The best place to buy a house?

[ThaiHerbs]

I've said this before but I will never get married. If someone did I'd recommend a highly educated gal with a good job and regular hours.

She can buy a house with a loan in her name on the new house scheme. She needs about 50k baht down. She probably bought a car on the new car scheme.

She probably makes 30 - 50k pm. More like 30. You step in and put another 50k in the pot pm. Now you have a family income of 80k, and her house and car payments are no problem. You live just fine. You pay cash for your car and/or scooter in your own name.

Now if everything in the relationship goes sideways, you pack your suitcase and drive away.

I don't understand farangs who grab a gal with nothing, and pour their life savings into the relationship including a house. Maybe it works out but... One should be aware that he is now worth more dead than alive.

Interest rates are still cheap. Buy a house for GF/WIFE with minimum down payment (circumstances vary), you pay the monthly mortgage which if you do not overbuy will be close to what you would pay to rent a similar house. If the relationship works the gf/wife/family gets a house, if it does not work out she gets the house with mortgage. What you save from not paying all cash put into gold bars locked away - IMO gold prices will be MUCH higher in 5-10 years.

[FiftyTwo]

I've said this before but I will never get married. If someone did I'd recommend a highly educated gal with a good job and regular hours.

She can buy a house with a loan in her name on the new house scheme. She needs about 50k baht down. She probably bought a car on the new car scheme.

She probably makes 30 - 50k pm. More like 30. You step in and put another 50k in the pot pm. Now you have a family income of 80k, and her house and car payments are no problem. You live just fine. You pay cash for your car and/or scooter in your own name.

Now if everything in the relationship goes sideways, you pack your suitcase and drive away.

I don't understand farangs who grab a gal with nothing, and pour their life savings into the relationship including a house. Maybe it works out but... One should be aware that he is now worth more dead than alive.

Unless she has a government job, she will need about 250-300k deposit.

10% of the house price + 6% for the compulsory life insurance + 20k land office loan registration fee + 20k in nickle and diming.

A 25k/month income will get her a 1.5Mbht home loan.

So your costs were a bit off, up front too low, monthly payments too high.

Yes, I was thinking government job because I know a teacher with a master's degree and some sort of authority in a public school who makes 30k. She is buying right now a new small house and scraping up the 50k she needs to close the deal.

Perhaps the builder also padded the deal for her?

Nah, if she's a teacher she can get 100-110% home loan, so that almost pays everything.

[FiftyTwo]

Interest rates are still cheap. Buy a house for GF/WIFE with minimum down payment (circumstances vary), you pay the monthly mortgage which if you do not overbuy will be close to what you would pay to rent a similar house. If the relationship works the gf/wife/family gets a house, if it does not work out she gets the house with mortgage. What you save from not paying all cash put into gold bars locked away - IMO gold prices will be MUCH higher in 5-10 years.

Interest rates are 7%, not that cheap.

My house rental was 5k/month, buying it costs me 12k/month + 300k up front.

I don't call rentx2.5 similar.

[elektrified]

I don't understand farangs who grab a gal with nothing, and pour their life savings into the relationship including a house. Maybe it works out but... One should be aware that he is now worth more dead than alive.

I never understood that either. I always checked to see what assets a potential partner had before continuing with a relationship. Many farangs get involved with women with no savings, investments, real estate, vehicles, etc. Some are even insolvent. Who would do that in the West?

You mean you don't understand that love is blind and you've never encountered the same, I don't believe you.

What I mean is that I always checked to see what I was getting myself into. Basic common sense.

[personchester]

Haha lots of cynical peeps here while you cannot buy a house legally in Thailand you can buy one for your LONG TERM partner and protect yourself 100% its just takes a bit of research but I personally know many guys here that live happily in their houses with their wives and kids without even an iota of fear they will be homeless any time soon or lose their home even if they were to split up.

99% of the posters here have no clue and are just spouting regurgitated crap and it just takes a little proper research to show you can control a property 100%

Hello Forum Poster Newcomer ...

