Buying a condo in Thailand

[godden]

high railings on the balcony would be a good idea

[Suradit69]

Best of luck ,you are going to need it.

Concur 100%.

Buying property in Thailand, even keeping money in a bank in Thailand, is foolish. I rent, and I keep my money elsewhere.

There's nothing foolish about those things whatsoever. All bank accounts are insured and property (condo's), as long as they are bought wisely, are easy to dispose of at equal value of better - I speak from over ten years experience here of owning/selling condo's and operating a range of bank accounts..

It is situation specific, but keeping money is the US or European stock markets or buying real estate in the US or parts of Europe at the wrong time has proved in retrospect to be more than foolish.

I bought my condo 10 years before I retired and used it annually for two or three months per year while on holidays. Now another 8 years living in it full time. I have no plans to sell it ever and realize reselling a condo is not that easy, but after all these years and all the rent/ hotel costs saved I would still be way ahead in terms of an investment no matter what I was able to sell it for, especially compared to what would have happened if I had held onto real estate in the US or if I had kept it all invested there.

Likewise I keep up to a year's living expenses in my Thai bank, adding when rates are good and coasting on the cheaper baht in the account when rates are not so good. Never had a baht go missing in all they years I've banked here and never had Mario Draghi or his Cypriot peers freeze my account or threaten to confiscate some of my money. I also keep 6 months or more in living expenses in locally bought gold, more as a hedge against the US dollar printing presses than concern over the baht.

If I were first coming to Thailand at my current age, buying a condo would probably be a waste of money, but buying when I did has proven to be a great investment. At this point my cost of accommodation is close to nothing and no one can raise my rent.

When I die, my Thai heir will get a fair amount of money from selling the place. That wasn't why I bought it but it certainly will be a better inheritance than would a rented room with rent due at the end of the month. Even if it only realizes half what its market value should be, it will be a tidy chunk of change.Whether I die tomorrow or especially if I keep pottering about for another 10 to 20 years, it will be one of my better investments.

If you are seriously worried about the political situation, then why settle here anyway? Considering the political damage done in the US over the past couple of administrations and the hit investors, homeowners, pensioners, the marginally employed, small businesses ... have taken there, claiming any place is safer than Thailand is a naive stretch to credulity.

Edited January 6, 2014 by Suradit69

[FiftyTwo]

If you are seriously worried about the political situation, then why settle here anyway? Considering the political damage done in the US over the past couple of administrations and the hit investors, homeowners, pensioners, the marginally employed, small businesses ... have taken there, claiming any place is safer than Thailand is a naive stretch to credulity.

Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future.

[chiang mai]

If you are seriously worried about the political situation, then why settle here anyway? Considering the political damage done in the US over the past couple of administrations and the hit investors, homeowners, pensioners, the marginally employed, small businesses ... have taken there, claiming any place is safer than Thailand is a naive stretch to credulity.

Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future.

The only thing that's getting more likely is that absolutely everyone will soon come to believe that you have a negative attitude about everything!

And hey, where's your link to substantiate your earlier BS, Tommo?

[FiftyTwo]

If you are seriously worried about the political situation, then why settle here anyway? Considering the political damage done in the US over the past couple of administrations and the hit investors, homeowners, pensioners, the marginally employed, small businesses ... have taken there, claiming any place is safer than Thailand is a naive stretch to credulity.

Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future.

The only thing that's getting more likely is that absolutely everyone will soon come to believe that you have a negative attitude about everything!

Probably a better position than you are in, where absolutely everyone already believes you are 100% wrong about everything.

PS

How can I have a negative attitude about everything?

I love living in Thailand, I think it's great I can buy a wife and children.

I think it's great that I can bribe the police, and break almost any law I like.

Not to mention the girls on the side, the increasingly attractive exchange rate.

I'm looking forward to the civil war, exchange rate will get better, but that's not for everyone.

Edited January 6, 2014 by FiftyTwo

[thailiketoo]

If you are seriously worried about the political situation, then why settle here anyway? Considering the political damage done in the US over the past couple of administrations and the hit investors, homeowners, pensioners, the marginally employed, small businesses ... have taken there, claiming any place is safer than Thailand is a naive stretch to credulity.

Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future.

Those who forget the past are doomed to repeat it. Now lets see when was the last time Thailand kicked out a foreign population without going to war with said country? .......... 1400 or 1500 and something or around there I think. Are we safe yet?

Edited January 6, 2014 by thailiketoo

[Suradit69]

If you are seriously worried about the political situation, then why settle here anyway? Considering the political damage done in the US over the past couple of administrations and the hit investors, homeowners, pensioners, the marginally employed, small businesses ... have taken there, claiming any place is safer than Thailand is a naive stretch to credulity.

Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future.

So if you feel that way, why are you here?

No, I'm not saying you should go home, but just wondering why, if you dislike Thailand so much and feel any minute you're going to be held hostage or put on an emergency evacuation air lift out of here, why stay here? What sort of a holiday or enjoyable retirement or whatever can you have if you have to check under the bed every night to see if some bogeyman is waiting for you?

I've lived through coups, terrorism/liberation wars in southern Africa and I stayed in Pakistan when the US was evacuating people ( and charging dearly for the airfare). Life goes on. Thailand is a piece of cake compared to many places in the world.

[FiftyTwo]

No, I'm not saying you should go home, but just wondering why, if you dislike Thailand so much and feel any minute you're going to be held hostage or put on an emergency evacuation air lift out of here, why stay here? What sort of a holiday or enjoyable retirement or whatever can you have if you have to check under the bed every night to see if some bogeyman is waiting for you?

I never said in any post I disliked Thailand.

I'm old, I'm living on borrowed time, well worth any risk for the easy sex and casual lifestyle.

And come the revolution, maybe I'll have fun during that too.

[brucegoniners]

Not a problem. Anyone can own a condo here. You don't need a visa.

[thailiketoo]

No, I'm not saying you should go home, but just wondering why, if you dislike Thailand so much and feel any minute you're going to be held hostage or put on an emergency evacuation air lift out of here, why stay here? What sort of a holiday or enjoyable retirement or whatever can you have if you have to check under the bed every night to see if some bogeyman is waiting for you?

I never said in any post I disliked Thailand.

I'm old, I'm living on borrowed time, well worth any risk for the easy sex and casual lifestyle.

And come the revolution, maybe I'll have fun during that too.

Somehow I don't think the TAT would hire you as a cheerleader, After you wrote,

"Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future."

Did you write that because you are trying to depress the market more than Suthep is doing already?

Honest he doesn't need any help.

[FiftyTwo]

Somehow I don't think the TAT would hire you as a cheerleader, After you wrote,

"Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future."

Did you write that because you are trying to depress the market more than Suthep is doing already?

Honest he doesn't need any help.

Home :- The only place where, when you need somewhere to go, they have to let you in.

[Greenhill]

Not a problem. Anyone can own a condo here. You don't need a visa.

Every foreigner needs a visa!!!!

[thailiketoo]

Somehow I don't think the TAT would hire you as a cheerleader, After you wrote,

"Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future."

Did you write that because you are trying to depress the market more than Suthep is doing already?

Honest he doesn't need any help.

Home :- The only place where, when you need somewhere to go, they have to let you in.

I hope the door doesn't hit you. Good luck. Or. Why would you write the above if you didn't really want to go home? Or. Are home. Otherwise you are just trying to depress people who were in a good mood about Thailand.

Edited January 6, 2014 by thailiketoo

[mrfaroukh]

You probably can buy but you just remember if you bring the money with you, then you must declare it at immigration and tell them you want to buy a condo with this money, then they give you some paper regarding this. I think the amount should be minimum 25000 $ up.

Or

If you can open an account on tourist visa then you must transfer the money from your bank to the one in Thailand. Ask the bank people how to do it. I think you must also tell bank the money is to buy a condo so they give you a receipt for this.

But I don't think it is advisable to just buy a condo like that. You should be familiar with the area, the project, etc. You should be living in a condo in the project you intend to buy to get the feeling if you really want to live there or not. Some people complain about noise, neighbors, etc etc.

