

I grew up in the US and never knew anything about Thai culture until I got here. I was stupid. The light is now on.

[pomchop]

Thais don't by second hand houses.....here they do it all the time.....and often at a price you could build a new one.

Been hearing that for years.....granted many may prefer new but the reality is that a LOT of Thais buy second hand homes.....I would venture to guess that a HUGE percentage of second hand homes sold in Thailand are sold to THAIS......

[h90]

Thais don't by second hand houses.....here they do it all the time.....and often at a price you could build a new one.

Thai Chinese buy secondhand houses for renting out.

Thais probably are now with the ridiculous asking prices for new, very cheaply made, squashed together houses being made now.

Both Thai Chinese and Thai Thais. Price between 2.5-3.2 Million for second hand poorly built houses. New the were 2.9-3.5.

Seems here the prices slowly increase due to a local market not far away (terrible traffic jam). That everything was flooded 2011 doesn't seem to disturb anyone.

[lopburi3]

My guess is often built by foreigners on family land for retirement and when death/plans change/survivors move on and house is not wanted by anyone with the funds to buy because of the location.

[scobie redux]

I'll share my story with you. I'll try to keep it short and to the point.

5 yrs ago I arrived here with my eyes wide shut, paid about Bt1m and had a house built in Isaan with dreams of living in it. My house now sets empty. In my case I legally own the place because I'm half Thai. I got tired of my so-called relatives and neighbors always asking me for money. I now live in Bkk away from them. It took about a year to fully realize my relatives only like money. I deny them money and they show me their back.

I grew up in the US and never knew anything about Thai culture until I got here. I was stupid. The light is now on.

I don't think it's fair to attribute that to Thai culture. It is something that happens in all developing Asian countries - the richer relatives (either through living abroad like your case, or through a marriage to a foreigner) will always be asked to provide cash streams to poorer parts of the family. Ive seen exactly the same scenario in Philippines, China, Indonesia and Cambodia. I'm sure it is also the case elsewhere.

We see it as strange because it's something our western sensibilities hasn't experienced.

[paz]

Very nice house and I would be happy to rent (stress added) it.

[Beetlejuice]

No mystery about it.

The majority of farangs here are buying real estate illegally, not entitled to own the land under Thai law; they are just the financial backers using Thai people as upfront purchasers and owners.

Then in many cases the crap hits the fan. Little wifey suddenly decides that Khun Farang hubby has because superfluous to her needs if he becomes down on his luck or once he has exhausted all his funds on her, or she decides she doesn’t really Fancy her aging farang husband after all and he has fulfilled his purpose to her, and then it becomes a grab for all by the ex-wife, her hanger on Thai boyfriend and her family. In the cases where the Thai woman is a girlfriend and not legally married to the farang, then it`s wham, bam thank you Farang, most grateful for the your kind gifts, you vely kia man, now go away please, as I want to move on with my life.

Sometimes the illegal farang owners for a multiple of reasons, such as failed business ventures, loss of their teaching jobs and so on, can no longer support themselves in Thailand and after fruitlessly trying to sell the properties, end up abandoning everything and leaving the country.

Sometimes the properties, perhaps for property speculating, can be purchased by farangs in the names of their Thai wives as an investment, while the happy married couple live abroad.

The above are the main reasons why I would never buy land and property from farangs in Thailand, because the ownerships are illegal and could have serious repercussions on the new purchasers later on.

Hands up please, all those who have personally experienced any of the above?

Edited October 14, 2013 by Beetlejuice

[i claudius]

We live in a quite large det house in a village on the outskirts of Pattaya ,i rent ,95%of the houses are owned by thais ,over the years it seems about 60% are up for sale ,one was sold after 5 years for less than the cost new , its very pleasant here and our rent was decreased to ensure we stay ,i worked it out that at 6% interest it would take 30 years for me to pay for the house if i baught it , i wouldnt ,for the simple reasons ,1/it would be extremely hard to sell judging by the others on the market

2/ my wife would not stay in Pattaya when i die and

3/ all our repairs ,everything in fact is paid for by the owner

you work out why houses in the 4/6 million range do not sell well.

[craigt3365]

My guess is often built by foreigners on family land for retirement and when death/plans change/survivors move on and house is not wanted by anyone with the funds to buy because of the location.

We have a few for sale in our village for exactly these reasons. One is due to health reasons, moving back home. A few others due to changes in work. Etc. Nothing too exciting. Just like back home.

[oogster8]

I'll share my story with you. I'll try to keep it short and to the point.

5 yrs ago I arrived here with my eyes wide shut, paid about Bt1m and had a house built in Isaan with dreams of living in it. My house now sets empty. In my case I legally own the place because I'm half Thai. I got tired of my so-called relatives and neighbors always asking me for money. I now live in Bkk away from them. It took about a year to fully realize my relatives only like money. I deny them money and they show me their back.

I grew up in the US and never knew anything about Thai culture until I got here. I was stupid. The light is now on.

How do you people find these low-lifes? The bargirls i know dont ask me for shit-i just dont look too stupid, i guess. Just normal payment for normal services. No offense sir!

[oogster8]

What needs to be determined is the country of origin of the fools who build houses and expect to be loved.................lol. I dont see many african, indians, asians,etc. doing the house shit. Whtas wrong with these cultures.................lol.?