Your logo picture seems to be indicative of the fact that the contents of your second "para" above are of bad mannerism and insulting to forum members,

Therefore bear in mind that such unsophisticated statements in forum posters are not recommendable, just state on those occasions that you disagree with the given % of the posters, and then outline your own opinion, which might be right, or might be wrong, but you are entitled to outline your views in a cultured manner.

[naboo]

1.1 million house, 25km from Chiang Mai, 200,000B down, 920,000B mortgage (20,000B or so insurance, not sure where the poster above got 6% from, maybe GSB are cheap)

Mortgage payments under 6000B a month, will rise to 7500B or so after initial 3 year interest discount.

Not everyone wants to live in Lamphun, but 3 beds, 3 baths on 80sq/wah at that price (June 2013) beats anything in Chiang Mai!

Yes, its my wife's, but I can walk away from what is effectively reduced rent if that's what she wants.

[DavidMavec]

Cuenca, Ecuador. No sarcasm intended.

[Rancid]

Everyone has different needs and timespans. I bought a house in my daughters name and lived there for 6 years.

I am back home now so renting it out. When i return again later it will still be there plus some money in the bank to renovate.

Sent from my GT-I9300 using Thaivisa Connect Thailand mobile app

[expatsupreme]

> The best place to buy a house?

Greece.

Also look at Portugal.

Some bargains to be found in the South of Spain too. I lived there for a while...very nice lifestyle. But when I lived there, nothing was under 200-300,000 Euros. Not anymore.

south of Spain??

you know that gov will tax those houses heavily later? Spain is the bigger risk than Thailand, not recommended

[elektrified]

> The best place to buy a house?

Greece.

Also look at Portugal.

Some bargains to be found in the South of Spain too. I lived there for a while...very nice lifestyle. But when I lived there, nothing was under 200-300,000 Euros. Not anymore.

south of Spain??

you know that gov will tax those houses heavily later? Spain is the bigger risk than Thailand, not recommended

LOL not quite. No risk whatsoever. The "risk" you saw on the news was from people who had paid developers who never completed the projects before the bubble burst and then they went Bankrupt. An existing home is a different story. Spain has a very old law on its books that basically translates to "a man's home is his castle". It is virtually impossible for someone to be removed from their home whether it be from a court action or whatever. Even if property is left to someone by way of inheritance and there is a tenant occupying the property, it is almost impossible to have that person evicted and could take many, many years in court and may not be successful. All they have to say is that the owner promised them they could live on the property for the remainder of their life. You can buy a home as a foreigner and not lose a wink of sleep.

I don't know where you heard the thing about heavy taxes?

[FiftyTwo]

> The best place to buy a house?

Greece.

Also look at Portugal.

Some bargains to be found in the South of Spain too. I lived there for a while...very nice lifestyle. But when I lived there, nothing was under 200-300,000 Euros. Not anymore.

south of Spain??

you know that gov will tax those houses heavily later? Spain is the bigger risk than Thailand, not recommended

LOL not quite. No risk whatsoever. The "risk" you saw on the news was from people who had paid developers who never completed the projects before the bubble burst and then they went Bankrupt. An existing home is a different story. Spain has a very old law on its books that basically translates to "a man's home is his castle". It is virtually impossible for someone to be removed from their home whether it be from a court action or whatever. Even if property is left to someone by way of inheritance and there is a tenant occupying the property, it is almost impossible to have that person evicted and could take many, many years in court and may not be successful. All they have to say is that the owner promised them they could live on the property for the remainder of their life. You can buy a home as a foreigner and not lose a wink of sleep.

I don't know where you heard the thing about heavy taxes?

Wasn't it Spain that kept building roads on peoples land, and charging them for it?

http://www.spanishpropertyinsight.com/legal/land-grab-in-spain/

Edited November 14, 2013 by FiftyTwo

[chiang mai]

> The best place to buy a house?

Greece.

Also look at Portugal.