By the way where did you find the condo for less than 1 million Baht for the size 35-80 qm. I can understand 35 but not 80

Good luck

[luis888]

If you are seriously worried about the political situation, then why settle here anyway? Considering the political damage done in the US over the past couple of administrations and the hit investors, homeowners, pensioners, the marginally employed, small businesses ... have taken there, claiming any place is safer than Thailand is a naive stretch to credulity.

Almost every western country is safer than Thailand at the moment.

And your home country can't throw you out, Thailand can, and getting likely to in the near future.

I'm sorry, in what way do you mean safer than Thailand? and why would you get thrown out, are you expecting a revolution, a civil war? Turism is fundamental in the Thai economy and all the Farangs either visiting or residing are Dollar / Euro / Pound spinners

Edited January 6, 2014 by luis888

[muffinzman]

where are you looking? i am looking in bangkok for a studio for 1 to 1.5 million baht and there is nothing under 2.5 million baht. I did see one in chang mai for 1 million

[jacko45k]

Best of luck ,you are going to need it.

Concur 100%.

Buying property in Thailand, even keeping money in a bank in Thailand, is foolish. I rent, and I keep my money elsewhere.

Do you recommend Cyprus instead?

[chiang mai]

I hope the OP can overlook the single manic poster in this thread who seems to want to depress everyone and convince us all that civil war is afoot, the majority of his posts are similar and he posts such things just to get attention. Ignore him, most of us try to, go ahead with your plans and like the vast majority of people here, have a fun and happy retirement. Any of us who have been here for any amount of time have seen the events in Bangkok before, this will be my third time. Even when things were really bad in Bangkok a few years ago and it appeared we were on the verge of armed insurrection, life everywhere else in the country carried on as normal, in Chiang Mai, Phuket and Pattaya it was hard to imagine there was anything wrong anywhere in the country, we expect the current melee to be similar. Good luck and don't be put off by idiots.

[pitchag]

Bargains to be had in Ban Chang right on the beach start at 600,000 with beach view in Payun beach Cliff view only 40mins from Pattaya 30 mins from Rayong

I bought 3 of the large studios 45 sq mt each and converted them into to a two bedroom 135 sq mt condo I love the place and will only leave feet first when my time comes ( not too soon I hope ) love the peace here and do not miss the crazy traffic jams in Pattaya one bit

[FiftyTwo]

I hope the OP can overlook the single manic poster in this thread who seems to want to depress everyone and convince us all that civil war is afoot, the majority of his posts are similar and he posts such things just to get attention. Ignore him, most of us try to, go ahead with your plans and like the vast majority of people here, have a fun and happy retirement. Any of us who have been here for any amount of time have seen the events in Bangkok before, this will be my third time. Even when things were really bad in Bangkok a few years ago and it appeared we were on the verge of armed insurrection, life everywhere else in the country carried on as normal, in Chiang Mai, Phuket and Pattaya it was hard to imagine there was anything wrong anywhere in the country, we expect the current melee to be similar. Good luck and don't be put off by idiots.

I hope the op can overlook the single manic poster who wants everyone to lose as much money as he has.

Dont listen to the one previously proven wrong about everything.

[ozyjon]

Best of luck ,you are going to need it.

Concur 100%.

Buying property in Thailand, even keeping money in a bank in Thailand, is foolish. I rent, and I keep my money elsewhere.

Listen to the experienced,, we have had many issues here in this country,, it's not as you see in the tourist brochures and Thailand could fall into very unstable political environment then where will you live,, as said many times, RENT, KEEP YOUR MONEY IN YOUR OWN COUNTRY, if you have a problem in this country you can leave, if you put all your eggs into this country maybe later you can't get them out,, there is no advantage to buying in today's market,, you might never get a buyer in the future and the property might not be able to be handed to anyone else,, YES you can buy anything in this country but then?

