Making the move.

[Rossco52]

Hi all,have been reading Thaivisa for several months now,and have just registered...

I was hoping to get some advice from you seasoned expates..I am close to retirement and have decided to make the move to Thailand.

So I guess this is where some of my questions will be answered. I appoligise if my some of my qts have been covered before..

To buy or rent ??

I am considering the move to Chon Buri Pattaya/Jontiem/Rayon If I was to arrive with say 15m THB what are your thoughts on buying a condo for around 5m,and bank the rest or is it an option to rent for say 30k and put most the money in the bank??What sort of return could you expect from local banks,What (if any is the tax rate on the interest?) I was hoping the return from investment will cover rent/outgoings etc....without eating into capital

sorry to be so long winded,and Im sure this will be one of many questions,,Cheers.

[kannot]

Rent until you decide you either do or dont want to stay, always remember a neighbour can and often will move next to you and make a godamn awful row and not much will be done to stop him/her.

If you deposit money in a Thai bank you may have problems getting it out later, keep it out of Thailand until u r sure.

Id give it at least 2-3 years trial, stay away from women if you can, never tell anyone how much you have.

If you can accept the "Thai nonsense" it ok to live here, it does get VERY hot and sticky

Thai nonsense, reams of paperwork, awful driving, indifferent service, never mind attitude etc etc

The upside, its still cheap, rules and regs are often not enforced, there are "some" very nice women out there who arent dishonest gold diggers.

[transam]

Rent until you decide you either do or dont want to stay, always remember a neighbour can and often will move next to you and make a godamn awful row and not much will be done to stop him/her.

If you deposit money in a Thai bank you may have problems getting it out later, keep it out of Thailand until u r sure.

Id give it at least 2-3 years trial, stay away from women if you can, never tell anyone how much you have.

If you can accept the "Thai nonsense" it ok to live here, it does get VERY hot and sticky

Thai nonsense, reams of paperwork, awful driving, indifferent service, never mind attitude etc etc

The upside, its still cheap, rules and regs are often not enforced, there are "some" very nice women out there who arent dishonest gold diggers.

Yep, and Trans is here................

[CharlieH]

As you have specified an area, lets move this to the local forum for more focused replies.

MOVED

[David48]

Rossco ... a warm welcome to Thai Visa.

Tax is usually @ 10%

Rent, don't buy ... you may not be able to re-sell @ close to the purchase price.

Half a Million Dollars hey ... you will be a very Hansum Man ...

[kannot]

Rent until you decide you either do or dont want to stay, always remember a neighbour can and often will move next to you and make a godamn awful row and not much will be done to stop him/her.

If you deposit money in a Thai bank you may have problems getting it out later, keep it out of Thailand until u r sure.

Id give it at least 2-3 years trial, stay away from women if you can, never tell anyone how much you have.

If you can accept the "Thai nonsense" it ok to live here, it does get VERY hot and sticky

Thai nonsense, reams of paperwork, awful driving, indifferent service, never mind attitude etc etc

The upside, its still cheap, rules and regs are often not enforced, there are "some" very nice women out there who arent dishonest gold diggers.

Yep, and Trans is here................

Infamous!!

[transam]

Half a Million Dollars hey ... you will be a very Hansum Man ...

And do NOT tell anyone..............Trust me........

[ThaiBob]

Rent, until you can make an informed decision. Only bring in enough money for living and keep your money in your home country. These are uncertain times in Thailand and the situation is fluid so you must be flexible.

[jackvale]

Best move I ever made 10 years ago. Began learning Thai online using YouTube as I was planning my 2nd trip which became the foundation for moving here. I have stayed as far from bar girls as possible and can make some genuine friends. It's all about integrating and Thais are really cool when they see you're also loving their country. I just follow their lead like I won't wear sleeveless shirts or do anything that would considered impolite.

I live in Naklua in a 100% Thai apartment. The Thais here are extremely cool with me and there's a lot of respect going both ways. A lot comes down to the lifting of the language barrier. They see I love their country too so they treat me like an insider - outsider. Like any native, you don't want all these foreigners coming over and never learning the language and only speaking their native language (I cringe a little when foreigners say "thank you" when Kob Khun Krab is so easy to say and remember or "soda water" when nam soda is so easy to say.

Good luck and feel free to send me private message if you have any questions that you don't want to publish. I recommend Naklua for the easy transport, proximity to the beach, you can easily walk to Central, and it's inexpensive. The beach here is quiet and the bulk of the foreign tourists are along the beach but hardly ever east of Naklua road.

Bon voyage.