Whats so hard to understand about THAI culture? Villagers arent gonna say NO if a farang is gonna build them a house. The culture that needs to be understood are the mens culture-what makes them do what they do....................lol.

Edited October 14, 2013 by oogster8

[David48]

No mystery about it.

The majority of farangs here are buying real estate illegally, ...

'The majority'

Now ... I like a good story ... any reference to back your statement?

Just references ... no observations please ... I like facts.

[HeijoshinCool]

Rhek Thum is a small town of about 3000. No other farang here, just me, so I can't comment on that perspective.

But, in the last year, at least two dozen nicer houses have been built here. They sit empty.

I asked the GF.

She said they borrowed money from the bank to build, but the banks won't lend for a houseful of furniture and appliances, and Thais won't put in used furniture or TVs or whatever-- bad luck, you know --- and don't have the cash to buy new.

Until then, they will remain, well, new.

[JoeThePoster]

Rhek Thum, is that down south?

[paz]

I'll share my story with you. I'll try to keep it short and to the point.

5 yrs ago I arrived here with my eyes wide shut, paid about Bt1m and had a house built in Isaan with dreams of living in it. My house now sets empty. In my case I legally own the place because I'm half Thai. I got tired of my so-called relatives and neighbors always asking me for money. I now live in Bkk away from them. It took about a year to fully realize my relatives only like money. I deny them money and they show me their back.

I grew up in the US and never knew anything about Thai culture until I got here. I was stupid. The light is now on.

How do you people find these low-lifes? The bargirls i know dont ask me for shit-i just dont look too stupid, i guess. Just normal payment for normal services. No offense sir!

What you mean "find" ?!? doontp mentioned these were his relatives (that can't be chosen) to leech on him. In my opinion, he is not even half thai to their eyes. No need to mention bar environments in any circumstance.

[paz]

No mystery about it.

The majority of farangs here are buying real estate illegally, ...

'The majority'

Now ... I like a good story ... any reference to back your statement?

Just references ... no observations please ... I like facts.

Fact: since a foreigner can't own land, all the methods circumventing the prohibition, are in fact illegal and unsecure. Debate on that.

[guzzi850m2]

Many Thais buy houses that they don't need, in my village there are 3-4 large houses I know about that just sits empty, never been lived in.

They consider it as an investment never mind they will have to wait +10 years selling it, property taxes are very low here.

Price for land in Pattaya goes up each year, in my village (inside of Sukhumvitt road) the price for one wah have gone up from 25k baht to 50k baht is 3 years, I am lucky my house (or my wife's) house was bought when it was cheap, I bet I will easily get my money back if we desided to sell.

My old house (I bought it new) in the same village was by the way sold to a Thai family, the monks told them it's good, so they bought it .

Didn't earn much on it but living for free in it for 3 years and perhaps 1-200k baht in the bank .

[David48]

No mystery about it.

The majority of farangs here are buying real estate illegally, ...

'The majority'

Now ... I like a good story ... any reference to back your statement?

Just references ... no observations please ... I like facts.

Fact: since a foreigner can't own land, all the methods circumventing the prohibition, are in fact illegal and unsecure. Debate on that.

Sure ... is all Real Estate a House?

Many Westeners buy Condos/Apartments ... depending on your terminology.

I have a University Degree in Property.

When you are ready to play in the Big League ... drop by and have a chat.

Till then ... back on your bike paz

To the OP ... great topic BTW ...

[doontp]

I'll share my story with you. I'll try to keep it short and to the point.

5 yrs ago I arrived here with my eyes wide shut, paid about Bt1m and had a house built in Isaan with dreams of living in it. My house now sets empty. In my case I legally own the place because I'm half Thai. I got tired of my so-called relatives and neighbors always asking me for money. I now live in Bkk away from them. It took about a year to fully realize my relatives only like money. I deny them money and they show me their back.

I grew up in the US and never knew anything about Thai culture until I got here. I was stupid. The light is now on.

I don't think it's fair to attribute that to Thai culture. It is something that happens in all developing Asian countries - the richer relatives (either through living abroad like your case, or through a marriage to a foreigner) will always be asked to provide cash streams to poorer parts of the family. Ive seen exactly the same scenario in Philippines, China, Indonesia and Cambodia. I'm sure it is also the case elsewhere.

We see it as strange because it's something our western sensibilities hasn't experienced.

I brought a "share with the family" mentality with me. I gave\shared, but it was never enough. They always wanted more.

[maprao]

No mystery about it.

The majority of farangs here are buying real estate illegally, ...

'The majority'

Now ... I like a good story ... any reference to back your statement?

Just references ... no observations please ... I like facts.

Fact: since a foreigner can't own land, all the methods circumventing the prohibition, are in fact illegal and unsecure. Debate on that.

Sure ... is all Real Estate a House?

Many Westeners buy Condos/Apartments ... depending on your terminology.

I have a University Degree in Property.

When you are ready to play in the Big League ... drop by and have a chat.

Till then ... back on your bike paz

To the OP ... great topic BTW ... alt=thumbsup.gif width=25 height=19>

I don't really want to join the bun fight but what may I ask is a "Degree in Property"?????