[chiang mai]

I hope the OP can overlook the single manic poster in this thread who seems to want to depress everyone and convince us all that civil war is afoot, the majority of his posts are similar and he posts such things just to get attention. Ignore him, most of us try to, go ahead with your plans and like the vast majority of people here, have a fun and happy retirement. Any of us who have been here for any amount of time have seen the events in Bangkok before, this will be my third time. Even when things were really bad in Bangkok a few years ago and it appeared we were on the verge of armed insurrection, life everywhere else in the country carried on as normal, in Chiang Mai, Phuket and Pattaya it was hard to imagine there was anything wrong anywhere in the country, we expect the current melee to be similar. Good luck and don't be put off by idiots.

I hope the op can overlook the single manic poster who wants everyone to lose as much money as he has.

Dont listen to the one previously proven wrong about everything.

http://www.thaivisa.com/forum/topic/610294-obtaining-refund-of-tax-withheld-on-thai-bank-fixed-savings-account/page-3#entry7255057

[Pinot]

Never buy property in Thailand. Never buy property in Thailand.

Sometimes you need to repeat yourself.

[thailiketoo]

Never buy property in Thailand. Never buy property in Thailand.

Sometimes you need to repeat yourself.

Wat was that?

Yours Truly,

William Heinecke

Minor International

PS

Gee don't tell my board of directors. Last time I looked I owned $425 million of Thai property. You say that is not a good idea eh?

[KonKorat]

Best of luck ,you are going to need it.

Concur 100%.

Buying property in Thailand, even keeping money in a bank in Thailand, is foolish. I rent, and I keep my money elsewhere.

Where do u keep the money? Best to leave it with your GF in Pattaya, so when u return u have cash ready!!!!

BTW how old is the smart fellow who wants to buy a condo in the Slums with a tourist visa?

hi,i'm 50yo and i never said i was buying in Pattaya.i am thinking of maybe Chang Mai.i am not rolling in the money like some of you might be.i put an estimation of 1 mil baht as a guide as this is what i can afford to pay in cash.i appreciate all positive and negative coments,cheers

[KonKorat]

Hi,want to thanks everyone for your responses,the information and advice for priceless,cheers and have a great 2014

[KonKorat]

You probably can buy but you just remember if you bring the money with you, then you must declare it at immigration and tell them you want to buy a condo with this money, then they give you some paper regarding this. I think the amount should be minimum 25000 $ up.

Or

If you can open an account on tourist visa then you must transfer the money from your bank to the one in Thailand. Ask the bank people how to do it. I think you must also tell bank the money is to buy a condo so they give you a receipt for this.

But I don't think it is advisable to just buy a condo like that. You should be familiar with the area, the project, etc. You should be living in a condo in the project you intend to buy to get the feeling if you really want to live there or not. Some people complain about noise, neighbors, etc etc.

By the way where did you find the condo for less than 1 million Baht for the size 35-80 qm. I can understand 35 but not 80

Good luck

[KonKorat]

HI,yes i have seen condos online upto 80sq there are many 40-60sq to in this price range,they are second hand condos and most are fully furnished.

[phitsanulokjohn]

There's nothing foolish about those things whatsoever. All bank accounts are insured and property (condo's), as long as they are bought wisely, are easy to dispose of at equal value of better - I speak from over ten years experience here of owning/selling condo's and operating a range of bank accounts..

Advice from a man who told everyone to sell all their UK holdings and bring the money over here at 44bht/GBP (cos it wouldn't get better).

8 months later and 54bht/GBP ........ those who took CMs advice lost 25% of everything they owned.

And when the USA,instead of reducing their quantative easing program,ends it completely,forecast to be at the end of this year,we'll see the baht go right down the swanee.So have patience and wait,and pay a lot less for your condo.

[Delight]

Just a note of caution about buying too cheap. Particularly very low maintenance fees.

A Thai friend of mine bought a condo on the 10 th floor-with low fees.

Both lifts have been out of service for the past 6 months.

No sinking fund and it looks like no chance to fix them.

So I suggest that you purchase a condo on the lower floors if possible -unless ,of course ,you are convinced about the credibility of the Management and the Money