monthly costs associated with buying a house or condo

[watgate]

If I decide to buy a house or condo I am interested in finding out what typically are the costs associated with purchasing a condo or a house. My understanding is, and I may be wrong, that as far as taxes go, you pay taxes initially as part as the purchase price of a property but going forward you don't pay taxes on your property each year thereafter. Is that correct? Also, besides electric and water and monthly condo fees what other monthly costs are involved in owning a house or a condo. There wouldn't be a mortgage but I would need insurance on the property. Any idea what it would cost to insure a condo or an average house? I realize you also have to pay for cable and/or internet service and any idea what that would cost? What about garbage removal if you purchase a house? What is the average price for garbage removal? Any info from any of you homeowners to give me some idea what the average monthly carrying costs to own a condo or a house would be appreciated. I also realize with a house you would need to budget for periodic maintenance costs but if I decided to buy a house, I would probably buy a new or newer house so the need for maintenance would be minimal.

[Sparkles]

Can't answer all you questions and of course you will get a lot of different replies depending on how much the house/condo cost, location etc.

But Banwangtan ,Hang Dong would be a middle of the road situation,10 kms from the city

We have a 2 bedroom house on a relatively small block.

Village fee is 470 baht per month that includes nightly pick up of household waste,sois swept at least every second day,larger pick up of tree cuttings etc once a week.

Security which, as in many gated villages, a bit of a joke,3 entrances manned but no id required to come in or exit,more for appearance sake.

Water bill paid to village averages, per month, between 120 b in winter to 150 b in, summer, daily watering of garden.So average monthly around 620 baht

House is valued at about 1.8m baht, Insurance is 4,500 baht per year. We use TOT internet that's 800 baht a month approx inc line rental.

Others can jump in and as I said costs will vary significantly but its a start. good luck.

[grin]

I think that if you buy a house, especially a new one, you will be surprised about how much ongoing maintenance is needed. Repairs may be made cheaply, but finding and keeping contact with people that do quality repair work can be difficult.

In the U.S. I might expect to have very little maintenance for at least the first ten years after buying a new house. Here, depending on your luck in finding quality construction, it might take you ten years to repair everything that was poorly done when the house was built.

Grin

[bangmai]

No property taxes, but they may change in the future..I've heard .5% annually of Land Office value mentioned. THere is a 12.5% tax on leases that most ignore, but some have been hit up for back taxes plus a fine...if you choose to rent it out. Condo fees are becoming more priced per square meter....figure 20-40 thb per month.

[anon467848]

Can't answer all you questions and of course you will get a lot of different replies depending on how much the house/condo cost, location etc.

But Banwangtan ,Hang Dong would be a middle of the road situation,10 kms from the city

We have a 2 bedroom house on a relatively small block.

Village fee is 470 baht per month that includes nightly pick up of household waste,sois swept at least every second day,larger pick up of tree cuttings etc once a week.

Security which, as in many gated villages, a bit of a joke,3 entrances manned but no id required to come in or exit,more for appearance sake.

Water bill paid to village averages, per month, between 120 b in winter to 150 b in, summer, daily watering of garden.So average monthly around 620 baht

House is valued at about 1.8m baht, Insurance is 4,500 baht per year. We use TOT internet that's 800 baht a month approx inc line rental.

Others can jump in and as I said costs will vary significantly but its a start. good luck.

You forgot about the electric bill, which is probably the most expensive monthly outlay....

[Sparkles]

Can't answer all you questions and of course you will get a lot of different replies depending on how much the house/condo cost, location etc.

But Banwangtan ,Hang Dong would be a middle of the road situation,10 kms from the city

We have a 2 bedroom house on a relatively small block.

Village fee is 470 baht per month that includes nightly pick up of household waste,sois swept at least every second day,larger pick up of tree cuttings etc once a week.

Security which, as in many gated villages, a bit of a joke,3 entrances manned but no id required to come in or exit,more for appearance sake.

Water bill paid to village averages, per month, between 120 b in winter to 150 b in, summer, daily watering of garden.So average monthly around 620 baht

House is valued at about 1.8m baht, Insurance is 4,500 baht per year. We use TOT internet that's 800 baht a month approx inc line rental.

Others can jump in and as I said costs will vary significantly but its a start. good luck.

You forgot about the electric bill, which is probably the most expensive monthly outlay....

Apologies, an oversight..Average 1,600 baht per mth in hot season, 700 baht average November to end of February.

Obviously again everyone has different requirements, we have 3 air cons but rarely is more than one on at the same time.

I know if you are renting a condo some places really load the bill but if you own a house you are of course paying direct to the provider..

[masuk]

The last house I rented was 2 story, and the downstairs part remained cool in the day but I had a large fan drawing air in thru the day until it was time to close the doors and let the place stay cool.

I didn't need the large downstairs air con on at all. Upstairs was another matter, with the usual false economy of not insulating the roof cavity. I left all windows open during the day and at night blasted the bedroom with the aircon for an hour or so after I closed up the room.

Power bill stayed down.

I spent some money on putting up some gutters to prevent water splashing into the living room, and added screen doors from 80% screened to 100%. No more mosquitoes.

Worth the small amount paid, to have no bugs at night, dry floors. Oh yes. Added extra lights to the kitchen. I hate working in the dark. Thais seem to work by feel.