Some bargains to be found in the South of Spain too. I lived there for a while...very nice lifestyle. But when I lived there, nothing was under 200-300,000 Euros. Not anymore.

south of Spain??

you know that gov will tax those houses heavily later? Spain is the bigger risk than Thailand, not recommended

LOL not quite. No risk whatsoever. The "risk" you saw on the news was from people who had paid developers who never completed the projects before the bubble burst and then they went Bankrupt. An existing home is a different story. Spain has a very old law on its books that basically translates to "a man's home is his castle". It is virtually impossible for someone to be removed from their home whether it be from a court action or whatever. Even if property is left to someone by way of inheritance and there is a tenant occupying the property, it is almost impossible to have that person evicted and could take many, many years in court and may not be successful. All they have to say is that the owner promised them they could live on the property for the remainder of their life. You can buy a home as a foreigner and not lose a wink of sleep.

I don't know where you heard the thing about heavy taxes?

I think the reference is to a likely future tax on foriegn owned property, similar to the idea being floated in the UK currently about taxing foriegn property ownership. When governements are strapped for cash they will invent ways to find some and the foriegn community is a good target, it doesn't upset the voters.

[elektrified]

I see what you are saying. Anything is possible. But still safe to buy (and in your own name).

[timtscott]

I live in Cincinnati Ohio it quite easy to buy a decent home here for $100,000. If you purchase it on a 30 year note your monthly mortgage is less than rent. I still rent just because I will be retiring in a couple of years and don't want to tied down by owning property. When I do move to LOS I will rent as well. That way if I get bored in a specific area or decide I lay want to try living in the Philippines or Peru or whoever I can just pack up my crap and move. Never have understood the obsession with home ownership. It in the long run everything is temporary, so we are all just renters anyway. Of course I don't have a family to protect.

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[elektrified]

When I do move to LOS I will rent as well. That way if I get bored in a specific area or decide I lay want to try living in the Philippines or Peru or whoever I can just pack up my crap and move. Never have understood the obsession with home ownership. It in the long run everything is temporary, so we are all just renters anyway. Of course I don't have a family to protect.

I agree. For single people, renting is the way to go in Thailand. If you buy a condo, you may be stuck with it and never be able to sell it unless you take a substantial loss. If you have children that is another thing altogether. I'm starting to look into what is involved in buying property here and vesting title in my child's name, for his benefit. His mother already has one of her properties put aside for him, although in her name. But if I was single I would continue to rent (in Thailand). In Europe I would certainly buy where it is totally safe. I would never buy in the USA again where you can lose your property. I'm not a fan of real property anyway. I prefer owning shares where I can sell on a moments notice. Real Estate - you could wait years for a sale. IMHO.

[expatsupreme]

> The best place to buy a house?

Greece.

Also look at Portugal.

Some bargains to be found in the South of Spain too. I lived there for a while...very nice lifestyle. But when I lived there, nothing was under 200-300,000 Euros. Not anymore.

south of Spain??

you know that gov will tax those houses heavily later? Spain is the bigger risk than Thailand, not recommended

LOL not quite. No risk whatsoever. The "risk" you saw on the news was from people who had paid developers who never completed the projects before the bubble burst and then they went Bankrupt. An existing home is a different story. Spain has a very old law on its books that basically translates to "a man's home is his castle". It is virtually impossible for someone to be removed from their home whether it be from a court action or whatever. Even if property is left to someone by way of inheritance and there is a tenant occupying the property, it is almost impossible to have that person evicted and could take many, many years in court and may not be successful. All they have to say is that the owner promised them they could live on the property for the remainder of their life. You can buy a home as a foreigner and not lose a wink of sleep.

I don't know where you heard the thing about heavy taxes?

wow , so that is even worse. When you are away, some bum settles in your home and claims you allowed him to stay there

also gov will tax those underpriced properties that are selling now for lower price, and nobody knows for how much, that is a big problem

[BillyBobThai]

Sounds like it is time for some one to start building mobile homes. Move it if or when the need arises.

[expatsupreme]

thai gov is smart not alowing forigners to buy properties, otherwise everything would be bought already

somebody claimed to rent and to buy gold, gold went only in 1 year from 55 to 41 -- are you still sure to buy gold? probably this is a good tie to buy because it is low, but still how you know gold will be valuable in the future?