[Bernard Flint]

Come here

rent

lookaround

Dont drink every night

dont give your money to Any thai lady, whether bargirl, freelancer, dark or white skin, uni or issan fields

Treat thais with respect

AND ENJOY, before making any big decision

[Sena Dave]

Realistically depending on how old you are 15 million won't last you forever especially if you do 5 million on a condo. Work out how much you can live well on per month and then pay that money monthly into a separate account. If you want big stuff you can get it out of your main account. If you are not accustom to time on your hands then you'll likely be spending half of it going to the ATM. Lock some money into a time deposit of invest in something safe that will give you 5 or 6 percent, on 10 million its not a bad return

Enjoy yourself , Good luck

[KittenKong]

Rent somewhere pleasant on a yearly contract. You should pay much less than the advertised monthly rate for this.

Dont even think about buying property until you have been here for at least a couple of years. Most property here is a scam and most of the people involved in selling it are scammers.

Buy a car and drive around and see the area.

Leave your money at home.

Do not enter into any sort of "business" deal/investment with anyone here, regardless of nationality.

Dont tell anyone here, regardless of nationality, that you have capital. If asked you just have a modest pension. You cannot imagine how many people here (of all nationalities) may be interested in separating you from your money if they know you have any.

By the way, 15MB probably isnt enough to retire on here unless you will also be getting a decent pension and/or you are prepared to live quite frugally.

[Rimmer]

There is a very long ever changing pinned topic about what you can expect in the way of interest from Thai Banks HERE

There is some good advice for you already here on your topic

[WaywardWind]

Where are you coming from?

I agree with leaving your funds in term deposits in your home country, collect the interest to cover your living expenses here, and spend a year or more getting to know the area before you even think about buying something. Depending on the banks in your home country, you may well earn enough interest to cover most if not all of your expenses here without touching the principal.

If you have a regular pension or other income from home, that can be counted toward meeting the 800,000 THB threshold for a retirement extension. If none, then you will need to deposit the 800K in a Thai bank.

Once you get here and look around, you may well find that the Pattaya area is not what you want long term, and if you are renting, it is easy to make a move elsewhere. If you buy, you may be stuck.

[loppylugs1]

Interst rates are more than likely going to rise in the Uk in next 3 months or so,so the £ will strenghten(possible to get up to 4% too from UK investment.) transfer money from UK bank to K bank or whatever,use K bank ATM card to access it

5 mil would get you a mansion,look for somebody advertising one for 10 mil then make an offering of 3 mil,go upto 4 at a push. The property expert will be along soon I am sure to confirm

Thailand ain't all it is cracked up to be either,couple of years down the road more than likely Philippines might take to your liking

[Sena Dave]

Very difficult to say what a decent budget is as it depends on the person, as mentioned a yearly rent contract will save you money. Depending on your nocturnal habits a Million Baht could last you 2 years or it could last you 6 months

[JB300]

30,000 sounds a lot in rent for the equivalent of a 5Million condo, book in a hotel/guest house for a couple of weeks & tour the area you're interested in, am sure you'll find something much cheaper/nicer.

[loppylugs1]

30,000 sounds a lot in rent for the equivalent of a 5Million condo, book in a hotel/guest house for a couple of weeks & tour the area you're interested in, am sure you'll find something much cheaper/nicer.

15 or less,loads to rent,Naklua is a bit far out as well if you are a single guy

[Torrens54]

Hope you have Health Insurance because they've DITCHED the Health Care Plan that started just last year to cover we "Farang" who contribute so much to the Thai Economy.

Probably the ONE redeeming feature of the Yingluck Administration....maybe that is why the Military got rid of it, simply because it was a Yingluck project?

[Flanno]

It would help to know your nationality and age Roscoe. I'm Aussie and one year ago was in a similar situation as yourself. After 2 trips to Thailand to suss things out I decided fulltime retirement in Thailand was not for me. In particular, the last thing I would do is invest my life saving here. The country is politically unstable for starters and I'm sure you can invest in your own country with a much better return. I invested in a very stable superannuation fund and am now getting very healthy returns as well as a regular pension payment. You won't get this in Thailand. As well the Aust government is giving me an age pension which you may not get if you live fulltime in Thailand, depending on where you are from.

My advice is retain links with your home country and use Thailand as a holiday destination.

[Kaoboi Bebobp]

Excellent advice above. Never throw everything into your move. Took me four visits before I thought I'd consider retiring here. Then in 2007, decided to analyze things better by spending my company leave here for 6 months. Went extreme and fortunately learned a lesson: don't let the temptations suck you into the big black hole. Ahem. When I got an early retirement package in 2010, I came here with a more moderate approach. Live and learn. And by the way, Kannot's post above (#2) is pretty bang on.

