Is this a good price for the house?

[scorecard]

Karnkanok 1 is badly run.. Petty actions by the moobaan admin woman make it a pain.. And the build quality is truly awful. the house I am in has failed foundations, massive cracks and patching, and a court battle between the landlord and the developer. The developer keeps patching over the issues with zero effort to fix the actual issues.

No way I would consider 2.5 for one on there, is also miles out of town, but thats a bonus for me.

This is for me a critical point:

- Is the building quality what was promised?

- Does the developer honor what's in the contract?

- Is there any plan for an owners committee?

- Is the developer controlling what happens inside the moo baan / does the original contract sell out clearly what owners can / cannot do? (Example: houses converted to mini marts or motor cycle repair shop etc. I have a good friend who bought in a new moo baan just a few months ago. Already serious problems with 5 dogs in nearby house, they all bark continuously and they all roam the soi, frightening children etc. Owner refuses to do anything / developer refuses to do anything. And more.

[scorecard]

On Sunday we just drove out that road on our way to the hot springs... There are at least 20 new moo baan development being built out there... Signs have prices from 1.8... 2.5 million... Seems like it would be a good idea to drive out there and shop around... Your 2.5 million would get you in the high end of any of the new developments... You could pick the lot, house style and do some custom finishes... There are risks (but what you are looking at has risked too)...

Take your time, check everything, don't buy unless it fits all your check points.

[Oscar2]

no thai lady, I am not a nutter, never....

just love the house...that is it, and I could sell it later for 3 mill

unfortunately foreigners can't buy homes here so don't even bother thinking about it.

and it's over-priced for being out in the boonies of San Kamphaeng and not a very nice home with small rooms, no space for garden....

off to the info incorrect quote court OSCAR2

uhhh whatcha trying to say there gerry? cat got your tongue?

[kjhbigv]

Was out that way a few weeks ago.....they are building A LOT of new developments out that way.....also a fair distance from town.

I would say for that price you would have a fair selection to choose from and as others have said, all down to the quality of construction.

Recently, I have seen buildings being built on very recently reclaimed rice fields with completely inadequate foundations....when finished you would never know!

But more importantly....how could you own it? I just wish one day we could actually be allowed to lawfully own our own house, just one!

[Dante99]

How can you know what a house is worth if you do not know how well it was built and the quality of the materials used?

Yes location is significant but build quality can easily change the value by a factor of two or more. Wire sizes, breaker box or one fuse, tile quality, quality of the fixtures, aluminum and glass thickness on the windows and doors, doors 300 baht or 7,000 baht, .............

Ever hear of Zillow? They're worth 3.2 billion usd. They appraise houses without looking at them.

Does Zillow do that for houses in Chiang Mai? Their website seems to be only US so please let us know how to get CM info from Zillow.

[Sparkles]

With the amount of new moo bans and houses being built in CM the chances of any capital gain are pretty close to zero.

No building codes, in some cases sub standard supervision and workmanship.

Cheap construction means high maintenance and replacement cost of inferior products can come very early in the piece.

Buyer beware.

[Thighlander]

How can you know what a house is worth if you do not know how well it was built and the quality of the materials used?

Yes location is significant but build quality can easily change the value by a factor of two or more. Wire sizes, breaker box or one fuse, tile quality, quality of the fixtures, aluminum and glass thickness on the windows and doors, doors 300 baht or 7,000 baht, .............

Ever hear of Zillow? They're worth 3.2 billion usd. They appraise houses without looking at them.

Does Zillow do that for houses in Chiang Mai? Their website seems to be only US so please let us know how to get CM info from Zillow.

Not yet, but Kasikorn Bank appraised my house without stepping foot on the property.

[Beetlejuice]

That real estate website has appeared on Thai visa before.

This thread appears to be a way to get people to view the website. Try going the proper route and advertise in the classifieds instead.

I would never purchase land or property from an agent owned by farangs at farang prices.

Edited January 27, 2014 by Beetlejuice

[Oscar2]

That real estate website has appeared on Thai visa before.

This thread appears to be a way to get people to view the website. Try going the proper route and advertise in the classifieds instead.

I would never purchase land or property from an agent owned by farangs at farang prices.

indeed it does seem to be posted in order to get hits on that website which is dominated by a couple of farangs offering apartments for astronomical prices. indeed anyone in Thailand should stay clear of farangs claiming to own properties or be agents. one featured property on every page "owned" by a guy named 'John' for 27.5 million Bath in Chiang Rai is a hideous property with houses so close and looking down on to the swimming pool. i doubt the house is worth more than 3.5 million Bath but hey an English language website in Thailand...some sucker may come along and buy "John's house" lol.

[funcat]

That real estate website has appeared on Thai visa before.

This thread appears to be a way to get people to view the website. Try going the proper route and advertise in the classifieds instead.

I would never purchase land or property from an agent owned by farangs at farang prices.

"...I would never purchase land or property from an agent owned by farangs at farang prices..."

Can you elaborate on this,pls ?

[expatsupreme]

it just looked nice to me, i want 2 storey house but with a wall around it and little bit of land to grow some stuff

i would have a car, so 15 minutes drie to cm should not be a problem,

i guess i will be looking, do you think somebody else will sell a house like this for 2 million?

Dunno what the usuall prices for houses like that are in CM

[Beetlejuice]

That real estate website has appeared on Thai visa before.

This thread appears to be a way to get people to view the website. Try going the proper route and advertise in the classifieds instead.

I would never purchase land or property from an agent owned by farangs at farang prices.

"...I would never purchase land or property from an agent owned by farangs at farang prices..."

Can you elaborate on this,pls ?

.I would never purchase land or property from an agent owned by farangs at farang prices.. .I would never purchase land or property from an agent owned by farangs at farang prices..

Edited January 28, 2014 by Beetlejuice

[Beetlejuice]

it just looked nice to me, i want 2 storey house but with a wall around it and little bit of land to grow some stuff

i would have a car, so 15 minutes drie to cm should not be a problem,

i guess i will be looking, do you think somebody else will sell a house like this for 2 million?

Dunno what the usuall prices for houses like that are in CM

Firstly to purchase any land legally as a Westerner, it should either be completely bought with your Thai wife`s money or as part of a legally registered Thai trading company that you own. If not able to do this, than the following does not apply to you:

Best method is find a suitable plot of land up for sale by a Thai seller, than design your own house and hire the services of Thai builders to build it for you on the land. Another option is to buy a condominium. Take some trustworthy savvy Thai people with you to do the land price negotiating with the sellers, otherwise if you show your face the prices will increase.

This way you will save a truck load of money and be able to avoid any agents rip-off commissions for doing sweet bugger all or making purchases of land and properties from real estate speculators and dodgy owners.

Anyone who uses these so-called real estate agents if seeking land and property do so at their own risk and description, and for those who do prefer the real agent route, should be prepared to pay well over the odds.

[WinnieTheKhwai]

Ah now I get it.

How about purchasing land or property from an agent owned by farangs and fair market prices, or slightly below?

[Oscar2]

it just looked nice to me, i want 2 storey house but with a wall around it and little bit of land to grow some stuff

i would have a car, so 15 minutes drie to cm should not be a problem,

i guess i will be looking, do you think somebody else will sell a house like this for 2 million?

Dunno what the usuall prices for houses like that are in CM

there are oodles of 'em for even less. but since you don't have a Thai wife and you are not Thai, it doesn't really matter!

[Oscar2]

Ah now I get it.

How about purchasing land or property from an agent owned by farangs and fair market prices, or slightly below?

sounds good to me. but I'm not a Thai and can't make the purchase. my wife could but she won't.

[funcat]

That real estate website has appeared on Thai visa before.

This thread appears to be a way to get people to view the website. Try going the proper route and advertise in the classifieds instead.

I would never purchase land or property from an agent owned by farangs at farang prices.