[Pattaya Lous]

Renting is dead money as you know, and you are making somebody else rich.

Forget Condo's - they are small concrete boxes, noisy and there is nothing you can do about it, expensive maintenance charges, hiked up cost of water and electric, bad shoddy build quality covered up by shiny new tiles and the market is flooded with hundreds of unsold new builds, soon you will be able to buy new cheaper than used.

My advice and I have been buying and selling for ten years: Invest in a house, quiet, peaceful and private and you can carry out alterations to make it your own.

5m B will buy you a nice 2 bedroom house in a walled garden with a small pool if you want it on both the darkside and the lightside (basically both sides of Sukhumvit road) - it's a buyers market at the moment if you have the cash make a few offers then you can gauge for yourself what you can get for your money.

There will be loads of reply's from the condo boys saying you can't own the land in your name etc. etc. - don't listen to them make an appointment with a good Thai legal advisor, they can speak good English and they will explain the safe legal options to property ownership in Thailand and the ways of taking your money out of Thailand if you need to, the key is getting a written letter/record/receipt from your bank when your money comes into Thailand and a clear view of where the money has come from and what it is to be used for, you can then send it back quite easily if you need to, done it several times myself.

I am on my third house and when you sell a house you will always get your money back.

Investments: put 800k B in the bank for your retirement visa it takes away all the hassles in applying for and maintaining your visa in the future - no problems or huge paperwork at all just a quick visit to immigration every 90days they even supply you with a pre printed statement for you next visit and if nothing has changed just sign it and hand it, one hour maximum every time I go.

Kasikorn Bank: go into a branch and discuss investments products that suite you, they have investment plans that are not on their website, I have used three and six month government investment bonds they are TAX free and have been paying 3 to 6% over the past two and half years - golden rule anywhere in the world don't invest more than you can walk away from.

[loppylugs1]

Renting is dead money as you know, and you are making somebody else rich.

Forget Condo's - they are small concrete boxes, noisy and there is nothing you can do about it, expensive maintenance charges, hiked up cost of water and electric, bad shoddy build quality covered up by shiny new tiles and the market is flooded with hundreds of unsold new builds, soon you will be able to buy new cheaper than used.

My advice and I have been buying and selling for ten years: Invest in a house, quiet, peaceful and private and you can carry out alterations to make it your own.

5m B will buy you a nice 2 bedroom house in a walled garden with a small pool if you want it on both the darkside and the lightside (basically both sides of Sukhumvit road) - it's a buyers market at the moment if you have the cash make a few offers then you can gauge for yourself what you can get for your money.

There will be loads of reply's from the condo boys saying you can't own the land in your name etc. etc. - don't listen to them make an appointment with a good Thai legal advisor, they can speak good English and they will explain the safe legal options to property ownership in Thailand and the ways of taking your money out of Thailand if you need to, the key is getting a written letter/record/receipt from your bank when your money comes into Thailand and a clear view of where the money has come from and what it is to be used for, you can then send it back quite easily if you need to, done it several times myself.

I am on my third house and when you sell a house you will always get your money back.

Investments: put 800k B in the bank for your retirement visa it takes away all the hassles in applying for and maintaining your visa in the future - no problems or huge paperwork at all just a quick visit to immigration every 90days they even supply you with a pre printed statement for you next visit and if nothing has changed just sign it and hand it, one hour maximum every time I go.

Kasikorn Bank: go into a branch and discuss investments products that suite you, they have investment plans that are not on their website, I have used three and six month government investment bonds they are TAX free and have been paying 3 to 6% over the past two and half years - golden rule anywhere in the world don't invest more than you can walk away from.

So its a buyers market,and you will always get your money back, think somehow that does not add up.

Go on explain"good Thai legal advisor" and the "legal safe options" in yer own words.

Morelike he will lose the lot in no time at all

Just seen your investment advice too (last paragraph) 3% to 6% over 2 and a half years. The £ if the use is that ,(Aussie dollar even better),did strengthen around 17% last few months against the baht, softened off a bit last week or so,but UK ,US etc will be pushing up interest rates in next few months ,so baht will be on the way down,no use 2% or 3% with a country that bounces around just avoiding a recession

Edited August 26, 2014 by loppylugs1

[Pattaya Lous]

Renting is dead money as you know, and you are making somebody else rich.