"...I would never purchase land or property from an agent owned by farangs at farang prices..."

Can you elaborate on this,pls ?

.I would never purchase land or property from an agent owned by farangs at farang prices.. .I would never purchase land or property from an agent owned by farangs at farang prices..

I thought it would be a reason for this,but......ehh,forget it.....somebody names his price and than comes "agent"...and the price goes up....Thai-farang same same...you gettin weired in your 'thainess'

[Beetlejuice]

That real estate website has appeared on Thai visa before.

This thread appears to be a way to get people to view the website. Try going the proper route and advertise in the classifieds instead.

I would never purchase land or property from an agent owned by farangs at farang prices.

"...I would never purchase land or property from an agent owned by farangs at farang prices..."

Can you elaborate on this,pls ?

.I would never purchase land or property from an agent owned by farangs at farang prices.. .I would never purchase land or property from an agent owned by farangs at farang prices..

I thought it would be a reason for this,but......ehh,forget it.....somebody names his price and than comes "agent"...and the price goes up....Thai-farang same same...you gettin weired in your 'thainess'

Please let me explain in a way so that even you may understand:

I would never use the services of any real estate agent here in Thailand because I have lived here a very long time and took the trouble to learn how to conduct my affairs without using any agents.

I would especially avoid using farang managed agencies because the chances are that these so-called real estate wheelers and dealers are using Thais to front their company ownerships and the practices of these businesses are often questionable. In many cases I guess that the farangs who run these agencies will also hold interests in the land and properties up for sale or rent on their websites, it`s really just a guise as a legitimate estate agency but in actuality these are property speculators trying to gain big profits very quickly.

Edited January 28, 2014 by Beetlejuice

[funcat]

"...I would never purchase land or property from an agent owned by farangs at farang prices..."

Can you elaborate on this,pls ?

.I would never purchase land or property from an agent owned by farangs at farang prices.. .I would never purchase land or property from an agent owned by farangs at farang prices..

I thought it would be a reason for this,but......ehh,forget it.....somebody names his price and than comes "agent"...and the price goes up....Thai-farang same same...you gettin weired in your 'thainess'

Please let me explain in a way so that even you may understand:

I would never use the services of any real estate agent here in Thailand because I have lived here a very long time and took the trouble to learn how to conduct my affairs without using any agents.

I would especially avoid using farang managed agencies because the chances are that these so-called real estate wheelers and dealers are using Thais to front their company ownerships and the practices of these businesses are often questionable. In many cases I guess that the farangs who run these agencies will also hold interests in the land and properties up for sale or rent on their websites, it`s really just a guise as a legitimate estate agency but in actuality these are property speculators trying to gain big profits very quickly.

I may agree with you,if I had any experience with them,but I don't....do you?

When,where and how did you buy your last property...you can share your experience with those who are new here ? Are those 'farang' agencies setting the RE market prices in Thailand?

...and how the new arrived to Thailand can find those trusted Thai friends to help them to evaluate,if they are getting ripped off,or not ?....just asking...

[WinnieTheKhwai]

I can tell you how we bought property.. by leafing through Thai language property / trading sites and bank real estate pages. This applies to city houses and condominiums especially.

And for land in a scenic area we drove through scenic areas (surprise. ) with some guidance from Google Earth; look for the hilly green stuff but with villages nearby). Then we asked at the local noodle shop who has land for sale.

I did scan through real estate sites too, most of those run by local agents. Some of the houses offered there did actually make the short list, so I wouldn't rule it out entirely, especially for purchase (rental prices tend to make less sense on those sites.)

Then mortgage shopping at banks. Which is fun because banks have an entirely different perception of value than I have. Like for rural land they care if it's wet and flat enough to grow rice. They don't care if it has stunning mountain views unless it's right next door to Kritsada Doi or some other posth resort, at which point some may acknowledge that there is potential other than growing rice and corn.