Forget Condo's - they are small concrete boxes, noisy and there is nothing you can do about it, expensive maintenance charges, hiked up cost of water and electric, bad shoddy build quality covered up by shiny new tiles and the market is flooded with hundreds of unsold new builds, soon you will be able to buy new cheaper than used.

My advice and I have been buying and selling for ten years: Invest in a house, quiet, peaceful and private and you can carry out alterations to make it your own.

5m B will buy you a nice 2 bedroom house in a walled garden with a small pool if you want it on both the darkside and the lightside (basically both sides of Sukhumvit road) - it's a buyers market at the moment if you have the cash make a few offers then you can gauge for yourself what you can get for your money.

There will be loads of reply's from the condo boys saying you can't own the land in your name etc. etc. - don't listen to them make an appointment with a good Thai legal advisor, they can speak good English and they will explain the safe legal options to property ownership in Thailand and the ways of taking your money out of Thailand if you need to, the key is getting a written letter/record/receipt from your bank when your money comes into Thailand and a clear view of where the money has come from and what it is to be used for, you can then send it back quite easily if you need to, done it several times myself.

I am on my third house and when you sell a house you will always get your money back.

Investments: put 800k B in the bank for your retirement visa it takes away all the hassles in applying for and maintaining your visa in the future - no problems or huge paperwork at all just a quick visit to immigration every 90days they even supply you with a pre printed statement for you next visit and if nothing has changed just sign it and hand it, one hour maximum every time I go.

Kasikorn Bank: go into a branch and discuss investments products that suite you, they have investment plans that are not on their website, I have used three and six month government investment bonds they are TAX free and have been paying 3 to 6% over the past two and half years - golden rule anywhere in the world don't invest more than you can walk away from.

So its a buyers market,and you will always get your money back, think somehow that does not add up.

Go on explain"good Thai legal advisor" and the "legal safe options" in yer own words.

Morelike he will lose the lot in no time at all

Just seen your investment advice too (last paragraph) 3% to 6% over 2 and a half years. The £ if the use is that ,(Aussie dollar even better),did strengthen around 17% last few months against the baht, softened off a bit last week or so,but UK ,US etc will be pushing up interest rates in next few months ,so baht will be on the way down,no use 2% or 3% with a country that bounces around just avoiding a recession

Asking prices at the moment are very much inflated so accepting an offer you will get back you original investment; agreed not much profit if any but you will get your money back I have done it.

Many people in Pattaya are wannabe experts but actually they have never done anything themselves and their learning is done in the bar.

To much for me to explain and off topic, and not a good idea to recommend in open forum.

If careful and listens to people who know the OP will not loose anything.

Over the last ten years I have made money on my investments in Thailand when the interest rates in UK have been around 1%.

Apart from the purchase price of my house and as I still have the house I still have the money. I have not spent any of my capital to live here.

Don't wait for rates to rise in the UK in the next few months it wont happen speak to me again in a few months when you have finished eating your words.

[loppylugs1]

Renting is dead money as you know, and you are making somebody else rich.

Forget Condo's - they are small concrete boxes, noisy and there is nothing you can do about it, expensive maintenance charges, hiked up cost of water and electric, bad shoddy build quality covered up by shiny new tiles and the market is flooded with hundreds of unsold new builds, soon you will be able to buy new cheaper than used.

My advice and I have been buying and selling for ten years: Invest in a house, quiet, peaceful and private and you can carry out alterations to make it your own.

5m B will buy you a nice 2 bedroom house in a walled garden with a small pool if you want it on both the darkside and the lightside (basically both sides of Sukhumvit road) - it's a buyers market at the moment if you have the cash make a few offers then you can gauge for yourself what you can get for your money.

There will be loads of reply's from the condo boys saying you can't own the land in your name etc. etc. - don't listen to them make an appointment with a good Thai legal advisor, they can speak good English and they will explain the safe legal options to property ownership in Thailand and the ways of taking your money out of Thailand if you need to, the key is getting a written letter/record/receipt from your bank when your money comes into Thailand and a clear view of where the money has come from and what it is to be used for, you can then send it back quite easily if you need to, done it several times myself.

I am on my third house and when you sell a house you will always get your money back.

Investments: put 800k B in the bank for your retirement visa it takes away all the hassles in applying for and maintaining your visa in the future - no problems or huge paperwork at all just a quick visit to immigration every 90days they even supply you with a pre printed statement for you next visit and if nothing has changed just sign it and hand it, one hour maximum every time I go.