And for houses and condominiums they care if the place is new and in a posh development. They don't care if it's in an inner city location that is likely to become more desirable, and from where you can actually walk out to the door to shops, markets and restaurants, as opposed to being 10 kms out on the new Sankamphaeng Road where you're not going anywhere unless by car.

Edited January 28, 2014 by WinnieTheKhwai

[funcat]

I can tell you how we bought property.. by leafing through Thai language property / trading sites and bank real estate pages. This applies to city houses and condominiums especially.

And for land in a scenic area we drove through scenic areas (surprise. ) with some guidance from Google Earth; look for the hilly green stuff but with villages nearby). Then we asked at the local noodle shop who has land for sale.

I did scan through real estate sites too, most of those run by local agents. Some of the houses offered there did actually make the short list, so I wouldn't rule it out entirely, especially for purchase (rental prices tend to make less sense on those sites.)

Then mortgage shopping at banks. Which is fun because banks have an entirely different perception of value than I have. Like for land they care if it's wet and flat enough to grow rice. They don't care if it has stunning mountain views.

Thanks WTK...that's some valuable info...of course,this requires some experience,lots of foot work ,time and patience...and one more think,we,as foraigners can't show our face around the deal,because than we will get this 'farang' price,no ?

[WinnieTheKhwai]

Not only is it best for foreigners not to be too obvious, because then they'll think my last name is Hilton or Shangri-La, but even the missus would do well to under-dress, speak local Chiang mai dialect and drive up in an old pick-up truck. So as to not get mistaken for a property developer, rich Bangkokian or others that might want the land for something other than growing something.

That applies to rural land more than buying condominiums. At some point you're also just telling them what the budget is, so they can either take that or not.

And then for some Thai women it is so completely obvious they have a Farang husband that the guy might as well join.

Edited January 28, 2014 by WinnieTheKhwai

[Beetlejuice]

I may agree with you,if I had any experience with them,but I don't....do you?

When,where and how did you buy your last property...you can share your experience with those who are new here ? Are those 'farang' agencies setting the RE market prices in Thailand?

...and how the new arrived to Thailand can find those trusted Thai friends to help them to evaluate,if they are getting ripped off,or not ?....just asking...

These online estate agents are not setting land and property prices. What they rely on is naive foreigners who maybe considering buying into the Thai property market but do not know of any other means of going about getting involved with land purchase here and therefore will try it on by advertising real estate at highly inflated prices. The majority of Thais will never use a real estate agent.

My Thai wife inherited her land from her grandparents and then she had a house built on the land by local builders, all this before we were married. Later I paid and had the building extended adding a couple of more rooms for the kids and decorated.

After we were married and had children my wife and I later transferred the whole lot into the names of our kids. So once I`m gone up there or down there whatever is decided for me, they can then all fight over or decide to share what is left. Legally in Thailand I own nothing, but I`m safe and have no worries or anything to hide.

Our Winnie makes some excellent points, he`s an old hand here and I advise you listen to him, but I can only advise you as follows:

I have no idea of your present situation, but for those who arrive here alone, have no Thai families or close friends, I advise that they first rent and bide their time until becoming established here, making friends and contacts or finding a wife on the way, (and be careful regarding buying property for a GF or wife) then later consider purchasing a home on the conditions as imposed by Thai law, or in other words the legal way.

For the new, the naive and the inexperienced, there are the hyenas and the lions waiting to jump the gullible at the water hole and this includes the real estate agents that will tell Mr Gullible anything he wishes to hear in order to gain their commissions.

My main message being, rent first and consider buying later, don`t jump in at the deep end.

I am sure even Winnie will agree with me on this one.

Edited January 28, 2014 by Beetlejuice

[WinnieTheKhwai]

> I am sure even Winnie will agree with me on this one.

LOL, yes, indeed I do.

It's actually debatable if buying ever makes sense. It probably does in some cases, but not in many others.

[funcat]

> I am sure even Winnie will agree with me on this one.

LOL, yes, indeed I do.

It's actually debatable if buying ever makes sense. It probably does in some cases, but not in many others.

...for kids...maybe... ?