Kasikorn Bank: go into a branch and discuss investments products that suite you, they have investment plans that are not on their website, I have used three and six month government investment bonds they are TAX free and have been paying 3 to 6% over the past two and half years - golden rule anywhere in the world don't invest more than you can walk away from.

So its a buyers market,and you will always get your money back, think somehow that does not add up.

Go on explain"good Thai legal advisor" and the "legal safe options" in yer own words.

Morelike he will lose the lot in no time at all

Just seen your investment advice too (last paragraph) 3% to 6% over 2 and a half years. The £ if the use is that ,(Aussie dollar even better),did strengthen around 17% last few months against the baht, softened off a bit last week or so,but UK ,US etc will be pushing up interest rates in next few months ,so baht will be on the way down,no use 2% or 3% with a country that bounces around just avoiding a recession

Asking prices at the moment are very much inflated so accepting an offer you will get back you original investment; agreed not much profit if any but you will get your money back I have done it.

Many people in Pattaya are wannabe experts but actually they have never done anything themselves and their learning is done in the bar.

To much for me to explain and off topic, and not a good idea to recommend in open forum.

If careful and listens to people who know the OP will not loose anything.

Over the last ten years I have made money on my investments in Thailand when the interest rates in UK have been around 1%.

Apart from the purchase price of my house and as I still have the house I still have the money. I have not spent any of my capital to live here.

Don't wait for rates to rise in the UK in the next few months it wont happen speak to me again in a few months when you have finished eating your words.

Believe me,

You would be the very last one I would speak to....no I would not even speak to you

[KittenKong]

Forget Condo's - they are small concrete boxes, noisy and there is nothing you can do about it, expensive maintenance charges, hiked up cost of water and electric, bad shoddy build quality covered up by shiny new tiles and the market is flooded with hundreds of unsold new builds, soon you will be able to buy new cheaper than used.

Small condos are small, certainly. But large ones aren't. There are plenty of condos here that are much larger than the average house.

Noisy? Maybe, if you get a noisy one but not if you get the right one in the right building.

As for expensive charges I am certain that in my condo I pay less than most farang house-owners do here for water and electricity and common fees.

My advice and I have been buying and selling for ten years: Invest in a house, quiet, peaceful and private and you can carry out alterations to make it your own.

5m B will buy you a nice 2 bedroom house in a walled garden with a small pool if you want it on both the darkside and the lightside (basically both sides of Sukhumvit road) - it's a buyers market at the moment if you have the cash make a few offers then you can gauge for yourself what you can get for your money.

This assumes that people want a 2-bed house with all the disadvantages that come with it. Personally as a retired person I want a zero-maintenance dwelling that I can lock up and leave at a moment's notice without having to even think about security or who is mowing the lawn or analysing the water in the pool. I do have a car but I also want to be right on a main bahtbus route, and within walking distance to shops and restaurants and the beach. A condo gives me all this but few houses ever could. As a bonus I get a panoramic sea view that no houses here can offer.

[KittenKong]

I'm Aussie and one year ago was in a similar situation as yourself. After 2 trips to Thailand to suss things out I decided fulltime retirement in Thailand was not for me. In particular, the last thing I would do is invest my life saving here.

Being retired here does not require you to invest any money at all here.

Given that most people have to have some sort of permanent base somewhere, I find that Thailand is a very cost-effective place to have one. It doesn't prevent me from going to other places though. Having a retirement extension doesnt even mean that I have to be here more than a few days a year to renew it.

[StefanBBK]

Rent for at least 6 months before making a decision. Keep most of your funds abroad invested safely with moderate returns. Aim for 7%.

For say 40 US that should give you 28k/ year, or about 70k baht a month to live on.

Check out various parts of Thailand. You might find that Chiang Mai, or Hua Hin are nice places.

Don't tell anyone about you financial situation and do not enter into any business here.

[Pattaya Lous]

Told you the Condo boy's are out in force.

buying a Condo or as we call them in the UK a flat you will regret for ever more

[craigt3365]

Told you the Condo boy's are out in force.

buying a Condo or as we call them in the UK a flat you will regret for ever more

Not sure that is true. Many of my friends live in condos and love them. Much less maintenance, better security, can just lock it up and leave for a few months if you like, and some are huge. One friend of mine has a condo that's bigger than my house!

Of course noise can be an issue, privacy is less, no private pool/garden, etc.

Pros and cons to both approaches. The OP should come here and rent for a few years to figure things out. He many find out he doesn't even like the Chonburi area and move elsewhere. Lots of great locations here in Thailand.

I wouldn't buy a car immediately. Relatively cheap to rent one when needed. We rented a car for several months before we eventually bought one.